We have collected some hot stock based on both fundamental and technical basis across various web sources that are on radar to be trade on this week:
- ITC: The stock has been consolidating at around 280 – 285 and has maintained above the 34WMA moving average to indicate a positive bias and currently has shown a positive candle pattern in the daily chart to signify strength and potential to rise further in the coming days. With good consistent volume participation witnessed, we recommend a buy in this stock for an upside target of 305 keeping a stop loss of 268. (Sources: Business Standard)
- JUBILANT FOOD: The stock has made a higher bottom formation pattern in the daily chart almost taking support at the 50 DMA moving average and has made the chart look attractive. The RSI indicator has hit the oversold zone and has indicated a trend reversal to signal a buy. The overall long-term trend has been maintained with a positive bias and with good decent volume participation seen, we recommend a buy in this stock for an upside target of 2700 keeping a stop loss of 2390. (Sources: Business Standard)
- UltraTech Cement: Aditya Birla Group-owned UltraTech on Sunday approved the reorganisation of the cement business of Century Textiles and Industries and its absorption into UltraTech, giving itself the leadership in all regional markets in a deal that has long been in the works involving Kumar Mangalam Birla and his grandfather BK Birla. (Source: economictimes.indiatimes.com)
- Indostar Capital Finance: NBFC Indostar Capital Finance, which recently concluded its initial public offer, will make stock market debut today. The Rs 1,844-crore IPO was subscribed 6.80 times during May 9-11. The price band of the offer was fixed at Rs 570?572 with a face value of Rs 10 per share. Indostar is mainly into offering structured term financing solutions to companies and loans to SME borrowers. (Source: economictimes.indiatimes.com)
- OMCs: Petrol and diesel prices have risen to record levels in the country following rocketing international fuel rates and a weaker rupee, piling pressure on the government to cut duties and bring relief to customers. On Sunday, petrol was priced at Rs 76.24 per litre at Indian Oil pumps in Delhi, more than the previous all-time high price of Rs 76.06 reached in September 2013. (Source: economictimes.indiatimes.com)
- PNB, Gitanjali Gems: Markets regulator Sebi will consider penal action against Punjab National Bank and Gitanjali Gems after completion of its probe into suspected trading and disclosure related issues in the matter of over Rs 14,000 crore banking fraud, senior officials said (Source: economictimes.indiatimes.com)
- Jaiprakash Associates: Crisis-ridden Jaiprakash Associates (JAL) has decided to appeal against the NCLT order that directed the company to return nearly 760 acres to its subsidiary Jaypee Infratech, while declaring the transfer of the land as ?fraudulent? and ?undervalued?. The order came over a petition filed by Jaypee Infratech’s resolution professional Anuj Jain in the the National Company Law Tribunal (NCLT) seeking direction over the transactions entered by the company’s promoters, creating mortgage on its 858 acre to secure debt for JAL. (Source: economictimes.indiatimes.com)
- Hindalco Industries: Leading aluminium producer Hindalco Industries is set to raise about Rs 5,000 crore by selling corporate bonds to repay bank loans, a move that is expected to reduce its credit costs. “We want to pay back at least Rs 5,000 crore this year and probably refinance it with a bond in the Indian market,? Satish Pai, MD at Hindalco, told ET. The company?s current net debt stands at Rs 15,000 crore. (Source: economictimes.indiatimes.com)
- RIL: Bharti Airtel has slammed Reliance Jio Infocomm for levelling false and baseless allegations about its new Apple Watch service and sought imposition of the highest penalty on its rival for making frivolous and unsubstantiated complaints. Airtel asked the Department of Telecom (DoT) to seek proof from Jio to support its allegations or apologise. (Source: economictimes.indiatimes.com)
- Fortis Healthcare: YES Bank, the single-largest shareholder in Fortis Healthcare, has urged the board to consider revised bids for the company submitted after the Munjal-Burman offer was accepted to ?maximise? value for investors. It urged the board to consider inviting other interested companies that did not submit or revise their bids. (Source: economictimes.indiatimes.com)
- Balrampur Chini Mills: Leading sugar firm Balrampur Chini Mills posted standalone net loss of Rs 42.69 crore for the fourth quarter of 2017-18, mainly due to higher expenses. The company had reported a net profit of Rs 200.39 crore in the same quarter previous fiscal, according to a regulatory filing. (Source: economictimes.indiatimes.com)
- Shobha: Realty firm Shobha has reported a 42.17 per cent increase in its consolidated net profit to Rs 65.4 crore in the fourth quarter of 2017-18, on higher sales. Its net profit stood at Rs 46 crore in the same quarter last year, the company said in a regulatory filing. Total revenue rose over 32 per cent to Rs 789.2 crore during January-March quarter of 2017-18 compared to Rs 601.3 crore in the year-ago period. (Source: economictimes.indiatimes.com)
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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.