FAST MONEY: Aurobindo Pharma, Tata Motors among top intraday trading ideas
Aurobindo Pharma has plans to acquire Canadian pharma company Apotex Internationals commercial operations.
The Sensex and Nifty are expected to opwn lower on Monday tracking negative trend in Asian markets, which brushed off the firmer Wall Street lead as investor caution dominated ahead of the release of key Chinese economic data, which is expected to show signs of a slowdown.
At 8:00 am, SGX Nifty was trading at 11,024.50, down 4.50 points or 0.04 per cent.
Back home, quarterly earnings from blue chips such as Hindustan Unilever and Kotak Mahindra Bank, inflation data, trend in crude oil prices and global cues will be key determinants for the stock market movement this week.
Here are top intraday trading tips:
1) Aurobindo Pharma (Buy)
Target: Rs 625
Stoploss: Rs 597
The company to acquire Canadian pharma company Apotex International's commercial operations.
The acquisition will take place in five European countries for €74 million in an all-cash deal.
2) Cochin Shipyard (Buy)
Target: Rs 447
Stoploss: Rs 434
The company received orders worth Rs 102 crore
Fresh contracts are for Ship building
3) Just Dial (Buy)
Target: Rs 580
Stoploss: Rs 565
The company has a board meet on July 20
Board will discuss on a buyback proposal
4) Minda Industries (Buy)
Target: Rs 435
Stoploss: Rs 415
The company entered into a deal with a Japanese firm
The company will start an alloy wheel unit in Haryana along with Kosei Group
The company acquired Germany's tech firm iSYS
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5) Tata Motors (Sell)
Target: Rs 252
Stoploss: Rs 267
Moody's downgraded Tata Motors from Ba1 rating to Ba2
The downgrade came on the back of poor performance of JLR
(Stocks mentioned here are for informational purpose. Consult your financial advisor before investing.)
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