Buy AstraZeneca Pharma, Godrej Industries, HDIL: SP Tulsian

In CNBC-TV18's popular show Bull's Eye, SP Tulsian of sptulsian.com shares his trading strategies for the day.

Buy AstraZeneca Pharma with a day target price of Rs 740, and keep a stoploss of Rs 660. I am continuing this buy call which I gave yesterday because the offer for sale which closed yesterday evoked very good response and subscribed 4.9 times. Against the floor price of Rs 490 the response has come between Rs 620-650 at which the shares are likely to get allotted and this is likely to see good demand coming into the secondary market and hence a buy call.
Buy Pidilite Industries with a day target of Rs 303 and stoploss of Rs 288. This is a repeat of yesterday's buy call because company has posted robust Q4 numbers with profit after tax at Rs 81 crore against Rs 64 crore in similar quarter of previous year and operating profit also rose to Rs 101 crore against Rs 72 crore of last year same quarter. This is likely to see renewed buying coming back into the stock and hence a buy call.
Buy Godrej Industries with a day target of Rs 310 and stop loss of Rs 294. The company has posted excellent Q4 numbers with profit after tax almost doubling to about Rs 92 crore against Rs 43 crore having posted for the similar quarter in the previous year with corresponding increase in the operating profit as well as EBITDA, as well as profit before tax. This sequential and linear increase at all the levels is likely to cheer the market witnessing buying into the stock and hence a buy call.
Buy Housing Development and Infrastructure (HDIL) with a day target of Rs 54 and stop loss of Rs 51. The company is likely to declare good numbers which is due today and there has been renewed buying interest coming in all the midsize real estate companies. HDIL being a prominent player in Mumbai is likely to post reasonably good numbers which is likely to cheer the market and hence a buy call.