Should you buy shares of Power Grid Corp. at the current price? Is Nestle India Ltd. a good choice from a long-term perspective? Should you keep holding Kalyan Jewellers India Ltd., and is it the right time to exit and book profit?
Lancelot D Cunha, chief investment officer at Valuex Connect LLP, and Kushal Gandhi, technical analyst from StockBox Technologies Pvt., answered these investor queries and more on NDTV Profit's Ask Profit show.
Yes Bank (CMP: Rs 18.8)
Gandhi: Sell
Stock trading at lower high-price structure, which is indicative of bearish conditions.
Negative view on it.
If one wants to be invested in private banks, HDFC Bank and ICICI Bank are the counters to look forward to.
Nestle India (CMP: Rs 2,219.9)
Cunha: Hold
Continue to hold, add at lower levels.
Despite business slowdown in industry, the firm's diverse product range may spur demand growth.
Hold for long-term perspective.
Kalyan Jewellers India (CMP: Rs 706.4)
Gandhi: Hold
Hold for a strict stop-loss of around Rs 663.
Price structure looks good, wait for the Rs 780 levels to be taken out.
Once that is done, expecting a positive trajectory towards Rs 820–830-odd levels.
IRB Infrastructure Developers (CMP: Rs 57.27)
Gandhi: Hold
Hold it at a very tight stop-loss near Rs 55.
Stock may start to move up once it closes around Rs 60 levels.
Once that is done, there is an expectation of a target of around Rs 68 followed by Rs 72.
CDSL (CMP: Rs 1722.40)
Cunha: Hold
One can continue to hold Central Depository Services (India)'s stock.
Caution against buying, stock is currently trading at 65 times its runnings.
May see a steep correction if there is any change in fundamental factors.
Bharat Electronics (CMP: Rs 282.10)
Cunha: Buy
Has significant runway ahead in terms of a good order book.
Opportunity to export its missile guidance systems.
Good opportunity to accumulate the stock.
ITC (CMP: Rs 449.55)
Cunha: Hold for long term
One of the lower-valued fast-moving consumer good players.
Cigarette business has always been a challenge due to the government hiking excise duties.
Might see further unlocking from a long term perspective based on divestment of businesses.
Wait for decline and keep adding on declines
Power Grid (CMP: Rs 306.55)
Cunha: Buy
Very strong position with a good business outlook.
Establishing facilities to overcome the hurdle of lack of storage and transport facilities for renewable energy.
Once can look at accumulating at current levels.
Gandhi: Selling Pressure May Sustain
Negative outlook on the stock from a short-term point of view.
Losing its relative strength compared to the general market, below key moving averages.
Selling pressure may sustain for a while longer.
Coal India (CMP: Rs 380.35)
Gandhi: Avoid
Looks bearish, below key moving averages.
Selling pressure may continue.
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