Today's Call

#Accumulate the shares of Zee Entertainment Enterprises Ltd near the CMP of Rs.155 for targets of Rs.170 and Rs.197.The short term correction seems to be over in the scrip. 

#The shares of Sarthak Industries Ltd (Rs.25.50) have not moved up since a long time. This quarter results of the company is expected to be better than Q4FY24.

#Accumulate the shares of Eros International Media Ltd (Rs.20.68) near the CMP for targets of Rs.27/31. The season of the media sector has already kicked off.

#The stock of IDFC First Bank Ltd (Rs.83.40) made an intraday high of Rs.83.94. The stock was recommended around Rs.78 on Twitter (X) last week.

#Buy the shares of Parsvanath Developers Ltd (Rs.14) for short term targets of Rs.19/21. If you remember, I have been recommending the scrip since it was around Rs.7/8.

In the Q3FY24 the company came out with good results. The topline increased by 223.41% & the loss decreased by 89.75% YoY. As compared to the previous quarter the revenue grew by 83.1% and the loss decreased by 77.98%.

Parsvanath Developers Ltd has informed the BSE that the meeting of the Board of Directors of the Company is scheduled on 20/06/2024 ,inter alia, to consider and approve The Audited Financial Results of the Company (both Standalone and Consolidated) for the Quarter and Financial Year ended March 31, 2024, and Recommend dividend, if any, for the Financial Year 2023-24.

#The shares of Indowind Energy Ltd (Rs.26.10) hit the Upper Circuit. I have been advocating a buy on the scrip since some time.

#In a significant development Vodafone Group plans to sell an almost 18% stake in India's Indus Towers for up to $ 2 billion (~Rs.16,500 Cr). This is a significant increase from the approximately 10% stake they initially intended to sell. 

The telecom company, holds 21.50% stake in Indus Towers. It is planning to use the proceeds from the sale to repay debt, according to a report by Reuters.

Moreover a tariff hike of ~20% by telecom Companies can come at any time.

Thus the revised target of Vodafone Idea Ltd (Rs.16.54) is Rs.32.

#My recently recommended Dhanlaxmi Bank Ltd (Rs.44.88) hit the Upper Circuit. It is one of the finest banks from South India.

#Accumulate the shares of J P Associates Ltd (Rs.10.80), for targets of Rs.21/25, as now NCLT will speed up the process of the sale of cement division.