Dealing room buzz: RIL, M&M, Dr Reddy’s, Jindal Steel

MUMBAI: ET Now spoke to dealers on institutional and high net worth investors’ activity in the dealing room. The following stocks are on their radar on market buzz.

Dr Reddy's Laboratories: Dealers expect some upside in the stock after the IMS data indicated that the company's share in Dacogen has shot up 15 per cent over last month. Dacogen is $260 million product.

The stock was at Rs 2,420.85, up 1.56 per cent, on the BSE. It touched a high of Rs 2,429.90 and a low of Rs 2,375 in trade today.

Reliance Communications: Dealers indicate HNI buying in the stock.

The stock was at Rs 149.70, up 1.98 per cent, on the BSE. It touched a high of Rs 150.45 and a low of Rs 145.60 in trade today.

Jindal Steel & Power: Dealers suggest shorting the stock on weak technical trends.

The stock was at Rs 232.10, down 1.42 per cent, on the BSE. It touched a high of Rs 235 and a low of Rs 229 in trade today.

Reliance Industries: Dealers suggest buying the stock on strong technical trends.

The stock was at Rs 825.95, up 0.44 per cent, on the BSE. It touched a high of Rs 828.95 and a low of Rs 818.50 in trade today.

M&M: Dealers expect tractor sales to beat estimates.

The stock was at Rs 838.80, up 1.33 per cent, on the BSE. It touched a high of Rs 845.50 and a low of Rs 822.25 in trade today.

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.