Stocks in Focus And Intraday Picks For 22.09.2022 By Reliance Securities
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STOCK IN FOCUS
* Prince Pipes (CMP Rs.594) - Prince expects to witness a structural improvement in demand in the coming years, led by an expansion in the urban, semi-urban and rural areas, and is investing in trending activities
* The company is likely to deliver a double-digit revenue growth in FY23E led by volume, while realisation is likely to decline.
* The government’s thrust has provided a strong impetus on capex with higher allocation for Har Ghar Nal Se Jal scheme, which provides significant opportunities in the coming years
* Jal Jeevan Mission, enhancement of agricultural credit and increased allocation for rural infra development fund, augurs well for the domestic PVC pipe manufacturers
* The company continued to deliver a strong volume, led by healthy growth in agri and plumbing segments, improved operating efficiency and cost optimization measures
* It has made a strategic decision to sustain its business in the long run, bolstered by a tie-up with Lubrizol and Tooling Holland.
* We expect Prince to expand its leadership with the manufacturing expertise, leveraged distribution and competitive agility in the pipes sector. In view of the healthy volume and series of strategies for the next level of growth, we have our BUY rating on the stock, with a Target Price of Rs700.
Intraday Picks
EICHERMOT (PREVIOUS CLOSE: 3682) SELL
For today’s trade, short position can be initiated in the range of Rs 3700-3730 for the target of Rs.3600 with a strict stop loss of Rs 3800
JSWSTEEL (PREVIOUS CLOSE: 685) SELL
For today’s trade, short position can be initiated in the range of Rs 690-696 for the target of Rs.670 with a strict stop loss of Rs 702.
NTPC (PREVIOUS CLOSE: 169) BUY
For today’s trade, long position can be initiated in the range of Rs 165- 167 for the target of Rs.172 with a strict stop loss of Rs 163.
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