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:
- YES BANK: The stock has given a short correction from the peak of 369 to bottom out at around 325 levels and taking support at the significant 200 DMA levels it has made the chart look attractive to anticipate a bounce from here on. With the positive bullish candle pattern formed in the daily chart and also with the RSI indicator showing a trend reversal to signal a buy, the stock is poised for further rise from here on and the risk reward ratio has become favourable. We recommend a buy in this stock for an upside target of 370 keeping a stop loss of 325. (Source: http://www.business-standard.com)
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- APOLLO TYRE: The stock has been consolidating at around 274 levels and currently has produced a positive bullish candle pattern in the daily chart to signify strength and potential to rise further in the coming days. The stock has maintained above the 200 DMA moving average and has indicated a positive bias and with the RSI showing a trend reversal has indicated a buy signal. With good volume participation witnessed, we recommend a buy in this stock for an upside target of 300 keeping the stop loss of 269. (Source: http://www.business-standard.com)
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- Sun Pharma: Drug major Sun Pharma on Friday reported 6.93 per cent rise in consolidated profit at Rs 1,375.62 crore for the quarter ended March 31, which was above ET NOW poll of Rs 895 crore. This apart, the pharma major expects its 2019 revenue to come in short of analysts? expectations due to pricing pressure in its main market, the United States. (Source: indiatimes.com)
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- ICICI Bank: The Securities and Exchange Board of India has issued a show-cause notice to ICICI Bank and its chief executive officer Chanda Kochhar for alleged violation of disclosure requirements under securities law in the case involving Videocon Group and NuPower Renewables, a firm run by her husband Deepak Kochhar. (Source: indiatimes.com)
- Lakshmi Vilas Bank: Six months after raising Rs 800 crore through a rights issue, Lakshmi Vilas Bank has initiated talks with several investors ? both financial and strategic ? for selling up to 26 per cent equity to mobilise funds for expansion, ET reported. The bank has hired JP Morgan & Chase to look at various strategic options after the private-sector lender?s board, which met last week in Chennai, ratified the proposal. The bank has a market capitalisation of about Rs 2,450 crore. (Source: indiatimes.com)
- Tech Mahindra: Tech Mahindra on Friday reported a 107.80 per cent YoY surge in net profit at Rs 1,222 crore for the March quarter, which beat Rs 930.90 crore profit anticipated by analysts in an ET Now poll. The company had reported a net profit of Rs 588 crore in the year-ago quarter. (Source: indiatimes.com)
- PC Jeweller: PC Jeweller on Friday reported 7.48 per cent year-on-year rise in profit at Rs 118.28 crore for the quarter ended March 31. It had posted a profit of Rs 110.05 crore in the corresponding quarter last year. Total income of the company slipped 4.27 per cent year-on-year to Rs 2,114.50 crore during the quarter under review. The figure stood at Rs 2208.91 crore in the same quarter last year. (Source: indiatimes.com)
- Bank of Baroda: The state-owned lender reported net loss of Rs 3,102.34 crore in Q4 March 2018 as against net profit of Rs 154.72 crore in Q4 March 2017. Total income fell 0.91 per cent to Rs 12735.16 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours on Friday, 25 May 2018. (Source: indiatimes.com)
- Dilip Buildcon: The company said it was declared L-1 bidder for a new hybrid annuity project PKG-I valued at Rs 1313.90 crore by the National Highways Authority of India in Karnataka. The announcement was made after market hours on Friday, 25 May 2018. (Source: indiatimes.com)
- Cadila Healthcare: CLSA has maintained ?buy? rating on Cadila Healthcare and revised target price to Rs 460 from Rs 450. Although the US base is high and contribution of gLialda and Tamiflu will decline in FY19-20, Cadila has a strong pipeline that will enable it to grow its core US business, said CLSA. A strong US along with improving India and EM outlook led by biosimilar and vaccines launches are the key potential earnings drivers, it added. Shares of Cadila Healthcare up 7 per cent at Rs 382.50 on Friday. (Source: indiatimes.com)
- Idea Cellular: The Department of Telecommunications (DoT) may clear Idea Cellular?s proposal to increase foreign direct investment (FDI) to 100 per cent in the company within a week, having received all necessary documentation from the Aditya Birla group company and Vodafone India, senior officials said. (Source: indiatimes.com)
- Videocon: In May 2017, the Enforcement Directorate (ED), Mumbai levied a penalty of Rs 14 crore on Videocon, six group companies and promoter Venugopal Dhoot, following a reference from the Reserve Bank of India (RBI) which had examined these entities as part of a probe into conflict of interest allegations against ICICI CEO Chanda Kochhar in 2016. (Source: indiatimes.com)
- Vedanta: London-listed Vedanta Resources hopes to restart its copper smelter in Tamil Nadu and still wants to double its capacity despite protests demanding its closure that killed 13 people this week, a company executive told Reuters 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.