BofA Merrill Lynch has retained its buy rating on Cairn India after the company announced its managing director and chief executive officer Rahul Dhir has quit.
It is more of a stock specific approach in this sector. Within two-wheeler pack, Bajaj Auto is more preferred over Hero Honda.
A level of 1600 or 1650 might be a very good level to bottom fish in SBI. I am not saying that it will go there but if it goes there, then certainly it is a very nice level to buy.
Valuation differential actually takes away a lot of margin of safety investing in these NBFCs. So I would be a bit wary of investing in these kind of NBFCs.
Sun Pharma might continue to be an outperformer in the near to medium term at least.
We would not really see any rally sustaining. So it could be, more or less, a range bound stock.
I do not really see any major fundamental concerns at the moment for Cairn and this is a passing phase for them. So I retain a buy rating on Cairn India.
Valuation of Tata Motors is quite attractive and there is lot of margin of safety on the downside.
Crude palm oil prices declined by Rs 2.50 to Rs 547.70 per 10 kg in futures trading today after speculators reduced positions on the back of sluggish demand in the spot market against adequate stocks position.
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