Winning Strokes

The Indian bourses staged a come back today after positive report flow from the US. The BSE Sensex was seen tradi g ar 54,036.35 up 287.09 points (+0.53%),.while the Nifty is was last seen at 16,100.50 up 74.70 points (+0.47). With bank interest down and real estate in doldrums, the money would continue to flow in the Indian Equities. Keep buying good stocks at reasonable valuations. Photo: Patel Engineering Ltd

#Buy the share of Patel Engineering Ltd at Rs.23.40, T: 31/32, SL: Rs.17. The company came out with excellent set of numbers for the March, 2022 quarter.

Construction company Patel Engineering Limited on Monday reported a Rs.33.58 crore consolidated net profit in the March quarter, boosted by higher income.

The company had reported a loss of Rs 145.95 crore in the January-March quarter of 2020-21 fiscal.

Its total income jumped to Rs.1,153.04 crore, from Rs.776.42 crore in the year ago quarter, the company said in a regulatory filing. The expenses during the said period were at Rs.1,082.13 crore as compared to Rs.791.13 crore in the March quarter of the previous fiscal.

In a statement, Rupen Patel, Chairman & Managing Director, said, ''We expect to continue the momentum going forward in coming quarters.'' The focus of the government towards infrastructure growth would enable the company to get more orders, he added.

#Accumulate the share of SAIL near Rs.72/73, for targets of Rs.11/117. Company's new plant at Rourkela, Orissa is doing excellently well. The stock has become almost half from its 52 - week high price.

#Buy the shares of Indiabulls Housing Finance Ltd near Rs.111, for targets of Rs.12/122. SL: Rs.107. This is a speculative, very short term call.

#Accumulate the shares of Wockhardt Ltd near Rs.261.95, for short term targets of Rs.281/289. SL: Rs.256.

#Accumulate Canara Bank Ltd near Rs.187, T: Rs.221. The company has an superb set of fundamentals.