FAST MONEY: 12 buy and sell trading ideas for Thursday's trade

The domestic market looks set to open higher thanks to a positive trend seen in Asian markets after the  after Wall Street brushed aside strong U.S. inflation data and surged, a counterintuitive move that also saw the dollar pinned at two-week lows even as Treasury yields jumped in anticipation of a quicker pace of U.S. interest rate hikes.

At 8:35 am, the SGX Nifty was trading at 10,537, up 74.50 points or 0.71 per cent. 

Below are the key trading ideas for today's trade:

1) Sun Pharma (Sell)

Target: Rs 560
Stoploss: Rs 580

• Post Q3, CLSA has a sell rating on the stock with a target of Rs 430
• Revenues slipped 16 per cent to 6,653 crore from Rs 7,925 crore
• PAT dipped 75 per cent to Rs 365 crore from Rs 1,472 crore

2) PNB (Sell)

Target: 140
Stoploss: Rs 148

The stock falls most since August 2015
Sebi may look into disclosure norms

3) Allahabad Bank (Sell)

Target: Rs 54
Stoploss: Rs 57.2

• Allahabad Bank also involved in PNB fraud
• NPAs surged in Q3 results

4) Axis Bank (Sell)

Target: Rs 530
Stoploss: Rs 550

• Axis Bank involved in PNB fraud too
• Bank discounted Rs 4000 crore: Sources

5) Torrent Power (Buy)

Target: Rs 277
Stoploss: Rs 268

• Entered into a deal with Siemens Gamesa 
• Deal is for 120 MW wind project

6) Jet Airways (Sell)

Target: Rs 785
Stoploss: Rs 811

Q3 (YoY)

• Revenue up 10 per cent at Rs 6086 crore
• Net profit down 46 per cent at Rs 165 crore
• EBITDAR up 3 per cent at Rs 865 crore
• Margin at 14.2 per cent versus 15.2 per cent

7) Repco Home (Sell)

Target: Rs 585
Stoploss: Rs 609

• Net interest income up 20 per cent at Rs 115.5 crore
• Net profit up 5 per cent at Rs 48.5 crore
• GNPA at 3.70 per cent versus 3.40 percent (QoQ)
• Net NPA at 2.05 per cent versus 1.90 per cent (QoQ)

8) Cox and Kings (Buy)

Target: Rs 258
Stoploss: Rs 250

Q3 (YoY)

• Revenue down 2 per cent at Rs 1356 crore
• Net profit up at Rs 96 crore versus Rs 15 crore
• EBITDA up 68 per cent at Rs 168.5 crore
• Margin at 12.4 per cent versus 7.3 per cent

9) Welspun Ent (Buy)

Target: Rs 173
Stoploss: Rs 164

Q3 (YoY)

• Revenue up at Rs 299 crore versus Rs 54 crore
• Net profit up at Rs 16 crore versus Rs 3.5 crore
• EBITDA at Rs 11.5 crore from a loss of Rs 10 crore
• Margin at 3.8 per cent versus -18.5 per cent

10) HDIL (Sell)

Target: Rs 52.5
Stoploss: Rs 55.5

Q3 (YoY)

• Revenue down 12 per cent at Rs 99 crore
• Net profit down 52.5 per cent at Rs 19 crore
• EBITDA down 21 per cent at Rs 122 crore
• Finance cost down 9 per cent at Rs 95 crore

11) Strides Shasun (Buy)

Target: Rs 750
Stoploss: Rs 717

• Antique started coverage of the stock with a buy rating with target of Rs 970
• Business will improve via sale of API: Antique

12) Indocount (Buy)

Target: Rs 110
Stoploss: Rs 104

• To set up textile unit in Germany

(Disclaimer: Stocks mentioned here are for informational purpose; consult your financial advisor before investing.)