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Stock Idea From: – indianmoneyplus.com

Duvvuri Subbarao on Friday took charge as the new RBI Governor and said his immediate priority would be to contain inflation and pursue financial sector reforms.

The markets were pasted out shape as weak global cues dented sentiment. The Nifty closed at 4,352 down 95 points, while the Sensex shut shop at 14,483 down 415 points.

Emkay Global Financial Services has initiated ‘buy’ on Piramal Life Sciences for a target price of Rs 270. The demerged R&D entity of Piramal Healthcare began operations a decade ago. Piramal Life Sciences today boasts of a world class drug discovery facility, a strong pipeline of 15 molecules (half of them in Phase I and Phase II) and in-licensing agreements with global innovator companies like Eli Lilly, Merck and Pierre Fabre Laboratories.

STCI Capital Markets has initiated ‘buy’ on Sterlite Industries for a target price of Rs 765. The company has a substantial market share in each of the base metals: aluminium, copper, zinc and lead. Strong cash generations over the last two years and successful completion of $2 billion ADS in 2007 has provided the company with funds to spread its wings across regions (acquisition of ASARCO) and foray into new business segment (commercial power generation).

Technical Analyst, E Mathew is of the view that one should avoid Tata Steel, SAIL and Gujarat NRE Coke and prefers FMCG and selective banking counters.

Jayprakash Sinha of Mangal Keshav is of the view that in the short term one can book profit in banking stocks.

Neeraj Divan, Director of Quantum Securities is of the view that one can avoid metal space.

Technical Analyst, E Mathew is of the view that HPCL and BPCL has possibility of going up and one should book profit in them at higher level.

Technical Analyst, E Mathew is of the view that Reliance Industries has support at Rs 2050.

Jayprakash Sinha of Mangal Keshav is of the view that one can expect some upside in IT stocks from the current level.

Neeraj Divan, Director of Quantum Securities is of the view that there is some value left in infrastructure stocks as far as rally is concerned.