SEBI eases some rules for merger of units with parent’s listed co
Asian markets are trading higher tracking firm cues from Wall Street overnight and as investors await release of China Caixin services and composite PMI due later in the day. Nikkei is trading higher by 2.40%; Hang Seng is trading higher by 0.02% while Shanghai is trading higher by 0.25%. Indian indices are expected to open in the green. Sgx Nifty is trading higher by 0.17%.
Brokerage: Axis direct | Rating: Buy | Target : 313.50 | Entry Price : 303 | Stop Loss : 297 | Positional (5-15 Days)
Radico Khaitan is in the Breweries & Distilleries sector. The current market capitalisation stands at Rs 4,101.53 crore.
Brokerage:| Rating: Buy | CMP : 590
The stock price of ION Exchange (India) Ltd. (ION) has run up steeply by ~40% in less than one month since our viewpoint initiation (dated December 7, 2017).
Risk of stretched working capital cycle can adversely impact performance in the short term.
We recommend to book profit, as performance of the company may remain lacklustre considering GST-related issues as well as stretched working capital in the short term.
Brokerage:| Rating: Buy | CMP : 248
Ashoka Buildcon Limited (ABL) has gained close to 70% since our first viewpoint initiation dated May 23, 2014.
Weak order inflow during 9MFY2018 and project-specific issues to result in lower execution for FY2018.
We advise investors to book profit at the current juncture with ~70% absolute return and wait for a better entry point.