ICICI Bank can rally upto Rs 625-630: Gujral

Technical Analyst, Ashwani Gujral is of the view that ICICI Bank can rally upto Rs 625-630.
Gujral told CNBC-TV18, "ICICI Bank hits a key support zone between Rs 500-550. The stock when it falls 10% on rumours of management selling, that is probably a good time to buy into that. It was at Rs 700 just seven days back. So, I think you could see a rally right up to Rs 625-630."
He further added, "Ranbaxy has seen a lot of bad news. Even Rs 350-360 is a good level from a medium-term perspective. It will take some time to recover. But you could get resistance around Rs 425-430."

MoneyControl

Above Rs 400, ICSA has target of Rs 900: Agarwal

Sanjeev Agarwal of Globe Capital Market is of the view that above Rs 400, ICSA has target of Rs 900.
Agarwal told CNBC-TV18, "ICSA India is a good company; fundamentally it is in a right space. They are providing solutions to the electricity boards and they are in the power space. So a lot of reforms are getting in and all these electricity boards require these kinds of expertise, which opens up a huge market for this particular company."
He further added, "Technically this company has been outperforming and it has a sideways kind of a structure. Right now we are seeing a range between Rs 200 and Rs 400. Once it crosses Rs 400, we are looking at a target of somewhere around Rs 900 for that. So this seems to be an extremely bullish pattern, which is unfolding. The breakout of that is somewhere around Rs 395-400." Disclosure: Analyst doesn't hold the above stock but have recommended it to the clients.

MoneyControl

Shiv Vani Oil has target of Rs 725: Gumashta

Abhishek Gumashta, Research Analyst of Sharekhan is of the view that Shiv Vani Oil & Gas Exploration Services has target of Rs 725.

MoneyControl

Accumulate banking stocks: Choksey

According to Deven Choksey of KR Choksey Securities in falling market banking should be accumulated.
Choksey told CNBC-TV18, "For me I think bank is a good holding into the portfolio, so as far as the investment is concerned there is no question of looking back into the banking stocks. You would have such kind of jerks coming in because of what has happened to ICICI Bank but market has probably overdone most of the time in such kind of situation. Even in case of ICICI Bank, if one looks at it, I think if one has to factor the full Mark to Market (MTM) provision for whatever outstanding that they have into the overseas market, including Lehman's outstanding position, then I think also the maximum amount of loss per share for ICICI would be not more than Rs 8/share."
He further added, "If you see the loss of market capitalisation it is something very substantial. So I would say that in such situation, given the kind of merits with the banks like ICICI, I would venture into some kind of a buying at lower levels and not sell my portfolio, which I am holding into the baking stock particularly with the PSU banking stock like State Bank of India. So my position is very clear in falling market banking should be accumulated."
Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.

MoneyControl

Buy ICICI Bank on dips: E Mathew

Technical Analyst, E Mathew is of the view that one should buy ICICI Bank on dips.
E Mathew told CNBC-TV18, "At a cursory glance, ICICI Bank just looks like a squeeze but I should say chaotically there is still quite a long way to go though it has been a magnificent move up today. I think, it could be a buy on dips strategy now for ICICI Bank and an important bottom has been made in place. If one has got a heart especially if one could get the stock somewhere round about Rs 590-595 zone, this stock could provide great opportunity not only for traders but as well as investors. The target for this move is surely somewhere round about Rs 685-700 zone."
Disclosure: It is safe to assume that analyst & his clients may have an investment interest in the stocks/sectors discussed.

MoneyControl

Bannari Amman Sugars: Buy

The sugar cycle is on the verge of an upturn, with the sharp contraction in sugarcane acreage pointing to lower sugar output and tighter supply over the next couple of years. With sugar prices already beginning their ascent, producers can look forward to a sharp improvement in realisations and profitability over the next couple of years.
The stock of Bannari Amman Sugars (Rs.824), offers a good investment opportunity for those looking to take advantage of the likely earnings momentum in the sugar sector. Facilities located mainly in Karnataka and Tamil Nadu and a history of good relations with farmers ensure that Bannari Amman Sugars enjoys access to adequate quantities of cane even in a deficit year.
Hindu BusinessLine

Shree Cement: Buy

Hindu BusinessLine have put a buy rating on Shree Cement. The sharp de-rating of cement stocks, due to concerns about limited pricing power, has trimmed valuations for producers such as Shree Cement.
Investors who bought the stock on our earlier recommendation should hold on, given the prospect of upside linked to better valuations. The stock can be accumulated by investors willing to hold on for a 3-year time frame.