Saturday, June 16, 2018

Winning Strokes: Think Different
Profit Booking was suggested in the shares of Vakrangee Ltd (Rs.41.2) yesterday, after the company reported 50% plunge in the consolidated net profit for January-March quarter of the financial year 2017-2018. The shares of Vakrangee have been on a roller coaster ride since October 2017 till now. In the span of last 8 months, the scrip of Vakrangee Ltd hit an all-time high and have subsequently dropped to multi-year low. Therefore, expert help is necessary while dealing with these kinds of shares. Where is the next support?

A buy call was given in the shares of Jain Irrigation Systems Ltd at around Rs.97-98, for short term target of Rs.117-117. The stock closed at Rs.97.80 in the BSE. Earlier the company announced that India Ratings and Research has upgraded the company's long term issuer rating to IND A- from IND A--. There were earlier media reports that the company is going to execute integrated drip irrigation project in Vidarbha region. The said project is based on pioneered concept of company Jalgaon i.e. resource to root. This project is likely to improve the water use efficiency from current 35% to 90% and we are proud to be selected as the agency to implement the project, said Ajit B Jain, joint managing director of Jain Irrigation. However, this is not a momentum counter.

The stock of HDIL (Rs.22.95) should be accumulated on all dips for targets of around Rs.37-39. The recent government fiat on affordable housing is positive for the company. 

Profit booking was suggested in the shares of P C Jewellers Ltd at around Rs.157. The scrip yesterday closed at Rs.157,55.

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