Monday, October 8, 2012

Share Tips - Reliance, Sesa Goa, Hindalco

Share market today opened on a quite note. BSE Sensex suffering by tracking Asian cues, in the morning trade. BSE benchmark dropped 55.65 points to 18,882.81 and the NSE benchmark went down 22 points to 5,724.95. Even the Indian rupee depreciated 36 paise to 52.21 against the US dollar. Asian stocks edged lower as investors booked profits following a rally last week, despite better-than-expected US employment data released on Friday. Chinese market reopens today for the first time after a week long holiday. 

Stock Market Recommendations :-

Reliance Capital :- BUY , Target: Rs 560
Rationale: The positive investment case is premised on new business growth of 12% in the life insurance segment versus a 45% decline in the last two years and also cost rationalization strategies implemented across businesses. 

Sesa Goa :- Overweight, Target: Rs 220
Rationale: Post the Supreme Court intervention in the Goa iron mining issue, they have reduced their EPS estimate by 7% due to a sharp cut in volume estimates for FY13 and FY14.

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Posted By Commodity MCX Tips