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Last Updated : Nov 13, 2014 04:21 PM IST | Source: CNBC-TV18

Buy Hitachi Home, Blue Dart: Pankaj Jain

Pankaj Jain, Director at Sunteck Wealthmax Capital is of the view that one can buy Hitachi Home, Blue Dart.

Pankaj Jain, Director at Sunteck Wealthmax Capital told CNBC-TV18, "Hitachi Home is into air conditioners and white goods and what we have seen today is that volumes are very heavy almost four to four and half times the regular volumes and this stock after consolidating between Rs 600-650 kind of zone has moved up very rapidly today and we
expect that somewhere in 2015 this stock could well be trading in the four digit mark. Recent quarter results were very strong and not to forget that the free float in the stock is not very high, at the most only about 30 lakh shares are available as free float in the market. Some of the foreign funds have started chasing this low free float kind of stock. It could do exceedingly well in tomorrow's trading as well as in weeks and months to come."

"Generally the volumes are very small in Blue Dart but today we have seen relative volumes very heavy and not to forget this again is a very strong proxy ecommerce story. If we are taking that in next five years ecommerce story, multiple by 5x or 10x times, Blue Dart is one of the biggest beneficiary of that. We could very well see the stock moving on technical patterns of what we have seen in Eicher Motors in last one year. So, taking that as view, I believe that Hitachi Home and Blue Dart should be a strong stock for tomorrow's trading as well as in months to come," he said.

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First Published on Nov 13, 2014 03:23 pm