Three Stocks To Buy + Two Call Success And Updates By Amar Ambani Of IIFL

Gulf Oil Lubricants – BUY
CMP Rs535, Target Rs600, Upside 12.1%

• Revival in industrial activity and auto sales to spur lube demand

• Gulf Oil to grow faster than the industry

• OPM surge led by lower crude prices, operating leverage, new plant

• Trading at substantial discount to the leader

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UPL Limited – BUY
CMP Rs362, Target Rs402, Upside 10.2%

For the first time in four months, UPL has shown signs of bottoming out and has broken out of an Inverted Head & Shoulder pattern on the daily charts. On assessing the weekly chart, UPL has also broken out from a Flag Pattern which is also a bullish pattern; this further accentuates our bullish stance on the stock.

We advise traders to BUY UPL for a potential target of Rs402 (1-3 months). Keep a strict Stop Loss of Rs340 on every long position.

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BEML: Headed for electrifying move – BUY
CMP Rs888, Target Rs1,110, Upside 25%

BEML has managed to clear past the long term resistance line. The same led to the formation of an inverted head & shoulders pattern both on weekly & monthly charts. It could turn out to be a major reversal pattern, because the structure is in place since May 2011. We recommend a BUY on the stock for a conservative target of Rs1,110 with a stop loss of Rs775.

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Emami Ltd – Call Success and Update
Reco price Rs796, Previous target price Rs879, New target price Rs972

We had revised our target on Emami to Rs796 in a call update dated September 05, 2014. We extended our target price to Rs879 in a call update released on October 30, 2014. The stock surpassed our target in today’s trading session registering 10.5% returns. We remain positive on the growth prospects of the company and advise investors to hold on to the stock for a revised target of Rs972.

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Pidilite Industries – Call Success and Update
Reco price Rs551, Previous target price Rs607, New target price Rs670

We had recommended a BUY call on Pidilite Industries in our strategy report Diwali Dhamaka released on October 22, 2014 with a price target of Rs501. We extended our target to Rs551 in a call update released on December 01, 2014 and then to Rs607 in a call update released on January 05, 2015. The stock achieved our target in today’s trading session thereby delivering ~52% returns in less than three months of recommendation. We remain positive on the growth prospects of the company and advise investors to hold on to the stock for a revised target of Rs670.

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