Sell Reliance Capital; buy GVK Power, Bata

Reliance Capital (Sell below Rs 355, target of Rs 340)

After closing of market hours news flashed that CBI will look into Anil Ambani’s role in the 2G scam. Perception ofrepercussion of the inquiry will see selling pressure in all ADAG group stocks. Reliance Capital being the flaship can see the brunt of the bear attack.

[caption id=“attachment_96245” align=“alignleft” width=“380” caption=“Bata can rebound back strongly in case of a market bounce back. Punit Paranjpe/Reuters”]  [/caption]

GVK Power (Buy above Rs 16, target of Rs 17.50)

GVK Power has announced that it has bagged a 332 kms order for Shivpuri Dewas section of the Mumbai Agra (NH3) highway. The company has been languishing near its year’s low. This announcement can see some movement in the stock.

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Bata (Buy above Rs 640, target of Rs 655)

Bata has rebounded strongly from its previous close. The stock has been trading near its high and rebounds strongly in line with the market. Bata can rebound back strongly in case of a market bounce back.

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