2. Those who are holding Punj Lloyd should now keep.a SL of Rs.21.40 and keep holding for targets of Rs.27-29.
3. Those who are holding Rolta Ltd should book profit at Rs.64.40 and exit the counter, the stock.is not performing.
1. Prajay Engineers Syndicate Ltd (Rs.12.20) came out with a reasonably good bottom line in Q3FY17.
With affordable housing being the catchphrase of Budget 2017, the focus could well shift from core areas of Hyderabad to its cheaper peripheries, helping the companies like Prajay Engineers Ltd.
The city's outskirts, where land rates are cheaper, are perfect destinations for such ventures that have so far not been economically exploited. The benefits extended to this segment in FY18 budget is very encouraging.
Apart from an increased carpet area, affordable housing was also awarded the 'infrastructure status'. This will result in bigger homes for buyers and lower interest rates for developers. The average projected cost of these homes ia generally around Rs 15- Rs 20 lakh.
This will push more local players (Prajay Engineers Syndicate Ltd is a local player) to take up small projects that they shied away from until now. The investors are suggested to hold the scrip with a SL of Rs.11.70. The scrip could again attempt to cross Rs.16, in the coming days.
2. Those who are holding Punj Lloyd Ltd (Rs.20.50) can continue to add on declines, for targets of Rs.27-31. Yesterday, the percentage of deliverable quantity to traded quality was high at 41.41%.
There is speculation that the company is working towards a turn around, leading to profits in the coming quarters. Some experts are of the view that the company expects an increase in construction activities and hopes to bags projects post budget 2017.
3. Those who are still holding the scrip of NBCC Ltd (Rs.286) from Rs.284, can book some profits at Rs.288 and can hold the rest with a SL at Rs.281.
4. Those who are holding Reliance Power Ltd can continue to add on declines, for targets of Rs.47-51.
|Photo: The ET|
|Photo: The Hindu|