Hot Stock

We have collected some stocks based on both fundamental and technical basis across various web sources that are on radar to be trade on this week:

• PRAKASH INDS: The stock has made more or less a higher bottom formation pattern in the daily chart taking support at 192 levels and signify strength and potential to rise further in the coming days. The stock has maintained above the significant 50 DMA level and also has moved above the 34WMA moving average to maintain a positive bias and with the RSI indicating a recovery path there is much scope for improvement. With minimum risk on the downside and with the chart looking attractive for a decent return, we recommend a buy in this stock for an upside target of 230 keeping a stop loss of 190. (Source: http://www.business-standard.com)

• TATA SPONGE IRON: The stock has made a perfect higher bottom formation pattern in the daily chart maintaining above the 50DMA level and also moving above the significant 34 WMA moving average level. The stock is poised for an up move and with the RSI indicating a trend reversal to signal a buy, it has maintained a positive bias to make the chart look attractive. With decent volume participation witnessed, we recommend a buy in this stock for an upside target of 1235 keeping a stop loss of 1060. (Source: http://www.business-standard.com)

• L&T FIN: L&T FIN closed weekly in positive territory. It?s outperforming in short term. It has broken out of short term consolidation. Its daily momentum indicators are in BUY. One can BUY with stop loss of 168 for the target of 185/190 levels in short term. (Source: http://www.business-standard.com)

• FED BANK: FED BANK closedweekly in positive territory. It?s outperforming in short term. It has broken out of short term consolidation. Its daily momentum indicators care BUY. Risk reward is favourable to BUY at current levels. One can BUY with a stop loss of Rs 95 for the target of Rs 106/109 in short-term. (Source: http://www.business-standard.com)

• POWER GRID: POWER GRID closed the weekly in positive territory. Its outperforming in short term. Its weekly momentum indicators are in BUY. Risk reward is favourable to BUY at current levels. One can BUY with a stop loss of Rs 202 for the target of Rs 211-212 levels in short-term. (Source: http://www.business-standard.com)

• BAJAJ FIN: BAJAJ FIN closed the weekly in negative territory. It?s looks like wave-IV Consolidation as per daily chart & It has wave-V Up pending as per weekly chart. Its weekly momentum indicators care BUY. Risk reward is favourable to BUY at current levels. One can BUY with a stop loss of Rs-1770 for the target of Rs 2050/2100 levels in short-term. (Source: http://www.business-standard.com)

• ICICI Bank: Private lender ICICI Bank is slated to release its March quarter results today. The bank likely to register subdued numbers for the period under review, taking a likely hit from higher provisions for bad loans. An assessment by Systematix Shares & Stocks shows 35.70 per cent year-on-year (yoy) decline in standalone net profit at Rs 1,301.90 crore for ICICI Bank in Q4 FY18. The figure read Rs 2,024.60 crore in the same quarter last year. (Source: indiatimes.com)

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• Ruchi Soya: Baba Ramdev-led Patanjali Ayurved is said to have made the highest offer for the debt-ridden edible oil and soya foods maker Ruchi Soya Industries that is undergoing bankruptcy process, TOI reported citing multiple sources familiar with the matter. Ruchi Soya faces claims of Rs 12,000 crore and was pushed into the auction process as part of the government?s drive to clear bad loans choking credit at Indian banks. (Source: indiatimes.com)

• Videocon: Lenders led by State Bank of India have filed insolvency petitions at the National Company Law Tribunal (NCLT) against more than a dozen Videocon group companies that cumulatively owe about Rs 13,000 crore, a move that?s aimed at seeking a comprehensive resolution plan. The debts have been grouped into four clusters to help streamline the process, three people with the direct knowledge of the matter told ET. (Source: indiatimes.com)

• Fortis Healthcare: Manipal Health Enterprises, backed by US private equity firm TPG, has revised its offer for Fortis Healthcare, now proposing a merger of both entities in a three-step deal that values the latter at Rs 8,358 crore. The new offer envisages an infusion of funds through a preferential allotment of shares, acquisition of stake in the diagnostics unit SRL from private equity investors and a merger of Manipal Health Enterprises Private Ltd (MHEPL) into Fortis Healthcare. (Source: indiatimes.com)

• Avenue Supermarts: Avenue Supermarts (D-Mart) on Saturday reported 72.9 per cent year-on-year (YoY) rise in net profit at Rs 167 crore for the March quarter. The food & grocery retailer reported Rs 97 crore profit in the year-ago quarter. Total revenue for the quarter came in at Rs 3,810 crore, up 22.5 per cent YoY. The company had clocked Rs 3,111 crore sales in the same period last year. (Source: indiatimes.com)

• UltraTech, Binani Ind: UltraTech Cement made a revised bid of Rs 7,840 crore for Binani Cement following an order by the bankruptcy court that its lenders should consider the offer even though it had lost out to the Dalmia Bharat team, people aware of the development said. The company said on Sunday it submitted a fresh offer for debtladen Binani to meet the National Company Law Tribunal?s May 5 deadline. UltraTech declined to comment on the bid amount. (Source: indiatimes.com)

• Vakrangee: Auditing major Price Waterhouse has quit audit mandate of technology firm Vakrangee, flagging concerns to the corporate affairs ministry about the books of accounts, mainly related to its bullion and jewellery business, even as the company denied any irregularities. According to a report by PTI, the company is also being probed by the Securities and Exchange Board of India (Sebi), which had earlier probed some other entities having traded in Vakrangee shares, about alleged disclosure and corporate governance lapses, regulatory and government officials said. (Source: indiatimes.com)

• PC Jeweller: PC Jeweller (PCJ), which has been in the news for its steep share price correction since April 20, is witnessing trading volumes far in excess of that on marquee counters like HDFC Bank, TCS and SBI put together. This hints of huge speculative activity. The extent of trading interest on PCJ was seen by its deliverable quantity to traded quantity being below 10 per cent on the NSE on Friday. The traded value of PCJ shares was a whopping Rs 2,738.5 crore, almost equal to its free float market cap of Rs 2,755 crore. (Source: indiatimes.com)

• Wockhardt: Drug firm Wockhardt on Friday reported narrowing of its consolidated net loss to Rs 154.55 crore in the fourth quarter ended March of 2017-18. The company had posted a net loss of Rs 174.72 crore for the corresponding period of the previous fiscal, Wockhardt said in a BSE filing. Consolidated revenue from operations of the company rose to Rs 1,018.26 crore for the quarter under review as against Rs 863.53 crore for the same period a year ago, it added. (Source: indiatimes.com)

• Indiabulls Ventures: Indiabulls Ventures on Friday said its board has approved to raise around Rs 2,063 crore via share sale to certain foreign investors in order to capitalise and fund its two subsidiaries –IVL Finance and Indiabulls Asset Reconstruction Company. (Source: indiatimes.com)

Disclaimer: The Stock mentioned are not an advice to buy or sell. It is only for information purpose. The information is collected from various published sources. You are advised to consult your financial advisors before any decision to be taken on the stocks. In no case Wealth Discovery Securities or Ezwealth will be responsible or cannot be liable for any loss on your action taken on the stocks.