Buy Ambuja Cements, Steel Authority of India, Adani Ports: Manoj Murlidharan

Manoj Murlidharan

Head- Derivatives | Religare Securities

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Manoj Murlidharan of Religare Securities told CNBC-TV18, "We like couple of stocks. Ambuja Cements tops the list. We believe that there might be follow on buy. Because it is expiry, there are sector specific, we see positive flows which happen towards the expiry. So, Ambuja Cements even on October future -  we recommend buying here at Rs 281, keep a stop loss of Rs 273 and we are expecting a target somewhere close to Rs 302."

"From the metals space, we like Steel Authority of India (SAIL). We recommend buying it in the cash rather than F&O and the price we recommend would be somewhere close to yesterday’s closing price at Rs 59.10, with stop loss of Rs 57, and possibly the distribution might come somewhere close to Rs 63.50-64; that would be the target that we are expecting."

"Adani Ports as well would qualify as a buy because we are expecting a VWAP based buying and a rollover shift to come into the month of November. So, Rs 407 is what we recommend buying at with a stop loss of Rs 398 and a target of Rs 422," he said.

At 11:15 hrs Steel Authority of India was quoting at Rs 60.05, up Rs 0.90, or 1.52 percent. It has touched an intraday high of Rs 60.55 and an intraday low of Rs 59.45.