Mangalore Refinery and Petrochemicals Ltd which was recommended at Rs.48.95 on 22 January, 2015 today made an intra-day high of Rs.64.40 before closing at rs.63.30 up 3.52%. In the process the stock reached all its short term targets.
Today my recommended Firstsource Solutions Ltd touched Rs.34.75 intra-day before closing at Rs.34.30 up more than 8%. The next target for the scrip is Rs.37 on its way to Rs.42.
My recently recommended Unitech Ltd which fell today to Rs.17.35, intra-day recovered at the end of the day to close flat at Rs.18.15. Unitech Ltd, meanwhile reported a 32% increase in consolidated net profit at Rs.43.33 crore for the quarter ended December 2014 due to lower operational expenses and interest outgo. Its net profit stood at Rs 32.82 crore in the year-ago period. Finance costs declined to Rs 7.33 crore from Rs 28.06 crore in the year-ago period. Unitech said it has a healthy balance sheet with a net debt to equity ratio of 0.57. Net debt as of December 31, 2014 was Rs.6,300.84 crore. For the nine months ended December 31, 2014, the total income and net profit stood at Rs.2,661.67 Cr and Rs.34.20 Cr, respectively. The Book Value of the shares of the company is Rs.37.72. The correction is probably over for the scrip and the next targets are Rs.22-24.