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Buy, Sell Or Hold: Infosys, ITC, Zomato, Paytm, Yes Bank, Tata Power —Ask Profit

Experts from StoxBox and AngelOne analysed market trends, providing buy, hold, or sell recommendations for Tata Power, Zomato, Infosys, ITC, Yes Bank, and Vodafone Idea shares.

<div class="paragraphs"><p>Manish Chaudhary of StoxBox and Amar Deo Singh from AngelOne discussed strategies for investing in Tata Power, Zomato, Infosys, ITC, Yes Bank, and Vodafone Idea. Their advice includes whether to buy, hold, or sell these shares. (Photo source: Freepik)</p></div>
Manish Chaudhary of StoxBox and Amar Deo Singh from AngelOne discussed strategies for investing in Tata Power, Zomato, Infosys, ITC, Yes Bank, and Vodafone Idea. Their advice includes whether to buy, hold, or sell these shares. (Photo source: Freepik)

Should you buy shares of Tata Power Ltd. and Zomato Ltd. at the current price? Are One97 Communication Ltd. and IDFC First Bank Ltd. good choices from a long-term perspective? Should you keep holding Infosys Ltd. and ITC Ltd.? Is it the right time to exit Yes Bank Ltd. and Vodafone Idea Ltd. to book profit?

Manish Chaudhary, head of research at StoxBox, and Amar Deo Singh, senior vice president from AngelOne, answered these investor queries and more on NDTV Profit's Ask Profit show.

Infosys (CMP: Rs 1,976.60)

Manish: Hold.

  • Overall IT sector has seen run up in the last few months.

  • According to the latest management commentary worst of the fall is behind and discretionary spending could see a comeback.

  • As BFSI segment is showing some traction, this could pass on to other sectors as well.

  • However, the third quarter earnings will be on a lower side due to furloughs due to large holidays in US.

  • Would suggest a hold as there is no major downside.

  • In the next 2-3 quarters Infosys could surprise the street with the upward trend.

ITC (CMP: Rs 469.55)

Amar: Hold.

  • ITC is one such company that an investor can keep in their portfolio.

  • Looking at sectors of the company, currently it is operating in diverse business segments like FMCG and agriculture.

  • Holding a position in the company is a good idea.

Yes Bank (Current Market Price: Rs 20.96)

Manish: Avoid entering and exit at bounce.

  • The private sector bank posted consistent results, but it has a very large equity base, and it is still looking for buyers for the stake held by SBI.

  • For those who are looking to enter the company, would say avoid it.

  • Would suggest exiting on any bounce in Yes Bank.

  • If looking from the perspective of 1-2 years, then look for other alternative in the banking sector.

Tata Power (CMP: Rs 420.90)

Manish: Hold.

  • Fundamentally in the power generation space Tata Power is a good stock.

  • It has distributed itself equally in in hydro, thermal and renewable segments.

  • It also has strong commissioning pipeline for the next 3-4 years.

  • Hold at this price and it would see improved performance in the coming time.

One97 Communication (CMP: Rs 1,014.65)

Amar: Hold.

  • Lot of regulations kicked in since December 2021.

  • However, looking at the chart from last quarter of December 2021, stock has turned around quite well and turned into a multi bagger since then.

  • Wait for some correction to enter as markets corrected but this stock hasn't corrected.

  • The stock is steady on psychology level.

  • Hold on for long term and the stock will rally toward Rs 1,200 levels.

Zomato (CMP: Rs 294.15)

Manish: Hold.

  • The stock had a fantastic run in last one year and it touched Rs 300 levels.

  • The major driver is that the street expects BlinkIt will do well.

  • There is lots of scalability opportunities there for BlinkIt as it is looking to expand dark stores.

  • The business of Zomato was doing well but BlinkIt is an add on advantage.

  • In addition, it has recently acquired ticketing business so together it will give better performance.

  • In last two quarters it has given good profit.

Amar: Add During Correction.

  • For long term, the company has turned around and is on right track.

  • The profitability of the company is also scaling up.

  • From a technical perspective it is going strong, but it is important to bear in mind that it could witness volatility.

  • Would suggest buy during significant correction.

IRCTC (CMP: Rs 826.80)

Manish: Hold but if looking for fresh entry then there are better options.

  • Fundamentally the stock is doing good, but looking at valuation it is trading at 50x multiple.

  • Going forward scalability is going to be an issue for all segments of the firm.

  • IRCTC has also not been able to justify the valuation it trades at.

  • If investors are holding at higher level, then hold but if they are looking for fresh entry then there are better stocks.

Amar: Hold.

  • It is trading in a narrow range of Rs 850-860 zone which is its strong resistance zone.

  • If its is trading above the range, then would be first sign that it could go up to Rs 900.

  • Since short term chart is negative the stock is seeing such choppiness.

IDFC First Bank (CMP: Rs 63.61)

Manish: Hold.

  • Second quarter earnings took big hit due to larger provisions.

  • Focus on growing retail and corporate book will bear fruit as we go forward.

  • At current level makes sense to hold for 2-year perspective.

Indian Hotel (CMP: Rs 880.05)

Amar: Hold and book part profit.

  • One stock that performed well in this quarter and was 30%. On year-to-date basis the stock has risen 100%.

  • Charts of all time frame suggest a strong growth.

  • The stock is on upward trajectory so one can hold, but they can also book part profit.

Mahesh: Buy.

  • Hospitality growth is going to be strong and most of the companies will see an upward trend.

  • The firm holds a mix of owned and managed properties and that bodes well for its operating performance.

  • In the last few years it has deleveraged its balance sheet so that is an additional point in favor of this company at the current price.

Canara Bank (CMP: Rs 105.16)

Amar: Buy after correction.

  • There was some sharp up move and then it was some correction.

  • From that perspective, the long-term charts are also giving positive indicators.

  • Currently it is seeing some consolidation in Rs 90-100 zone.

  • Currently buying would be good opportunity but wait and then buy at lower price.

  • Till it doesn't trade above Rs 120 level it will be in consolidation zone.

Vodafone Idea (CMP: Rs 7.81)

Manish: Avoid.

  • From fundamental perspective would ask investors to stay away.

  • The telecom company has seen a huge loss in base subscribers.

  • It is still trying to penetrate into 5G.

  • The financial situation is dire as debt is higher.

  • For operational performance to kick in the debt needs to be reduced.

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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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