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:
- DHFL: DHFL closed weekly in negative territory. It?s still consolidating in narrow range in this wave-IV correction. It?s outperforming in short term. It?s trading above 40 DMA. Its weekly momentum indicators are in BUY. One can BUY with stop loss of 590 for the target of 645/680 levels in short term. (Source: http://www.business-standard.com)
- M&M: M&M closed weekly in positive territory. It?s outperforming in short term. It has wave-V up pending as per daily chart. Its daily momentum indicators care BUY. Risk reward is favorable to BUY at current levels. One can BUY with a stop loss of Rs 880 for the target of Rs 925/940 levels in short-term. (Source: http://www.business-standard.com)
- POWERGRID: POWER GRID closed the weekly in negative territory. Its look like this short term correction is good buying opportunity. Its weekly momentum indicators are in BUY. It managed to found support near 200 DMA. Risk reward is favorable to BUY at current levels. One can BUY with a stop loss of Rs 199 for the target of Rs 212/215 levels in short-term. (Source: http://www.business-standard.com)
- L&T: L&T closed the weekly in positive territory. It?s trading above 40 DMA. Its daily momentum indicators are in BUY. Its outperforming in short term. Risk reward is favorable to BUY at current levels. One can BUY with a stop loss of Rs-1350 for the target of Rs 1408/1430 levels in short-term. (Source: http://www.business-standard.com)
- TATA CHEMICALS: TATA CHEMICALS closed the weekly in negative territory. It?s consolidating in narrow range. Its weekly momentum indicators are in BUY. Risk reward is favorable to BUY at current levels. One can BUY with a stop loss of Rs-720 for the target of Rs 760/780 levels in short-term. (Source: http://www.business-standard.com)
- Idea Cellular: The board of Idea Cellular has called for an extraordinary general meeting (EGM) on June 26 to approve changing the name of ?Idea Cellular Limited? to ?Vodafone Idea Limited?, as the merger of India’s second and third ranked telcos nears completion. The EGM will also consider the board’s plan to raise funds via nonconvertible securities of not more than Rs 15,000 crore, which may be used to pare debt, with the merged entity looking to strengthen its balance sheet to take on rivals Reliance Jio and Bharti Airtel. (Source: indiatimes.com)
- ICICI Bank: Capital markets regulator Sebi has said in a showcause notice that ICICI Bank?s chief executive Chanda Kochhar didn?t adhere to its code of conduct, which required the disclosure of any conflict of interest in the case involving Videocon Group and NuPower Renewables, a firm owned by her husband Deepak Kochhar, ET reported. The showcause notice also said that the bank indirectly violated the disclosure norms of the Securities and Exchange Board of India (Sebi) by not divulging this information, the report added. (Source: indiatimes.com)
- Cadila Healthcare: Zydus Cadila has received the final approval from the USFDA to market Doxycycline Hyclate capsules USP, antibiotic used for treating bacterial infections, Cadila Healthcare said on Saturday. “Zydus Cadila has received the final approval from the USFDA to market Doxycycline Hyclate Capsules USP, 50 mg and 100 mg,” the company said in a regulatory filing. (Source: indiatimes.com)
- BoB, IDBI Bank, OBC, Central Bank: The government is considering merging at least four state-run banks, including Bank of Baroda, IDBI Bank, Oriental Bank of Commerce and Central Bank of India, Mint repprted citing two people aware of the matter. If the plan goes through, the merged entity will become the second-largest bank in the country after State Bank of India, with combined assets of Rs 16.58 trillion. (Source: indiatimes.com)
- Coal India: Coal India will try out a new customer-friendly billing system for consumers with state-owned power major NTPC on a pilot basis, in line with a global quality practice framework, PTI reported citing a top official. The new billing mechanism will compute prices on every unit of Gross Calorific Value (GCV( of coal, doing away with the grade policy at present. (Source: indiatimes.com)
- GMR Infra: The Maldivian government has slapped a notice seeking $20.5 million towards income tax and fines on GMR Male International Airport, a GMR group company, that won $271 million arbitration against the premature termination of Male International Airport contract. A GMR spokesperson refuted the tax claim by the island nation and said they are awaiting response from Maldives Airports Company Limited on the issue. (Source: indiatimes.com)
- Alembic Pharmaceuticals: Alembic Pharmaceuticals has earmarked a capital expenditure of Rs 720 crore for this fiscal year to complete existing projects and on maintenance, a senior company official said. The company had spent about Rs 600 crore of capex in the last fiscal year (FY18). (Source: indiatimes.com)
- Tata Motors: Global brokerge Nomura has maintained ?Buy? rating on the stocks with target price of Rs 495. The brokerage expects 9 per cent growth in overall JLR volumes in 2018-19. (Source: indiatimes.com)
- Vedanta: The permanent closure of Vedanta?s Thoothukudi copper smelter will reduce the company?s scale and business diversity, adding pressure to its other businesses to maintain their strong performance and make up for decline in revenue, global ratings agency Moody?s Investors Service said. However, Moody?s said it expects Vedanta?s other businesses ?- zinc, aluminium and oil & gas ? to deliver a solid performance in the fiscal year ending March 2019, boosted by strong commodity prices and higher production volumes. (Source: indiatimes.com)
- Lemon Tree Hotels: CLSA has initiated coverage on Lemon Tree Hotels with a buy rating and target price of Rs 90. Lemon Tree?s wide geographical spread, presence across the mid-priced sector and development pipeline allow it to benefit from the expected growth in the industry led by domestic travel and higher discretionary spending trends, said CLSA. The firm expects an EBITDA CAGR of 60per cent over FY18-FY20, with return on capital employed expanding 684 bps over the same period. Shares of Lemon Tree Hotels ended down 0.3 per cent at Rs 72.55 on Friday. (Source: indiatimes.com)
- PNB: HSBC has retained reduce rating on PNB and reduced target price to Rs 71 from Rs 92. The firm said it remains cautious despite significant underperformance due to a dim earnings outlook, significant capital erosion, and likely dilution given weak CET1 and low valuations. The firm expects the bank to report a loss for FY19 on the back of higher provisioning and slower loan growth. Shares of Punjab National Bank ended down 0.8 per cent at Rs 82.90 on Friday. (Source: indiatimes.com)
Disclaimer: The Stocks 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.