Buy Delta Corp with a target of Rs 120-150: Mehraboon Irani

In a chat with ET Now, Mehraboon Irani, Principal & Head- Pvt Client, Nirmal Bang, shares his top bets for tomorrow's muhurat trading session:

ET Now: Leave us with some Diwali ideas; what would you advise viewers to buy into tomorrow’s session?

Mehraboon Irani: Delta Corp is my favourite stock. If you are looking at a Rs 10 temporary downside and confirmed conservative 50% upside and an optimistic 100% upside over the next 12 months, this is the stock to buy on the Muhurat session. The gaming capacity of this company is going to up three times. It is a fixed cost model, bottom line of Rs 62 crore which we are expecting this year should turn into Rs 180-190 crore next year. If you look at gaming revenues for the last quarter, they were at the peak, gaming margins are at the peak and its capacity is going up three times. There is nothing for Delta stock to do but go up.

I would say a Rs 60-Rs 62 on the downside and a Rs 120-Rs 150 on the upside looks distinctively possible. So with the risk reward completely in favour of reward, this would be the stock I am going to go ahead and buy for my investors on Muhurat Day.