On NSE, during the morning trade, the shares of Ifb Industries Plunged up to 5 per cent. Along with this the shares of Dilip Buildcon, Pilani Invest were also seen on defying positive market mood. Stocks such as Tech Mahindra, Jain Irrigation, Gayatri Project, Jain Irrigation and IDFC cracked over 3 per cent. Equity benchmarks were trading up on fresh buying by investors as the July derivatives contracts started on a strong note amid recovery in the rupee.
JP Associates is expected to have fewer assets now to generate revenues. On the other hand, the interest costs will also reduce due to debt repayment. One of the few other reasons to buy this stock is that the company for the first time reported a net profit for the first time in 12 quarters in the period ending June 30, 2017. JP Associates is expected to largely depend on its EPC business to power revenues. It has a substantial order book and is looking to touch a turnover of Rs 6,000 crores from this stream in 2019-20. Thus, the stock is said to move ahead in the coming days. Currently, this is a cheap penny stock at Rs 22.
Buy Hcl Technologies around Rs 925-930. Keep the target at Rs 1020 and stop loss at Rs 895. This is a good buy as HCL Technologies also has a good solid presence in the software services business, where it has a strong order position. Thus the expansion, strong order book and a focused management team, is making the stock of HCL Technologies a good bet at the current levels.
Recently, it was observed that the share price of KCP Sugars has fallen from levels of Rs 42 to Rs 32. As per the reports, the stock is also trading near book value levels. It is also believed that the sugar prices would continue to remain robust in the coming years. As KCP Sugars is a very old sugar manufacturer and has the potential to deliver so it is recommended to all investors with a long term perspective to buy this stock.
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