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Buy Inox Wind, Hero MotoCorp, Chennai Petroleum; Sell Indigo - IndiaNotes.com
Buy Inox Wind, Hero MotoCorp, Chennai Petroleum; Sell Indigo
Reliance Securities | Published: 08 Feb, 2018  | Source : IndiaNotes.com
As expected, Inox Wind revenue fell by 88.5% YoY in 3QFY18 to Rs 909mn owing to ongoing transition to auction regime. Looking ahead, though we expect the slowdown to persist in 4QFY18 as well, we envisage normalisation to begin from 1QFY19E onwards, while the execution is expected to pick-up pace from 3QFY19E onwards.

We maintain our BUY recommendation on the stock with a Target Price of Rs 155.


Positional Pick

HEROMOTOCO (LTP: 3566) BUY

For today’s trade, long position can be initiated at 3530-3500 for target of Rs 3775 with a strict stop loss of Rs 3410.

Intraday Picks

CHENNPETRO (LTP: 369) BUY


For today’s trade, long position can be initiated at Rs 366-363 for target of Rs 375 with a strict stop loss of Rs 359. Traders are advised to avoid early morning whipsaw.

INDIGO (LTP: 1212) SELL

For today’s trade, short position can be initiated at Rs 1220-1225 for target of Rs 1195 with a strict stop loss of Rs 1239. Traders are advised to avoid early morning whipsaw.   Read full report Click here to read the full report


About Reliance Securities

Reliance Securities, the broking arm of Reliance Capital, is one of the India’s leading retail broking houses, providing customers with access to equities, derivatives, currency, IPOs, mutual funds, bonds, and corporate FDs amongst others. The large array of financial offerings helps customers fulfilling their investment objectives on one platform. Focus on timely & error-free execution represents its core strength. Their best in class research offerings, high degree of compliance with stock exchange regulations, ethical business standards, & strong risk management capabilities; Reliance Securities positions itself amongst strong & innovative brands in the financial services space.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.