Buy IGL, Bata India, Tata Power: Tulsian

In CNBC-TV18's popular show Bull's Eye, SP Tulsian of sptulsian.com shares trading strategy of the day.

Buy Indraprastha Gas Limited (IGL) with a day target of Rs 312 and stop loss of Rs 295. The matter of Petroleum and Natural Gas Regulatory Board (PNGRB) against the company in respect to the Delhi High Court order is scheduled for hearing today in Supreme Court and it is expected that the order is likely to come in favour of the company and in anticipation of that the buying is likely to be seen in the stock ahead of this event and hence a buy call.
Buy Bata India with a day target of Rs 780 and stop loss of Rs 745. The stock has witnessed the value buying yesterday on the hopes that company is likely to post better Q1 numbers and this stock seem to have bottomed out in this last three months and now seeing to be under owned as well as some shorts are seen in the counter and that may keep the positive momentum on the stock and hence a buy call.
Buy Anant Raj Industries with a day target of Rs 64 and stop loss of Rs 60. All the real estate stocks are seen to be in favour on the hopes that some rate cut maybe announced by RBI on May 3 and in anticipation of that the company is likely to be seen as favourite because the stocks seems to be quite undervalued and the buying from the informed circle has seen in the stock yesterday and hence a buy call.
Buy Tata Power with a day target of Rs 99 and stop loss of Rs 93. CRC is likely to consider the plea of the company for rate hike for its Mundra ultra mega power projects on the lines of Adani Power and that is seem to be quite positive on the fundamental and operational front for the company and will be seen quite positive and because of this news the buying it is likely to emerge in the stock.