Kerbside

The recommendations provided in this column are taken from various market sources such as brokers, analysts, dealers and investment strategists, etc. These recommendations may not be backed by strong fundamentals. Therefore we advise readers to use their own discretion before investing in these recommendation.

Bank of Baroda 
BSE Code: 532134
CMP: Rs147

State-owned lender Bank of Baroda’s net profit plunged 52 per cent to Rs 203.39 crore for the first quarter ended June on higher provisioning towards bad loans. We feel that Bank of Baroda decision of selling some of its non-core assets of about Rs 2000 crore during the financial year 2018 as a part of its capital raising plan is a step in the right direction and this may infuse positive price momentum in the stock in the short term.

Phillips Carbon Black 
BSE Code: 506590 
CMP: Rs629

RP Sanjiv Goenka group company Phillips Carbon Black reported 407 per cent surge in standalone net profit to Rs 48 crore for the quarter ended June, 2017, riding on the back of higher demand and lower cost. The company expects its performance in the first quarter to be sustainable moving forward. The company would invest Rs 300 crore on brownfield expansion. The additional capacity of 80,000 tonnes per annum to be added at Palej and Mundra in Gujarat would be ready by the end of FY19. The prospects of the stock looks promising and it is worth initiating a long position in the stock for medium to short term.

Kolte-Patil Developers 
BSE Code: 532924 
CMP: Rs167

Pune-based developer KoltePatil Developers has sold a land parcel in the city’s Wakad area for a consideration of Rs 161 crore. The strategic sale has been undertaken after evaluating the overall feasibility and is in line with the company’s strategy of maintaining a lean balance sheet. The company will continue to explore strategic partnerships under asset light models to enhance its overall portfolio and position the company for sustained growth. The stock looks good for accumulation for the short term. 

AND FINALLY..

Good interest is seen in this stock in the last couple of weeks and the company reported quite impressive numbers for Q1. As per market murmurs, the stock is likely to continue its momentum in the northward direction and hence it is a good buy for momentum traders for the short term.