Indian stock market calls-Nitin Gupta(30/Sep/09)

Categorized | Featured, sensex

Indian stock market calls-Nitin Gupta(30/Sep/09)

Posted on 29 September 2009 by Anubhav Arya

Currentopics.com

Market Guru

Nitin Gupta

Full Name : Nitin Gupta

Designation: Managing Director

Company Name: Gupta Consultancy Services

Experience in stock market: 9 years

Company Profile: Portfolio management
Services

Today’s Call

Buy Pantaloon Retail

Pantaloon Retail (PRIL)’s 4QFY09 results beat stree estimates at the operating level. EBITDA margins reached 11% in 4QFY09, the highest ever level for the company. Net profit growth showed an accelerating trend QoQ, growing at 12% (c6% in 2Q and 3Q), while sales grew by 20%. Same-store-sales (SSS) growth is showing clear signs of recovery: 4QFY09 SSS grew by 7.7% while sales during the ongoing festive season in the Eastern region have posted a 20%+ growth in SSS. Consumer sentiment in urban India is clearly improving with the economic recovery as well as the restoration of income and job security. This bodes well for PRIL, which draws c65% of its revenues from the top 7 cities in the country. Margins have held up well in the difficult last few quarters through a tight leash on costs. With a further improvement expected in the SSS growth, tight cost control, and the new supply chain and private label initiatives, we expect margins to improve from hereon. I would therefore advise you all take this stock in delivery for price target of 430 plus.

Buy Asahi India Glass

Asahi India Glass has been buzzing, a lot of media talk on the stock. This stock is doing well; the patterns are good, the short-term targets would be Rs 74 and Rs 79 and that could be the target if somebody is looking to trade for a week or week-and-a-half, it would be a good target on the upside. I would recommend a buy at current price with a stoploss of below Rs 59.

Levels for Nifty

Your Ad Here

Nifty may open on a flat to positive note. The support levels are 5000 and 4980 and nifty will face a major resistance near 5055.

Follow us on twitter too follow @ct_stock

NO ONE WILL GIVE YOU ALL SERVICES AT ONE PLACE & IT’S FREE OF COST

Nitin Gupta @ 09867427824

Email Us if you have any Stock related problems : Stocktips@currentopics.com

Disclaimer : These Recommendations are based on technical analysis and Personal observations. Due care has been taken while preparing these comments, no responsibility will be assumed by the author for the consequences what so ever, resulting out of acting on these recommendations.

Disclosure : The calls made herein are for informational purposes and are not recommendations to any person to buy or sell any securities. The information is derived from sources that are deemed to be reliable but its accuracy and completeness are not guaranteed. The above calls are based on the theory of technical analysis. The author does not accept any liability for the use of this site. Readers of this site who buy or sell securities based on the information.