“Neyveli Lignite stands to be a strong divestment candidate with 94% government holding, we continue to be positive on the stock. However, how and when the divestment scenario will be chalked out by government will remain crucial element to watch out. Nevertheless, in line with market and most of the peers, the stock should get re rated further. Currently, NLC is trading at 3.1x FY09, 3x FY10E and 2.7x FY11E BV and India’s largest power utility, NTPC is currently trading at 3.3x FY09, 3.1x FY10E and 2.8x FY11E BV at a price of Rs 231/share. Hence, we revise our target multiple for NLC from 2.5x to 3x on FY11BV and upgrade price target by 20% from Rs 162 to Rs 195. However, we downgrade our rating from Outperformer to Market performer, due to recent run up in the stock price,” says Karvy Stock Broking report.

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BHUSANSTL

MOSERBAER

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BUY IRB Infrastructure Developers Stop Loss 238 Target 269

BUY GMR Infrastructure Stop Loss 60 Target 68

BUY Mahindra Satyam Stop Loss 98 Target 124

BUY IVRCL Infrastructure and Projects Stop Loss 346 Target 386

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Sell MTNL around Rs 70.60-Rs 72.60, stop loss of Rs 73.45, cover short at Rs 67.80-Rs 62.90

Buy M&M around Rs 911.70-Rs 881.30, stop loss of Rs 865, book profit at Rs 958-Rs 1035

Buy Sterlite Industries with stop loss of Rs 710 for targets of Rs 810-Rs 855

Buy SAIL with stop loss of Rs 158 for targets of Rs 185-Rs 195

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SHORT SELL Sesa Goa Stop Loss 324 Target 286

SHORT SELL Jaiprakash Associates Stop Loss 238 Target 204

SHORT SELL DLF Stop Loss 441 Target 390

SHORT SELL Punj Lloyd Stop Loss 228 Target 186

Sell JSW Steel with stop loss of Rs 855 for a target of Rs 762

Sell Aban Offshore with stop loss of Rs 1457 for a target of Rs 1300-1275

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BUY Maruti Suzuki India Stop Loss 1490 Target 1598

BUY Ranbaxy Laboratories Stop Loss 364 Target 403

BUY Bajaj Hindusthan Stop Loss 222 Target 256

BUY Reliance Communications Stop Loss 220 Target 256

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SAIL

GVKPIL

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FEDRALBNK

SBIN

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Sell HCL Tech, last close at Rs 298.85, sell around Rs 302.60-Rs 308.20, stop loss of Rs 312, cover short at Rs 293.30-Rs 278.30

Buy HDIL, last close Rs 363.10, buy around Rs 356.20-Rs 345.50, stop loss Rs 338, book profit at Rs 373-Rs 402

Buy JSW Steel with stop loss of Rs 870 for a target of Rs 990

Buy Sterlite Industries with stop loss of Rs 780 for a target of Rs 900

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BUY Reliance Industries Stop Loss 2068 Target 2251

BUY Bajaj Hindusthan Stop Loss 182 Target 205

BUY NTPC Stop Loss 206 Target 219

BUY Sesa Goa Stop Loss 275 Target 315

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