Buy Godrej Ind, Indiabulls Financial, Jet Airways: D Cunha

Lancelot D Cunha of ITI Wealth Management advised buying Godrej Industries, Indiabulls Financial, Jet Airways and Gujarat Fluorochemicals.

 D Cunha told CNBC-TV18, “Buy Godrej Industries with a target price of Rs 319.50. Temasek has recently announced that they will be investing in Godrej Agrovet upto 20 percent, at a deal size of Rs 550 crore. So, I believe this will be positive for Godrej Industries and we could see the stock moving up to its target price of Rs 319.50.”

“Buy Indiabulls Financial with a target price of Rs 274.50. Given the fact that we were likely to see some amount of liquidity easing up and interest rates coming off over the next 6-12 months, this will be positive for finance companies. I see Indiabulls Finance has been moving up on volumes. It has recently broken out above its previous high and given the momentum we should see the stock moving up to its target price of Rs 274. 50,” D Cunha added.

“Buy Jet Airways. It has been in the news for the fact that Etihad is taking its stake in the company. There are reports that the deal is close to be finalised and valuations are more or less settled. Given the buy momentum in the stock, I have been seeing that it is hitting new highs. I believe that the informed buying may have an idea as to where the valuation would be and it looks like the stock momentum should move it upwards to hit its target price of Rs 645.”

D Cunha further said, “Buy Gujarat Fluorochemicals with a target price of Rs 339.50. This stock had corrected from its recent highs and has now started moving upwards. The momentum is upwards and given that we are likely to see some increased volumes in terms of buying. You could see it hit its target price of Rs 339.50.”