Should you add shares of Kaynes Technology India Ltd.? Should you hold shares of Canara Bank Ltd. at the current market price? Have you lost the chance to buy Techno Electric & Engineering Company Ltd. stock at an attractive price? Should you sell Swiggy Ltd.?
Somil Mehta, Head Alternate Research, Mirae Asset Sharekhan, CA Tapan Doshi, Research Analyst, www.catapan.in, and Deven Mehata, Manager – Technical & Derivatives Analyst, IDBI Capital Market and Securities Ltd. provided insights on these investor queries and more on NDTV Profit's Ask Profit show.
Kaynes Technology India Ltd. (CMP: Rs 3,205.90)
Somil: Wait and Watch
- Kaynes Tech is in downtrend in short and medium-term.
- Not bullish on this stock. Expecting it to go down to Rs 2,700 levels.
- Time to revisit the stock at Rs 2,700.
Tapan: Hold but don't buy
- Kaynes Q4 results were disappointing.
- Revenue guidance missed expectations.
- Not convinced with management commentary.
- Hold for one more quarter because valuations look okay.
Techno Electric & Engineering Company Ltd. (CMP: Rs 1,079.10)
Tapan: Accumulate
- Sector and company both are doing well.
- Data centres businesses are scaling which will help the company.
- Working capital pressure is there but margins will be better going forward.
- Valuations looks okay. Accumulate in SIP for long-term.
Mphasis Ltd. (CMP: Rs 2,292.50)
Tapan: Wait and watch
- Stock will take some time. IT is in pressure.
- They have lot of BFSI client concentration which is a risk.
- GCC competition is also increasing.
- Stock will consolidate at this level. Wait for some time.
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Canara Bank Ltd. (CMP: Rs 132.86)
Deven: Hold for long-term.
- Stock has support of Rs 130 on the lower side.
- On the upside, can't see any reversal till it crosses Rs 140 levels.
- If view is long-term, hold with a stop loss of Rs 130.
- Exit at any bounce.
Jagran Prakashan Ltd. (CMP: Rs 75.01)
Somil: Wait and Watch
- Stock has come above short-term moving averages.
- Stock has broken out of inverted head-and-shoulder pattern.
- For medium term-outlook, target is Rs 83.
Swiggy Ltd. (CMP: Rs 261.10)
Somil: Sell
- Negative on the stock. Switch to Eternal.
- If holding is the view, look out for Rs 330 levels.
- Stock won't go above Rs 330 levels.
Gandhar Oil Refinery India Ltd. (CMP: Rs 159.31)
Deven: Hold
- Overall structure is sideways.
- Buying interest on lower levels can be seen on charts.
- Hold with trading stop loss of Rs 148.
- On the higher side Rs 175 is the immediate resistance, can see upmove after that level surpasses.
Ola Electric Mobility Ltd. (CMP: Rs 42)
Tapan: Sell
- Profitability timeline is unsure as Ola is very volatile.
- Company is diversing portfolio.
- Reduce the exposure on this stock.
- Better to move to Ather, Hero Honda or Bajaj
Deven: Hold
- Overall structure is positive.
- Hold with a stop loss of Rs 39.6.
- Counter moving towards Rs 45 levels.
- If Rs 45 levels are crossed, next level is Rs 52.
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Disclaimer: The views and opinions expressed by the investment advisers on NDTV Profit are of their own and not of NDTV Profit. NDTV Profit advises users to consult with their own financial or investment adviser before taking any investment decision.
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