Earlier, i had suggested to buy it for short-term. And now, stock is trading at 6.5 times multiple from its book value. For short-term, my target for Biocon was Rs.412. And even now, i would advice to book profit when this target achieved in stock.
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Before listing of IPO, i was not bullish on listing gains because of little higher valuations. But stock gave almost 50 percent return on its IPO listing and after that it ran for another trading sessions making highs of Rs.700. However, for short-term i am not bullish on stock while i have recommended to buy it for about 1-2 years.
HUDCO in this week has ran as much as 50 percent from 69 to 102. In the end of June, i had recommended to buy it for short-term target of Rs.100 which has now been achieved. Now, i have no buy call on it for short-term and i would advice to avoid it for short-term as there can be a large risk in stock.
In last few weeks, stock has outperformed the Pharma Index and has gave almost 50 percent return in last one and half month. I think the basic reason for this sharp rally in stock is due to interest of pharma investors getting mostly towards it. Earlier, Aurobindo had posts better Q4 FY17 results than most of the pharma companies and thus any buying in pharma index is first coming in aurobindo. For short-term, there is no exact target for profit booking from my side in stock because it is possible that rally would last for a week, month or a quarter. Therefore, i would advice to enjoy the ride in stock and keep a stoploss of 3 percent down from every closing price of stock.
After demerge of business, stock of sintex got settled around Rs.25 after hitting low of Rs.16. And now in last 5 days, stock has gave more than 40 percent return from Rs.26 to 34.50. For short-term, i think we can see some more gains in stock and could reach levels of Rs.40. So, i would recommend to book profit around that levels.
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