Buy Karnataka Bank, Hathway Cable, United Phosp: Cunha

In CNBC-TV18's popular show Bull's Eye, Lancelot D Cunha, ITI Wealth Management shares trading strategy of the day.

Buy Karnataka Bank with a target price of Rs 138.80. Karnataka Bank has been reasonably steady in the last week despite fall in the market. I believe there has been some increased buying on good volumes that could see the stock moving up. From a long-term basis the stock is also attractively price and is trading at 0.5 times its FY14 book value and non performing assets (NPA) being under control we should see better financial performance from the bank. Given that there is buying momentum in its favour the stock should move up to hit its target price of Rs 138.80.
Buy Hathway Cable with target price of Rs 270. Hathway cables has recently come of its highs and has been consolidating. Post the successful completion of phase I digitization it has added almost 2 million subscribers and now with the roll out of phase II digitization in 38 cities the stock should see significant growth in its revenues. EBITDA growth is expected to be around Rs 60-65 crore which is positive for the company and the stock should see some more upside based on the buying volumes that we saw on Friday. I think the stock could move up to hit its target price of Rs 270.
Buy United Phosphorus. United Phosphorus is one of the leading global agro pesticides player. Recently the stock had some issues with regards to bad weather, reducing the cost of the consumption of pesticides and agro products in Latin America and in US. However, we are seeing some improvement in the situation and the stock seems to have bottomed out. Last few days there has been come aggressive buying and that has moved the stock up. I see the stock breaking out and could move to its level of Rs 125.50
Short Titan Industries with target of Rs 243.50 and stop loss to be placed at Rs 253.50.