Dealing Room: Punj Lloyd, Mphasis, Adani Enterprises , M&M, Reliance Communications

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:

Punj Lloyd:
The company is looking at restarting work in Libya. The renewed interest in Libya is likely to aid revenues.
The stock was at Rs 58.30, down 0.68 per cent on the BSE. It touched a high of Rs 58.85 and a low of Rs 57.80 in trade so far.

Mphasis:
According to online media reports, the company is mulling buyback of shares using cash reserves.
The stock was at Rs 399.50, up 4.08 per cent on the BSE. It touched a high of Rs 404.30 and a low of Rs 385.50 in trade so far.

Adani Enterprises:
Desks indicate fund accumulation in counter and dealers see a technical breakout. The stock was at Rs 232.20, up 1.33 per cent on the BSE. It touched a high of Rs 233.45 and a low of Rs 227 in trade so far.

M&M:
Jefferies remains cautious on M&M despite its great execution in the UV business. It sees increasing losses, cash calls from its CV and two-wheeler business as a concern. It maintains ‘underperform’ rating with a target of Rs 601.

Ssangyong and Navistar truck JV may lead to more cash calls. The stock was at Rs 730, down 0.52 per cent on the BSE. It touched a high of Rs 733 and a low of Rs 730 in trade so far.

Reliance Communications:
Dealers are buying for intraday trade with a target of Rs 73-74. The stock was at Rs 70.75, down 0.56 per cent on the BSE. It touched a high of Rs 72 and a low of Rs 70.40 in trade so far.

IFCI:
IFCI may find value unlocking once MCX start equities trading. It holds over 13 per cent in MCX-SX. The stock was at Rs 42.40, up 0.36 per cent on the BSE. It touched a high of Rs 42.75 and a low of Rs 42 in trade so far.