Sunday, February 08, 2015

Housing Development and Infrastructure Limited (HDIL):  Update
The scrip of HDIL was recommended last month in this blog around Rs.69-70 ranges. The stock made a 52-week  high of Rs.115.45 on 6 February, 2015.

Now, we can see the Financial Media, being flooded with recommendations from various sources. Meanwhile, some foreign funds have already taken stake in HDIL: .  
  • Janus Investment fund on Feb. 5 bought 2.24 mln shares at 106.08 rupees/share, according to NSE data.
  • GMO Emerging market fund on Jan. 28 bought 2.27 mln shares at 85.44 rupees/share - NSE.
  • Platinum Asset Management on Jan. 15 bought 2.17 mln shares at 72.51 rupees/share raising its stake to 9.3 pct in the company from 8.8 pct earlier, according to Thomson Reuters data.
  • Australia-based Platinum is the second largest shareholder in the company after promoters - BSE data.
Moreover, in a discussion with CNBC TV18, Kunal Bothra of LKP Securities said, he is of the view that HDIL may test Rs.140. Today (Sunday), recommendation came from a Gujarat based analyst, that the stock has formed a reverse HS-pattern on the Weekly Chart; giving a target of Rs.122 (cross over will create huge buying in this stock & take the stock to Rs.135---140 levels). 

However, I would suggest all of you to take the help of this rally, book complete profits this week around Rs.120-130 ranges (if it at all reaches there intra-day) and exit the counter for the short term. 
Post a Comment