Dealing Room Buzz: Cairn India, IVRCL, Lupin, SBI

MUMBAI: ET Now spoke to dealers on institutional and high networth investors’ activity in the dealing room. Following stocks were on their radar on unconfirmed reports.

Cairn India:

Institutional desks are indicating a selling activity by foreign funds and dealers expect the stock to correct upto Rs 340 in the near term.

At 11:10, shares of the company were trading 1.6% lower at Rs 348.95. The stock has hit a high of Rs 357.95 and a low of Rs 348.

IVRCL

There’s buzz in the market that PE players are looking to buy management stake in the company. As of now the promoters hold 11.2 per cent stake in it.

Shares of the company were trading 4.9% higher at Rs 61.20. The stock hit a high of Rs 61.85 and a low of Rs 58.30.

Lupin Ltd

CLSA has upgraded Lupin to ‘Buy’ with a target at Rs 616 per share. It expects strong earnings growth of 24 pe rcent CAGR over FY12-14

Shares of the company were trading marginally higher at Rs 511.25. The stock has hit a high of Rs 524 and a low of Rs 510.75.

State Bank of India

According to dealers, SBI has been removed from BofA Asia Pacific Focus List. The deletion is post downgrade to ‘Neutral’ on rising valuations concerns, earnings risk from margin compression.

Shares of SBI were trading 1.3% lower at Rs 2137. The stock has hit a low of Rs 2128.55 and a low of Rs 2164.70.

Meanwhile HNIs seem to have been accumulating Deep Industries. The company recently won coal-bed methane blocks in Indonesia

Dealers were also bullish on Everest Kanto Cylinders and Spice Jet.

Disclaimer:

The above report is based on market buzz and information given by dealers. Please consult your financial advisor before taking any position in the stocks mentioned