Buy JB Chemicals, BOI, Motherson Sumi: Dharmesh Kant

In CNBC-TV18's popular show Bull's Eye, Dharmesh Kant of Indianivesh Securities shares his trading strategies for the day.

One may buy JB Chemicals and Pharmaceuticals for a price target of Rs 150 with a stoploss of Rs 120. JB Chemicals' numbers were very good, the topline grew by around 17 percent. The sum-of-the-parts (SOTP) valuation comes out to be Rs 150.

One may buy Bank Of India for a price target of Rs 190 with a stoploss of around Rs 160. If one looks at Bank of India's numbers their deposits will be around 30 percent, advances will be around 27 percent and asset quality fund both gross non-performing assets (NPA), net NPA reported sequential as well as year over year decline in percentage term. On absolute basis the slippage was higher and that was the reason why there was a degrowth in the net profit.

One may buy Motherson Sumi Systems. The stock has seen strong buying attraction and it has been getting accumulated at every dips. On valuation count the stock does look stressed but the numbers were very good and going forward the momentum is likely to continue in near-term taking the stock higher to around Rs 250 kind levels. Traders can play this out with a stoploss of Rs 220.One may buy Bharat Forge. It came out with stellar set of numbers, primarily propelled by the foray into the non automotive segment. On operational efficiency the reserves were pretty good and their debt reduction has been quite significant. The stock looks very comfortable from business point of view but valuation looks a bit stressed but the buying attraction in the momentum which the stock has been witnessing is likely to continue in near term, taking it higher to around Rs 410 kind of levels.