Buy Karnataka Bank, Dish TV, Talwalkars: Agarwal

In CNBC-TV18's popular show Bull's Eye, Abhishek Agarwal of Fortune Interfinance shares trading strategy of the day.

Buy Karnataka Bank with target of Rs 135 and stop loss of Rs 121. Yesterday Karnataka Bank came out with results where the PAT was up by 186 percent to Rs 117 crore on year on year basis. There has also been a rumor around where ICICI Bank could take over Karnataka Bank. However the management has declined on it. But the stock has reacted significantly and has moved up from Rs 85 to Rs 125 in one month. I still believe there is potential left in the stock to move higher.

Buy TV18 Broadcast with target of Rs 35 and stop loss of Rs 29.50. Last month TV18 Broadcast had concluded its rights issue of Rs 2700 crore which had gone well. It will reduce the debt overall for this year. The stock has moved up significantly post the right issue and that also with significant volumes. I still believe that the stock can move further higher and is a good bet for the medium term opportunity.

Buy Dish TV with a target of Rs 85 and stop loss of Rs 79. Today Dish TV is expected to come out with its results where they are expected to post a net loss of about Rs 22 crore versus Rs 49 crore year ago. Digitalization would help them to gain more market share and FDI enhancement in the sector will again further allow them to get a partner from outside. Therefore it is a positive move for the long-term and long-term investors should be accumulating the stock at current levels.

Buy Talwalkars with a target of Rs 210 and stop loss of Rs 190. It is one of the fastest going players in the fitness chain business. The management has indicated that they were expected to grow the top line by 35 percent for this year which is again a positive for the stock. They are focusing currently on the tier two-tier three cities which will gain them a better market share. Today the results are expected and I believe it will be in line. However in the short-term the stock can move up because it has seen a lot of buying interest in the last couple of trading sessions.