Buy Cairn India, United Spirits, Colgate: Ashish Kapur

In CNBC-TV18's popular show Bull's Eye, Ashish Kapur, Investshoppe shares trading strategy of the day.

Buy Cairn India with a target of Rs 350 and stop loss of Rs 325. The rationale for going long here is that the company has reported very encouraging numbers in its first quarter. We expect this performance to continue going forward on the back of good volume growth in its Rajasthan oil fields, a weaker rupee as well as high oil prices in the national market. Hence we are recommending a long position here and keeping a day target of Rs 350. Buy United Spirits with a target of Rs 900 and a stop loss at Rs 835. The stock reported very encouraging numbers on its first quarter where the results have come out much better than expected. Moreover the margins have also improved significantly. Going forward we expect a good positive trigger whenever the expected sale to Diageo is announced because that is likely to be at a very high price of around Rs 1200 per share. So this is a good stock for the near term and for the day we are keeping a target at Rs 900. Buy Colgate with a target of Rs 1240 and a stop loss of Rs 1150. The stock reported encouraging numbers in its first quarter. Moreover the company is investing Rs 54 crore to ramp up its toothbrush and toothpaste facilities. They are also adding new capacities in Gujarat and Rajasthan. So together with a defensive nature of its business, we are bullish in the near term on Colgate. Buy ICICI Bank with a target of Rs 985 and a stop loss of Rs 912. The bank is now focusing on keeping its asset quality good and this is what makes us bullish about this bank. Given its vast branch network and the improving return on asset, we are quite sanguine that going forward this bank will again get rerated and will enjoy the high multiples which it once did. So for the near term do we are bullish given the new realigned focus of the bank on improving its asset quality, strengthening its balance sheet and lower its cost of credit. Disclosure: I have holdings in ICICI Bank, Colgate and Cairn India.