Trading Ideas: Hold Mastek, PG Electroplast, Tata Motors Shares For Long Term

Market experts suggest holding Mastek Ltd., PG Electroplast Ltd., Tata Motors Ltd., and Ramkrishna Forgings Ltd.

Nirmal Bang Institutional Equities Technical Research Assistant Vice President, Swati Hotkar, and Hem Securities Senior Research Analyst, Astha Jain, shared their insights on these stocks and more.

Astha Jain: Mastek Ltd. is looking positive to Hem Securities. A 'hold' is definitely recommended from the brokerage. It's good story for at least coming two quarters. It has taken a wage hike in second quarter. Despite that, Mastek has performed very strongly. So, the coming two quarters will be great for margin perspective because there will be no impact of the wage hike. 

Mastek also has a strong order backlog. On this basis, the sales and profit are expected to be at around 12% for the company. All in all, it's still looking like a decent counter to Hem Securities. The long term price target is at Rs 3,400–3,500 apiece. 

Swati Hotkar: It's in consolidation range. The stock is trading within the range of Rs 400–450 level from the last three months trading sessions. If it breaks out, then positive momentum is expected.

As of now, the stock is under the no trading zone, so a 'hold' on long position is suggested with a target of Rs 500 level. It has a crucial support at around Rs 400–420. So, maintaining the stop loss, one can have a long position on Monarch Networth Capital Ltd. 

Astha Jain: It's a decades old company. Its main focus is room air conditioner, etc. The financial performance is excellant. The kind of orders the company is getting will definitely pave the way for more upside momentum for the counter. For long–term, there's no need to book profit at current juncture. Above Rs 1,000 levels could be good to book profit.

"As of now, it's a hold from my side. The target which I would like to recommend the counter is at around Rs 1,100 at present moment," Jain said.

Swati Hotkar: The overall sector is not performing well. Monthly chart indicates that it's trading on a side–based momentum. Ramkrishna Forgings Ltd. stock gave a good rally four to six months back.

On the downside, the selling pressure is likely to continue. The stock will probably test the previous lows of Rs 862–870 levels. From there onwards, a sort of recovery can be expected. At current levels, the view will be cautious, but for longer term horizon, the counter looks good. 

"On every dip towards Rs 850–860 levels, you can average it out for six months to one–year. The immediate target will be Rs 1,000."

Astha Jain: Despite all the challenges to Jaguar Land Rover segment, the new product launches will help the company gain momentum. They are working good in the commercial vehicle segment also.

Tata Motors is well poised to show good, strong future performance. It's better to remain invested in the stock. The stories are for longer term, Jain said.

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