Sharekhan bets on United Spirits, Adani Power, Tata Comm

Investors look worried since the Indian market is swinging in volatility. As the market is currently in the fag end of corporate earnings, brokerage firm Sharekhan is bullish on three stocks that is likely to fetch maximum gains.

Sharekhan is betting on United Spirits for a target of Rs 2519-2565 with a stop loss of Rs 2397. It feels that United Spirits may consider selling Scottish grain whisky distillery Invergordon, which it acquired as part of the USD 1.18-billion Whyte & Mackay acquisition. "Divestment may be considered to get anti-trust approval in the UK for United spirit share sale to Diageo," it said.
Other two stocks that Sharekhan is bullish on are Adani Power and Tata Communication. It feels that Adani Power's plans to raise Rs 3,000 crore through ECB route to refinance and reduce debt in its Tiroda plant will help the company to reduce interest cost by 5 percent. It has a long term target on Adani Power at Rs 59.
Sharekhan adds that Tata Communication is likely to touch Rs 225-229 as it is likely to raise Rs 1000 crore by selling three non core assets.