Buy Tata Motors, sell Glenmark

Tata Motors (Buy above Rs 156 , target of Rs 165)

Tata Motors has surprised analysts by posting strong numbers for September. Though Nano sales are down 47 percent, overall growth of 22 percent is a positive surprise that can lead to some short-covering.

[caption id=“attachment_97638” align=“alignleft” width=“380” caption=“Though Nano sales are down 47 percent, overall growth of 22 percent is a positive surprise that can lead to some short-covering. Krishnendu Halder/Reuters”]  [/caption]

Glenmark (Sell below Rs 322, target of Rs 315)

A New Jersey Court has rejected Glenmark’s claim of double patenting of Tarka for which the company is likely to lose up to $16 million. The stock can see some selling based on the news.

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Tata Power (Buy above Rs 100, target of Rs 105)

Tata Power has said that in order to raise funds, the company will be selling some non-core assets. The company has been in the Rs 100 range and can witness a small move higher.

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