FAST MONEY: Gordrej Agrovet, JK Tyre among key intraday tips for Friday's trade
Sensex today: Back home, Supreme Court will resume hearing on Congress’ petition later today at 10:30 am. The apex court has directed that letters sent by BJP to Governor Vajubhai Vala for government formation be placed before it. BS Yeddyurappa took oath as Chief Minister of Karnataka on Thursday.
The benchmark indices are expected to open lower on Friday tracking mixed trend in Asian markets as investors kept a cautious watch on developments in US-China trade negotiations. Back home, Supreme Court will resume hearing on Congress’ petition later today at 10:30 am. The apex court has directed that letters sent by BJP to Governor Vajubhai Vala for government formation be placed before it. BS Yeddyurappa took oath as Chief Minister of Karnataka on Thursday.
Overseas, MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.05 per cent higher. The index was headed for a 1 per cent loss this week. Japan’s Nikkei rose 0.2 per cent, South Korea’s KOSPI was up 0.25 per cent and Australian stocks edged up 0.05 per cent.
Wall Street ended slightly lower on Thursday as investors grappled with US-China trade tensions after US President Donald Trump said that China “has become very spoiled on trade”.
The Dow Jones Industrial Average fell 54.95 points, or 0.22 per cent, to 24,713.98, the S&P 500 lost 2.33 points, or 0.09 per cent, to 2,720.13 and the Nasdaq Composite dropped 15.82 points, or 0.21 per cent, to 7,382.47.
Here are key intraday trading tips:
1) JK Tyre (Buy)
Target: Rs 152
Stoploss: Rs 142
Profit jumped 63% to Rs 145 crore from Rs 89 crore
Income grew 6% at Rs 2,284 crore, from Rs 2152 crore
EBITDA gained 65% from Rs 330 crore to Rs 200 crore
EBITDA margin came in at 14.4% from 9.3%
2) Tech Solutions (Buy)
Target: Rs 226 217
Profit surged 8% at Rs 45.5 crore (QoQ)
Income jumped 11%to Rs 2,284 crore (QoQ)
EBIT grew 11% to Rs 58 crore (QoQ)
3) Godrej Agrovet (Buy)
Target: Rs 648
Stoploss: Rs 624
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4) Man Infra (Buy)
Revenue up 35 percent at Rs 222 crore
Net profit up 21 percent at Rs 23 crore
Ebitda at Rs 87 crore versus Rs 51.5 crore
Margin at 39.2 percent versus 31.4 percent
5) KEI Industries (Buy)
Target: Rs 454
Stoploss: Rs 435
Profit jumped 40 per cent to Rs 49 crore from Rs 35 crore
Income jumped 39% to Rs 1,030 crore from Rs 739 crore
EBITDA grew 82% to Rs 133 crore from Rs 73 crore
Margin came in at 12.9% from 9.9%
KEI industries approves phase two expansion of MV cable plant for Rs 30-35 crore.
(Stocks mentioned here are for informational purpose. Consult your financial advisor before investing.)