Buy Exide, Hexaware, KPIT Cummins, Tata Chemicals: Joshi

In CNBC-TV18's popular show Bull's Eye, Sharmila Joshi of Peerless Securities shares her trading strategies for the day.

One may buy Exide Industries with a target of Rs 139 and stop loss of Rs 133. We have seen a good quarterly performance from Exide. So on the back of the kind of upgrade that we have seen in the results where they have shown really faster ability to have pricing power as well as the way the replacement market has grown and stabilized for them makes me quite positive on the stock. I think the stock has the ability to go to Rs 165. For the day I am buying it with a target of Rs 139.
One may buy Hexaware Technologies with a target of Rs 110 and stop loss at Rs 105.50. The last week has clearly been about IT and midcap IT has not been left behind in the kind of numbers that they have reported. From Hexaware we have seen a very strong performance and the guidance for the quarter coming is also very good where the management has indicated that margins would stay stable and they would see good volume growth. On the back of that we have increased our target price for the stock from Rs 115 to Rs 135. For the day I am buying it with a target of Rs 110.
One may buy KPIT Cummins Infosystems. It is a niche player in the IT space where they have a portfolio that addresses a lot of the auto space. They have shown very good traction and that is likely to continue in quarters to come. I buy this for the day with a target of Rs 133.50.
One may buy Tata Chemicals with a target of Rs 290. This stock has been facing a lot of headwinds both from Europe as well as domestically. In Europe, they had to have a right down which resulted in the company reporting a loss in the last quarter. Even domestically, they took a hit largely because fertilizer prices were reduced as well as the kind of subsidy which they are expected to get, has gone up. So on the back of that, the stock will continue to face near term pressure but we are beginning to see a turnaround in the results of a lot of the fertilizer companies. At the end of the day Tata Chemicals is a sum of parts kind of business.