Buy Reliance Capital, Goenka Diamond, says ITI Wealth

Lancelot D Cunha of ITI Wealth Management has recommended buying Reliance Capital, Goenka Diamond, Kalpataru Power and Adani Enterprises.

D Cunha told CNBC-TV18, “Buy Reliance Capital. The stock has been rising on increasing volumes and we have seen that since the issue of new banking licenses has been in the Parliament the stock has been continuously moving up. I see that the stock has broken out today and should move higher inline with the current momentum to hit its target price of Rs 506.”
“Buy Kalpataru Power Transmission with a target price of Rs 95. The stock has seen good order inflow from its power transmission business and this would result in improved profitability. I have seen that the stock has started moving upwards after a brief correction.”
Tulsian further said, “Buy Goenka Diamond and Jewels with a target price of Rs 29.50. Post split into Re 1 face value the stock has seen good volumes and is moving up. After a brief period of consolidation I think that the stock has broken out from its levels and given the upward momentum. And the buying that we have seen over the past few days, this stock could move to its target price of Rs 29.50.”
“Buy Adani Enterprises with a target price of Rs 305. The company is planning to offer part of its shares through an offer for sale on December 21st. This stock has been continuously moving up especially on large volumes and the increased volume shows that the momentum is with the stock. So with this current momentum carrying it forward it could see the stock hitting its target price of Rs 305.”