Buy Aurobindo Pharma, SPARC, MCX India: ITI Wealth

Lancelot D Cunha of ITI Wealth Management is bullish on Aurobindo Pharma, SPARC and MCX India, advising buying these stocks.

D Cunha told CNBC-TV18, “A buy call on Aurobindo Pharma. It has recently received US Food and Drug Administration (USFDA) approval to begin manufacturing at Hyderabad plant and other units for export to the US markets. This is a significant boost for the company. We have seen this stock corrected over the past few days and from its lower levels it has started moving up amid good volumes. I see that momentum continuing and the stock hitting its target price of Rs 202.”
Tulsian further said, “A buy call on Sun Pharma Advanced Research Company (SPARC) with a target price of Rs 144. It has recently received a patent approval for metered drop bottles in the US. And along with various patents that are pending, various applications that are pending for drug discovery in the US, the stock has been moving up on volumes. We have seen that this momentum can continue and we could hit its target price of Rs 144.”
“A buy call on Shoppers Stop with a target price of Rs 452. The company has recently launched two more stores and a lot of its older stores are now seeing increased gains due to festive season. We can expect that Shoppers Stop should come out with reasonably good numbers in the ensuing quarter. However, the stock has seen some interested buying over the past few days and with the momentum of this additional buying the stock could move to its target price of Rs 452.”
“A buy call on MCX India. It has recently received a commencement certificate to begin equity trading operations. This should be a boost for the company and you will start seeing some revenues coming in from the equity exchange side of business. The stock has been moving up on good volumes and I expect this trend to continue today to hit its target price of Rs 1,548.”