Is Tata Motors Ltd. at a good entry level to buy right now? Should you keep holding HDFC Life Insurance Co. and Nestle India Ltd.? Should you accumulate Premiere Energies Ltd.?
Rajesh Palviya, senior vice-president of technical and derivatives research at Axis Securities Ltd. and Lancelot D Cunha, chief investing officer of ValueX Wealth Connect LLP. answered these investor queries and more on NDTV Profit's Ask Profit show.
HDFC Life (CMP: Rs 710)
Palviya: Remain invested.
Projecting target to Rs 840-860.
Till the stock is holding above Rs 660–65 level, the trend will remain on the bullish side.
Tata Motors (CMP: Rs 824.2)
Palviya: Sell-on-rise strategy; Don't buy at current level.
Till the stock doesn't cross the Rs 860–870 zone, sell-on-rise can be the strategy.
Weakness in the near to short term.
Stock may correct further to Rs 750, wait for the dip to buy.
D Cunha: Wait for correction.
The stock can correct another 10–15% and wait till then for the new position.
Reliance Industries (CMP: Rs 1,298.5)
Palviya: Buy on further dip.
Stock on the weaker side, in the near to short term.
The next target will be Rs 1,250 on the downside.
Premiere Energies (CMP: Rs 1,071.4)
Palviya: Let it dip.
Any downward movement toward Rs 900 can be a good entry point.
Nestle India (CMP: Rs 1,071.4)
D Cunha: Add on current levels or at decline.
Valuations have got reasonably corrected, closer to the long-term averages.
Just a matter of time before earnings continue to grow.
One can look at adding even on declines and at the current levels.
Galaxy Surfactant (CMP: Rs 3,050)
D Cunha: Can be held for the long term.
Long term looks reasonably good and will grow with FMCG.
Zydus Life (CMP: Rs 1,003)
D Cunha: Accumulate.
US demand to remain for companies, which can provide medicines at lower cost.
From a 2–3 year horizon, reasonably good returns can be expected from this stock as both sales and earnings will grow.
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