Stock views on Ahluwalia Contract, Praj Industries, Tata Metaliks

India Infoline on Tata Metaliks - Target Rs 177

 

India Infoline research is bullish on Tata Metaliks and has recommended buy rating on the stock with a target of Rs 177, in its research report.

"On the daily chart, Tata Metaliks gave an upside breakout in Monday's trading session. It suggests that the sideways range is about to end. On Monday, the stock rallied by over 3% confirming the bullish set up. The daily momentum oscillators i.e. RSI and MACD are suggesting strength in the upmove. A move above Rs 164, could take the stock above Rs 175 in the near term. Keeping in mind the above-mentioned observations, we suggest traders to buy the stock in the range of Rs 159-164 with a stop loss placed at Rs 155 for an initial target of Rs 177," says India Infoline research report.

India Infoline on Praj Industries - Target Rs 99

 

India Infoline research is bullish on Praj Industries and has recommended buy rating on the stock with a target of Rs 99, in its research report.

"The daily Candlestick Chart shows that Praj Industries has been on a strong downtrend for the past few months. In fact, the stock has seen a sharp decline from Rs113 in January 2010 to a low of Rs79. Since then, the stock has not re-test this low. The daily RSI is exhibiting strong positive divergences, which indicates that the worst is over and that the trend should reverse from the current levels. We expect the stock to witness smart pullback from the current levels. Volumes have shown a smart increase in the past few sessions, which suggests accumulation at lower levels. A bullish candlestick on Monday further validates our argument of a short-term bounce in the stock. Traders can buy the stock at current levels and on declines to the levels of Rs 90 for a target of Rs 99. It is advisable to maintain a stop loss of Rs 87," India Infoline research report.

LKP Shares on Ahluwalia Contract - Target Rs 296

 

LKP Shares is bullish on Ahluwalia Contract and has recommended buy rating on the stock with a target of Rs 296, in its research report.

"Investment in Infrastructure in India is expected to rise manifold with Government of India targeting an investment of USD 456 billion over the XI Plan. Ahluwalia Contracts (ACIL), a leading construction company with expertise in construction of residential, commercial institutional & industrial projects is a clear beneficiary of this growth.  In our view the robust earnings CAGR of 35%, ROCE of 51% and ROE of 41% reflects ACIL's leadership position in the segments of its presence. We initiate coverage on ACIL with a BUY rating with a 1 year target price of Rs 296," LKP Shares research report.