Stocks buzzing on traders’ radar for September F&O series




Analysts advise taking a stock specific approach to guard against the increased volatility. NSEBSEReliance IndustriesLoading data…

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    ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIESReddy’s LaboratoriesLoading data…

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      ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIESBerger PaintsLoading data…

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        ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIESBajaj FinanceLoading data…

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          ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIESAshok LeylandLoading data…

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            ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIESBajaj FinanceAshok LeylandEXPAND TO VIEW ALL The month of September is turning out to be a volatile one for the stock market due to the persisting geopolitical tensions surrounding North Korea. Analysts advise taking a stock specific approach to guard against the increased volatility. ET takes a look at five stocks that stand out in terms of high open interest changes in the September derivatives series.

            RELIANCE INDUSTRIES
            CMP: Rs 1,644 | Share price chg in Sept series (%): 3
            OI chg in Sept futures (%): 34.1 | YTD Chg (%): 52.1

            RIL has been gaining consistently for the last six sessions ahead of it turning ex-bonus on Thursday. Analysts see several positive triggers for the stock in the near term. Reiterating ‘buy’, CLSA said if the telecom regulator cuts interconnection usage charge, it could add up to 13-14% to RIL’s consolidated EPS. Start of downstream expansions and gradual reduction in discounts for Jio’s smartphone users are other near-term triggers, said CLSA.

            DR REDDY’S LABORATORIES
            CMP: Rs 2,191.35 | Share price chg in Sept series (%): 8.6
            OI chg in Sept futures (%): -10.9 | YTD Chg (%): -28.3

            Favourable verdict in a patent infringement litigation in the US has led to traders covering short positions in the pharmaceutical company’s stock. However, the stock continues to trade well below short- and long-term averages. The stock’s 200-day simple moving average is at Rs 2,725.3. Bloomberg data show that of the 45 analysts tracking the stock, 20 have a ‘hold’ rating on it, 16 have a ‘sell’ recommendation while nine analysts have a ‘buy’ rating.

            BAJAJ FINANCE
            CMP: Rs 1,859.70 | Share price chg in Sept series (%): 3.9
            OI chg in Sept futures (%): 15.4 | YTD Chg (%): 120.4

            Bajaj Finance, which is set to become a Nifty constituent from September 29, has been trading fi rm on strong response to its Rs 4,500-crore qualifi ed institutional placement. Its market cap crossed Rs 1 lakh crore recently. Amit Gupta, head of derivatives at ICICIdirect, said one can buy the stock near its major support of Rs 1,730 for a target of Rs 2,050 in the current series.

            BERGER PAINTS (INDIA)
            CMP: Rs 259.95 | Share price chg in Sept series (%): 5.8
            OI chg in Sept futures (%): 46.2 | YTD Chg (%): 23.5

            Prospects of better volume growth could be drawing investors to Berger Paints. “Berger imports raw materials like crude derivatives and titanium dioxide, so it will get margin benefi t from the appreciation of the rupee. Also, after GST related initial disruption, recovery is likely in Q2 for consumer companies in terms of volume growth. Also, titanium dioxide prices have fallen quarter-on-quarter,” said Abneesh Roy, senior VP at Edelweiss Securities.

            ASHOK LEYLAND
            CMP: Rs 112.25 | Share price chg in Sept series (%): 4.7
            OI chg in Sept (%): 26.5 | YTD Chg (%): 38.5

            The company registering a growth of 25% in August sales from the same period a year ago has boosted the stock in recent days. In August, the company sold 13,634 units compared to 10,897 units in the same month a year ago. The stock is in a short-term uptrend and could rise to Rs 115-119 in the near term, said Swapneel Mantri, technical analyst at Sushil Finance.




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