Dealing Room: Axis Bank, Bajaj Auto, REC, Adani Ports, 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.

Axis Bank, Bajaj Auto:

Dealers expect short coverings to drive these stocks up by 4-5%

Axis Bank was at Rs 1009.40, up 1.18 percent, on the BSE. It has touched a high of Rs 1011 and a low of Rs 997.25 in trade so far.

Bajaj Auto was at Rs 1494, down 0.61 percent, on the BSE. It has touched a high of Rs 1524.90 and a low of Rs 1482.80 in trade so far.

Rural Electrification Corporation:

Domestic funds are sellers at higher levels. Higher restructured loans and power sector exposure discouraging.

The stock was at Rs 170.55, down 0.79 percent, on the BSE. It has touched a high of Rs 172.50 and a low of Rs 168.15 in trade so far.

Adani Ports:

Goldman Sachs upgraded Adani Ports to buy from neutral with a target price of Rs 135 per share.

The stock was at Rs 114.15, up 1.87 percent, on the BSE. It has touched a high of Rs 115.40 and a low of Rs 112 in trade so far.

Crompton Greaves:

There is buzz that the company may report net profit of Rs 135 - 140 crore against expectations of Rs 166 crore.

The stock was at Rs 108.50, down 0.05 percent, on the BSE. It has touched a high of Rs 110 and a low of Rs 106 in trade so far.

Mahindra & Mahindra:

Institutional desks indicate major fund buying in the stock.

The stock was at Rs 640.05, down 1.70 percent, on the BSE. It has touched a high of Rs 654.95 and a low of Rs 639.60 in trade so far.

Tata Steel:

Institutional desks indicate buying by HNIs. See another Rs 10 - 12 up move on the stock.

The stock was at Rs 404, down 1.37 percent, on the BSE. It has touched a high of Rs 405.90 and a low of Rs 396 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.