Analysts feel investors will still focus on quality stocks only in 2020
We still advise traders not to have a contrarian approach on the market and should rather capitalize on such declines.
On the higher side, 11500 followed by 11600 would be the immediate levels to watch out for and on the downside, 11370 and 11300 should be seen as important supports in the forthcoming week.
Anticipating the future growth potential of the auto component industry and the positioning of the company as a multi-product and multi-location company, we feel that it has high growth potential.
The company achieved the reported PAT of Rs. 106 cr, a growth of 17.8 percent year-on-year with a net margin of 10.9 percent.
Sundram Fasteners expanding its capacity and making concentrated efforts to improve the product mix with focus on high-value products and increased contribution of exports.
Invest in quality companies with a healthy growth outlook and reasonable valuations.
We maintain buy with target price of Rs 760 per share based on 33x FY19E EPS of 23 per share.
Export-oriented companies in IT, pharma & other sectors are seeing more investor interests; due to positive factors like favorable rupee, buy backs & reasonable valuations.
Sundaram Fasteners is significantly adding capacity and has incurred Rs 200–300 crore Capex in FY18. The company has high ROE of 25.40 percent, says a report by Anand Rathi.
Siddharth Sedani of Anand Rathi says strong demand for capital and consumption goods is likely to continue
The stock can be bought at current level and on dips towards Rs 635 with a stop loss below Rs 615 and a target of Rs 720 levels, says Ashish Chaturmohta of Sanctum Wealth Management.
Ashish Chaturmohta of Sanctum Wealth Management said as long as Nifty trades below 10,640 levels, we expect the market to retest 10,550 levels which is an important support level for the market.
The company is significantly adding capacity and has incurred Rs 200 – 300 crore capex in FY18.
Ashwani Gujral of ashwanigujral.com is of the view that one can sell Jindal Steel & Power and BPCL and can buy Dewan Housing Finance Corporation.
Prakash Gaba of prakashgaba.com is of the view that one can buy Greaves Cotton and Sundram Fasteners.
Ashwani Gujral of ashwanigujral.com recommends buying Indiabulls Housing Finance, Motilal Oswal, Biocon, Titan Company an Motherson Sumi Systems.
Mitessh Thakkar of mitesshthakkar.com has a buy on Axis Bank with a stop loss of Rs 540 and target of Rs 565 and a buy on Havells India with a stop loss of Rs 548 and target of Rs 575.
Reliance Industries and Tata Steel hit new 52-week high while Bharti Airtel zoomed over 6 percent. Avenue Supermarts, Bharat Financial Inclusion, Dabur India, Havells India and JSPL were the other stocks which hit 52-week high in the Nifty.
Ashwani Gujral of ashwanigujral.com recommends buying Edelweiss Financial Services, Jindal Steel & Power, Sundram Fasteners, Hindalco Industries and Havells India.
Ashwani Gujral of ashwanigujral.com recommends buying Jindal Steel & Power and Sundram Fasteners and advises selling India Cements.
Sharekhan has carefully chosen 10 quality picks to make another market‐beating portfolio. This portfolio is well balanced and provides superior returns, without any unnecessary risk.
Nifty added on to its morning gains on Thursday with the index inching up 47.45 points at 10,032.80 while the Sensex added 132.86 points at 31,966. Vedanta, Lupin, Sun Pharma along with TCS were some of the top gainers in the Nifty.
Ashwani Gujral of ashwanigujral.com recommends buying GAIL India, BASF, Bharat Forge, Ashok Leyland and EID Parry.
Mayur Uniquoters, Voltamp Transformers, Sundram Fasteners are on the radar.