Now Reading: Vodafone Idea, Paradeep Phosphates, Hindustan Copper get bullish calls
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Vodafone Idea, Paradeep Phosphates, Hindustan Copper get bullish calls
Vodafone Idea, Paradeep Phosphates, Hindustan Copper get bullish calls
Analyst Upadhyay has given a positive view on Vodafone Idea, Paradeep Phosphates and Hindustan Copper, with specific price targets and stop losses for each. He said Vodafone Idea's structure looks positive and…
Analyst Upadhyay has given a positive view on Vodafone Idea, Paradeep Phosphates and Hindustan Copper, with specific price targets and stop losses for each. He said Vodafone Idea's structure looks positive and the stock could see an upside zone of Rs 18-18.50, advising a trailing stop loss below Rs 13.50.
For Paradeep Phosphates, Upadhyay said the stock is trading above all key moving averages and could move towards Rs 180-190 in the short to medium term, with a stop loss below Rs 150. On Hindustan Copper, he recommended participating in the government's offer-for-sale (OFS) and building positions in a staggered manner for a horizon of over six to eight months, with a stop loss below Rs 470. He sees a potential upside towards Rs 720-740.
The government's two-day OFS of Hindustan Copper for up to a 6 per cent stake began on August 25 for non-retail investors, with a floor price of Rs 514 per share. The offer opens for retail investors on August 26 from 9:15 am to 3:30 pm.
Indian Opinion Analysis
The government has been using OFS as a key route to meet its disinvestment targets. Hindustan Copper is a central public sector enterprise under the Ministry of Mines. A 6 per cent stake sale at the current floor price of Rs 514 would raise roughly Rs 465 crore at the company's last closing price, though actual receipts depend on demand. The response from institutional investors on the first day will set the tone for retail participation on August 26. Investors will watch the final subscription numbers and the cut-off price to gauge market appetite for further CPSE stake sales this fiscal year.
Source: businesstoday.in
This story was synthesised by AI from the source linked above.
