How market wizard Anil Singhvi views Maruti Suzuki, SBI Card, Patanjali Foods, 10 other stocks today
As equity benchmarks start a new trading week on a strong note aided by strong buying interest in financial and energy shares, though selling pressure in IT counters keeps the upside in check, Zee Business Managing Editor Anil Singhvi shares his thoughts on a bunch of stocks and companies making headlines. Here's what the market guru recommends on 13 stocks, including Maruti Suzuki India, SBI Card, ICICI Bank, RBL Bank, AU Small Finance Bank and Shakti Pumps:
As equity benchmarks Nifty50 and Sensex make a positive start to the week on Dalal Street aided by gains in financial and energy shares, though losses in IT stocks limit the upside, Zee Business Managing Editor Anil Singhvi shares his thoughts on a bunch of stocks and companies in the news.
Here's what the market wizard suggests traders do on six stocks, including Maruti Suzuki India (MARUTI), SBI Card (SBICARD), ICICI Bank (ICICIBANK), RBL Bank (RBLBANK), AU Small Finance Bank (AUBANK), Jana Small Finance Bank (JSFB), Patanjali Foods (PATANJALI) and Supreme Industries (SUPREMEIND):
Maruti Suzuki futures have support at Rs 12,750 and Rs 12,690 levels
The market wizard expects Maruti Suzuki futures to find support at Rs 12,750 and Rs 12,690, and higher levels at Rs 12,930 and Rs 13,020.
Pointing out that the auto giant's Q4 topline was strong, though its profit and EBITDA fell short of estimates, he expects the stock to take a minor hit.
Support for HCL Tech futures lies at Rs 1,443
For HCLTech futures, The market guru expects support to come in at Rs 1,443 and a higher level at Rs 1,510.
He points out that while the IT firm's quarterly numbers missed estimates on all fronts, the stock may find buying support at lower levels after a small downside.
ICICI Bank stages strong operational performance in Q4
The market wizard highlights that ICICI Bank's Q4 results were strong on all parameters except there was no improvement in its NIM.
He suggests buying ICICI Bank futures for targets of Rs 1,123 and Rs 1,138 with a stop loss at Rs 1,099.
Yes Bank Q4 operational performance weak
The market guru suggests booking profit in the Yes Bank stock following a gap-up start. The recovery remains slow at the lender, he points out.
Nothing great, nothing bad in IDFC First Bank results
The market wizard points out that IDFC First Bank's quarterly numbers were in line with expectations, with "nothing great" and "nothing bad".
He expects the lender's futures to find support at Rs 81 and Rs 83, and test the Rs 88 mark on the upside.
RBL Bank Q4 numbers strong on all fronts
The market guru suggests buying RBL Bank futures for targets of Rs 271, Rs 273 and Rs 278 with a stop loss at Rs 262, with some profit booking expected at higher levels.
Buy SBI Card futures: Anil Singhvi
The market wizard suggests buying SBI Card futures with a stop loss at Rs 744 for targets of Rs 770, Rs 785 and Rs 800, citing the credit card issuer's strong quarterly performance with a stable asset quality and improvement in the revolver credit after eight back-to-back quarters.
He also points out that SBI Card has issued three new travel and leisure credit cards, and that he expects the company to stage an even better performance for the next quarter.
From an investment perspective, Patanjali Foods target at Rs 1,850: Anil Singhvi
The market wizard suggests buying Patanjali Foods shares in the cash segment for targets of Rs 1,660 and Rs 1,700 with a stop loss at Rs 1,560.
Buy Shriram Finance futures: Anil Singhvi
The market expert suggests buying Shriram Finance futures for targets of Rs 2,580 and Rs 2,610 with a stop loss at Rs 2,465, after the NBFC's strong results that have prompted JPMorgan and Citi to raise their targets for the stock.
Supreme Industries shares may run due to strong internals: Anil Singhvi
The market guru suggests buying Supreme Industries shares for targets of Rs 4,440, Rs 4,500 and Rs 4,600 with a stop loss at Rs 4,300.
The plastic processing company reported its results during market hours on Friday.
Shakti Pumps
The market wizard suggests buying Shakti Pumps shares for targets of Rs 1,845, Rs 1,890 and Rs 1,940 with a stop loss at Rs 1,765 after the company's strong quarterly performance.
Buy AU SFB, Jana SFB shares: Anil Singhvi
The market guru believes that the RBI's guidelines on converting small finance banks into full-service banks is a big positive for AU Small Finance Bank and Jana Small Finance Bank.
He suggests buying AU Small Finance Bank futures for targets of Rs 616, Rs 624 and Rs 638 with a stop loss at Rs 592, and buying Jana Small Finance Bank shares for targets of Rs 520 and Rs 529 with a stop loss at Rs 500.