Monday, January 3, 2011

Myiris.com: How to trade in A-DAG stocks now?

Myiris.com: How to trade in A-DAG stocks now?

ADAG counter was in action on the back of new branding exercise. As a result of the new branding exercise, the group will lose the small ADAG (Anil Dhirubhai Ambani Group) tagline in several of its current logos. The change of brand name is mainly for strategic reasons and possibly to suggest togetherness between the two brothers, Mukesh and Anil Ambani. Reliance is a more familiar brand name.

In an exclusive interview with Myiris.com, Prashanth Tapse, Sr. Research Analyst, Mehta Equities gave views on the stocks which are as follows:

Reliance Communications:

Shares of the company gained Rs 6.9, or 4.99%, to settle at Rs 145.10. It touched a high of Rs 145.85 and a low of Rs 139.80. The total volume of shares traded was 3,184,584 at the BSE (Friday).

Prashanth Tapse: Technically RCOM can be bought with stop loss of Rs 135, for a target of Rs 160. It was also supported with the news saying that RCOM can restart providing video calls in the New Year as part of its 3G services. The stock was the top gainer from the Sensex pack. Idea Cellular rose 1.61%. Bharti Airtel fell 0.27%.

Reliance Infrastructure:

Shares of the company gained Rs 32.35, or 4%, to settle at Rs 842. It touched a high of Rs 846.80 and a low of Rs 814. The total volume of shares traded was 258,302 at the BSE (Friday).

Prashanth Tapse: Adding to the rebranding news Reliance Infrastructure has also bagged the consultancy contract for supervisory control and data acquisition relating to power distribution for Patna. The order was awarded to Reliance Infrastructure by the Bihar State Electricity Board. Reliance Infrastructure has already implemented SCADA in its Mumbai and Delhi distribution networks. The company is executing such consultancy projects for 10 cities in Maharashtra, two each in Haryana and Chhattisgarh. Technically we expect the stock to consolidate at these levels or even test 758 before taking any fresh upward move. Hence we advice traders to buy with a medium term target of Rs 883.

Reliance Capital:

Shares of the company gained Rs 13.75, or 2.1%, to settle at Rs 668.05. It touched a high of Rs 671.90 and a low of Rs 658.05.The total volume of shares traded was 314,882 at the BSE (Friday).

Prashanth Tapse: Technically Reliance Capital can be bought with a stop loss of Rs 620 for a target Rs 710.

Reliance Power:

Shares of the company gained Rs 4.05, or 2.63%, to settle at Rs 158.10. It touched a high of Rs 159.70 and a low of Rs 154.85. The total volume of shares traded was 1,359,497 at the BSE (Friday)

Prashanth Tapse: The stock has been consolidating sideways in a broad range between Rs 150 and Rs 190 in last 5-6 month. Technically the stock is in narrow range with no clear trend on charts. Key short-term support is at Rs 145 and resistance is at Rs 165. Important long-term support for the stock is at Rs 130.

Wishing readers a very happy and a prosperous 2011!

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.


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