Buy IRB Infra, Tech Mahindra: Lancelot Cunha

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

Buy IRB Infra. IRB Iinfra came out with very good quarterly numbers. We saw the stock move up on good volumes. I expect that since the stock is trading at approximately three times EV/EBITDA we should see the stock getting re-rated upwards on the back of these results and it could move upward in the momentum to hit its target price of Rs 130.
Buy Tech Mahindra with a target price of Rs 998. Tech Mahindra also came out with good numbers. The PAT for the quarter was up 67 percent, sales were also up. Given the outlook that Tech Mahindra has indicated that the outlook will also remain good, I believe this stock could get re-rated further and we could see some buying, further buying take place and that could move the stock up to its target price of Rs 998.
Sell Century Textiles. Century Textiles came out with weak results a few days ago and we have seen the stock sell-off from its highs. I see that the stock is continuing to sell-off and though there was a brief bounce back I think it should resume its downward move with selling and we could see it hitting its target price.