The Delhi Police Economic Offences Wing has served a notice to Niira Radia and other promoters and directors of Nayati Healthcare and research NCR Pvt Ltd to join probe in connection with alleged embezzlement of over Rs 300 crore of bank loan.
Bothra recommended Hindustan Unilever (HUL) and Indian Bank. He believes the FMCG basket looks attractive as compared to most other sectors and given the market cool off. He remains optimistic that HUL could come back to Rs. 2450-odd highs once again. He gave a Buy call on the stock with a target of Rs. 2450 and a stop loss of Rs. 2355.
Bothra also added Indian Bank to his recommendation for the day, and he called it a High Risk trade. He said that public sector banks are high beta in nature and the stock of Indian Bank, which hit Rs. 97-98 levels, cooled off 15% from those highs. Post the correction, it is likely to pick up again, according to Bothra. He gave a Buy rating with a target of Rs.105-110 and a stop loss of Rs. 88.