Is RBL Bank A Good Pick At Current Levels?#AskBQ
#AskBQ is BloombergQuint’s daily offering where market experts help investors make the right investment choice in the equity market.
In today’s episode, NS Fidal, a technical analyst, and Ashish Kukreja of Craftwealth Management, share their views on HDFC Standard Life Insurance, Punjab National Bank, Avenue Supermarts, RBL Bank, and Dr Reddy’s Laboratories among others.
Watch the full conversation here:
Jatin: I need 2-3 year view on HDFC Life and 3M India and can it be bought at current levels?
Ashish: Yes for HDFC Life as all parameters used to value a life insurance company is good. 3M India also looks to do well in next two to three years.
Sivakumar: Will we see further downside in RBL Bank?
Fidai: One should buy at Rs 580 levels and Rs 540 if it falls further. Overall trend is very bullish.
Ashish: I would go for a more secured bet which is HDFC Bank for an investment period of 2 to 3 years.
Karthik: I need one stock recommendation each in breweries, electrodes, specialty chemicals, housing finance and conglomerates.
Ashish: I would recommend LIC Housing Finance, McDowells in Breweries and Godrej Industries for conglomerate.
Mayank Saraf: Can I add International Paper to my portfolio?
Fidal: It is into life-time high zones. I would recommend to buy the stock as on it keep making new highs and keep nearest low as stop-loss. Still 20 to 30 percent upside is there on the stock.
Anil: Can I make a fresh entry in Punjab National Bank?
Ashish: Definitely public sector Banks will give you one uptick. Punjab National Bank and State Bank of India are good calls at this point of time but nothing below two years.
Raj Lalwani: Can I make a fresh entry in Avenue Supermarts?
Ashish: It may test your patience but you can see targets of Rs 1,900 to Rs 2,000 coming in as there are very few players in this space.
Girish Patil: When should I enter Dr Reddy’s and what are the levels to be watched out for?
Fidal: It is facing strong resistance in the level of Rs 2,700 though being in a bullish zone. Rs2,420 to 2,450 should be a very good price to add.
Harshavardan: I need a view on Godrej Consumer and Symphony?
Ashish: I would rather recommend ITC where there is more valuation comfort. You can add Symphony if its corrects more and if you have a one-year time perspective.
Analyst disclosures: Both analysts don’t hold any stock that were discussed today.
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