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

A GOOD BET

Coforge Ltd

BSE Code: 532541
CMP: ₹3,790.30

Coforge Ltd. is a Mid-Cap IT company. It primarily works in providing computer programming consultancy and allied businesses. Despite a weak IT market in the last quarter, the company has posted better-than-expected results. The revenue grew by 25 per cent YoY while its EPS made a 20 per cent jump to ₹24.57 YoY. Moreover, the company expects to tackle the slowdown amid recession fears. IT stocks, after being hammered down lately, have seen strong buying interest in the past week. The stock has jumped over 10 per cent last week and recorded above average volume. It is currently above its prior swing high and is expected to maintain the bullish run for some more time. It has already corrected significantly and you can consider fresh purchase in this stock as the current dynamics of the market are changing to positive.

ENGINEERING A PROFITABLE PROCESS

PRAJ INDUSTRIES LTD.

BSE Code: 522205
CMP: ₹398.65

Praj Industries Limited is engaged in biofuel technological products. It provides solutions for ethanol generations and fuel cells for various manufacturing plants. In a recent interview, the company’s chairman expressed optimism about the growth of the company and his expansionary view in biochemicals and sustainable aviation fuel. The same is being reflected in its stock price, as it has shot up over 25 per cent from its prior swing low. Interestingly, it has generated over 250 per cent returns in the past three years. With such strong expansion plans and positive management commentary, the stock is bound to engineer good profit in times to come. 

SEEING HUGE DEMAND

SRF LTD.

BSE Code: 503806
CMP: ₹2,384.70

SRF Limited works in the diversified business of manufacturing speciality chemicals and fluorine products, polymers and packaging films. In recent times, the demand for speciality chemicals has been on a rise and the company has posted strong Quarterly Results. Net sales have grown nearly 45 per cent YoY which gives a positive indication about the company’s business growth. The stock is currently above all the key moving averages and above its prior swing highs. Moreover, the technical parameters indicate strong strength in the stock. Such positivity is bound to attract traders’ attention and you can remain positive on its strong demand. 

IN A SWEET SPOT

E.I.D.-PARRY (INDIA) LTD.

BSE Code: 500125
CMP: ₹563.60 



E.I.D. Parry (India) is engaged in the manufacturing and marketing of sugar, bio-pesticides and nutraceuticals. The stock is extremely bullish and has hit a fresh lifetime high of Rs 580 on Monday. It has defied the market sentiment for the past many weeks as it looks to scale newer highs. Lately, the volumes have been above average and the stock has broken out from its consolidation pattern. Most of the Indian festivals are due in the upcoming months and demand for sugar will obviously rise. Technically, the stock is a good bet and has potential to gain another 8-10 per cent in the short term. It is in a sweet spot among the traders and there is no reason why you should miss out cashing on this stock.