Should you increase your holdings in Axis Bank Ltd. and NCC Ltd. at current levels? Does Central Depository Services (India) Ltd. share price have more upside to see? For how long should you hold shares of BSE Ltd.?
Sameer Dalal, owner of Natverlal & Sons Stockbrokers and Kushal Gandhi, technical analyst at Stoxbox, answer queries over stock to buy and avoid.
Axis Bank 👎
Gandhi: Avoid
According to Gandhi, the stock is trading down constantly since its record high on July 12. It has been trending with lower lows and lower highs, he said and he expects downtrend to continue further and selling pressure sustaining.
NCC 👎
Dalal: Buy at lower levels
Dalal recommends holding on and adding more if it moves closer to Rs 260. The stock has run up quit a bit because of order win and govt infrastructure. This trend is going to sustain, he said adding that it is not cheap. He expects to see a decent return over the next two years.
Abbott or Dr Reddy's 👍
Dalal: Both are good, but
Both companies are engaged in different businesses — while Abbott India Ltd. focuses more on India, Dr Reddy's Laboratories Ltd. is a play on global expansion, said Dalal.
While valuation for Abbott is rich, the stock has traded at these levels for over last 15–16 years. He advises investors to make the switch from Abbott to Dr Reddy's for a simple reason that latter has a large opportunity of growth.
CDSL 👎
Dalal: Switch to comfortable valuations
Dalal said that the stock is a great long-term investment as penetration of demat in India is very low. The only problem he see is that valuation is beyond fathomable and if demat account opening starts reducing, these premium valuations will be in question.
BSE 👎
Gandhi: Hold with a stop-loss
Gandhi recommends holding with a stoploss of Rs 5,254. While he believes that the trend is going well he said some fatigue is visible. At 11:47 a.m., the stock traded 1.7% down at Rs 5,693.55.
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