Dealing Room: Crompton Greaves, BF Utilities, Divis Labs, M&M

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

Crompton Greaves:

BofA-ML maintained ‘buy’ on Crompton Greaves with a target price of Rs 151. The brokerage is reviewing viability of units abroad.

The stock was at Rs 124.95, up 3.09 percent on the BSE. It touched a high of Rs 125.60 and a low of Rs 121.30 in trade so far.

BF Utilities:

There is buzz of IPO for Nandi Infra and another PE investment can be expected soon.

The stock was at Rs 434.25, up 2.81 percent on the BSE. It touched a high of Rs 438.80 and a low of Rs 421.25 in trade so far.

Divis Laboratories:

Dealers are recommending buying the stock on basis of technical trends. They see the stock hitting Rs 1050 - 1075 levels.

The stock was at Rs 1033, up 0.60 percent on the BSE. It touched a high of Rs 1038 and a low of Rs 1022.20 in trade so far.

Mahindra & Mahindra:

UBS has downgraded M&M to neutral with a target price of Rs 770 on concerns of weak auto sales, negative dealer feedback. Below average monsoon is likely to impact tractor sales.

The stock was at Rs 705.95, down 0.13 percent on the BSE. It touched a high of Rs 715 and a low of Rs 703.50 in trade so far.

HDIL:

Dealers expect upward momentum to continue in HDIL. They are looking at a target of Rs 95 per share. Floor space index for slum rehabilitation projects have been hiked to 4 from 2.5 for slums having over 650 tenants.

The stock was at Rs 88.20, up 1.44 percent on the BSE. It touched a high of Rs 88.60 and a low of Rs 86.60 in trade so far.

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.