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Home > Uncategorized > Saumil Trivedi’s Top 5 Stock Bets for Riding Modi’s Growth Agenda

Saumil Trivedi’s Top 5 Stock Bets for Riding Modi’s Growth Agenda

afternoonvoice@gmail.com' by Afternoon Voice
May 19, 2014
in Uncategorized
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The big win by BJP has triggered optimism on the Street and many analysts have raised their targets for Sensex and Nifty. A bullish Saumil Trivedi says Narendra Modi’s emphatic win could be watershed event for the Indian economy. “There was never a convincing event in my life so far which can convince me that the economic giant that India could be has now unfolded…This is the most convincing event that has taken place till now” says Mr. Trivedi.
Mr. Trivedi says Nifty could consolidate at 7,600 in the near term its downside is capped at 6,870.

He has recommended five stocks that investors can buy and hold: Container Corporation of India, Kotak Mahindra Bank, L&T, Power Trading Corporation and Tata Steel.

Mr. Trivedi has given a target of Rs. 1,600 on Container Corp, saying that the stock has no potential competitors in the private space and it is going to benefit from an economic recovery. “The stock is shaping up very well technically” added Mr. Trivedi.

Container Corp was trading at Rs. 1,129.25, up 4.81 per cent.

Kotak Mahindra Bank is going to be benefited from proposed equity dilution by the company, says Mr. Trivedi. “Post-dilution it will get the best valuations that any other bank has got,” says Saumil. He has given a target of Rs. 1400 on the stock.

Shares in Kotak Mahindra Bank traded 1.83 per cent higher at Rs. 922 as at 1 pm.

As of quarter ended March 2014 promoters held 43.58 per cent stake in the private bank. RBI has asked the bank to reduce its promoter holding to 20 per cent by March 31, 2018.

On L&T, Mr. Trivedi has given a target of Rs. 1,997, saying that it is his “obvious choice in the infra space”.
Currently the stock is trading at Rs. 1509, up 5.7 per cent from Friday’s close.

afternoonvoice@gmail.com'

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