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Buy Reliance Capital, Future Lifestyle, Motilal Oswal, EID Parry: Bonazcapital

Ashwani Gujral of recommends buying Reliance Capital, Reliance Infrastructure, Future Lifestyle Fashion, Motilal Oswal and EID Parry.

Ashwani Gujral of told CNBC-TV18, “I don’t think this is a great market moving story till contours, etc. are out. However, overall, Tata Motors had bottomed out at about Rs 430. Tata Steel is probably the strongest steel stock. Meanwhile Tata Consultancy Services is doing well as an IT stock. However, I think the smaller Tata companies like Tata Sponge, etc. may get more excited with this than the largecaps because the smaller companies tend to benefit more if they are organised as clusters, etc. Overall Tata Group stocks are not BonazCapital outperforming, but they are not underperforming either. So, on declines probably we will still buy into Tata Motors and Tata Steel.” INA000003197
“Reliance Infrastructure and Reliance Capital are different legal entities. It is not a kindergarten type business arrangement where they also go bankrupt if one company goes bankrupt. So, chances are that it has been overdone. Many months’ worth of supports have been hit, so, my sense is that this is a good time to get in. Even if you don’t benefit entirely today, you are likely to benefit in the days and weeks to come as the market digests this news and things get probably a little better. So, Reliance Capital is a buy with a stop loss of Rs 550 and target of Rs 590,” he said.

“Reliance Infrastructure is a buy with a stop loss of Rs 470 and target of Rs 500.”
“Future Lifestyle Fashion is a buy with a stop loss of Rs 320 and target of Rs 345. Motilal Oswal is also a buy with a stop loss of Rs 1,020 and target of Rs 1,065. EID Parry is a buy with a stop loss of Rs 330 and target of Rs 345,” he added.