The equity market is on a roll and our Top Picks basket of stocks has given another month of index-beating returns. In February 2017 the benchmark indices, Sensex and Nifty, appreciated by 3.9% and 3.7% respectively whereas the Top Picks basket surged by 6%.
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After the strong rally, we believe it is time to take home profits in some of the stocks that have given exceptional returns within a short time. Thus, we are booking profit in RBL Bank (which has appreciated by 43.6% in the last two months) and in Balrampur Chini Mills (which has gained 22.4% in the last two months).
This month, we are replacing RBL Bank with LIC Housing Finance where we see scope for better returns over the next few months. RBL Bank continues to be our preferred long-term pick among the private banks but the upside could be limited in the near-term given the sharp upsurge seen in the past couple of months. The second change this month is the introduction of bellwether Reliance Industries, which has proven its ability to chalk out a profitable roadmap for its telecommunication venture (in which it has invested a whopping $27 billion). Moreover, the core refining and petrochem businesses are also looking up and would benefit from the additional investments made to strengthen them.
STOCK OPTION REVIEW: TODAYS TOTAL PROFIT OF RS.8445/- BPCL 680 CE (+7320) GRASIM 1000 CE (+4125) RELCAPITAL (-3000)...
STOCK FUTURE REVIEW: TODAYS TOTAL PROFIT OF RS.10315/- BHARATFIN (+4700) ASIANPAINTS (+3480) AUROPHARMA (+2135)...
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