The benchmark indices opened in the red on Tuesday, with the Sensex dropping by 1,860.93 points (2.43%) to 74,607.85. The Nifty 50 index also fell significantly, losing 591.90 points (2.54%) to close at 22,672.
Following are the five stocks for which brokerages recommended an upside of up to 35 percent.
Jindal Stainless Ltd
Jindal Stainless Ltd is one of the largest manufacturers of Stainless Steel flat products, in Austenitic, Ferritic, Martensitic and Duplex grades in India used in a variety of industries like automobile, railways, construction, consumer goods etc.
On Tuesday, Jindal Stainless Ltd., which has a market capitalization of Rs. 65,418 crore, saw its shares decline by 1.3% to Rs 794 each.
Analysts at the brokerage firm ICICI Securities have given the stock a ‘buy’ rating, setting a target price of Rs. 955 per share, indicating a potential upside of 20% from the current price.
Electronics Mart India Ltd
Electronics Mart India Limited is the 4th largest consumer durable and electronics retailer in India. The company offers a diversified range of products with a focus on large appliances (air conditioners, televisions, washing machines, and refrigerators), mobiles and small appliances, IT, and others.
On Tuesday, Electronics Mart India Ltd., which has a market capitalization of Rs. 7,747 crore, saw its shares decline by 4.5% to Rs 201 each.
The brokerage firm AnandRathi have given the stock a ‘buy’ rating, setting a target price of Rs. 268 per share, indicating a potential upside of 33% from the current price.
Life Insurance Corporation of India
Life Insurance Corporation (LIC) is the largest insurance provider company in India. It has a market share of above 66.2% in new business premium. The company offers participating insurance products and non-participating products like unit-linked insurance products, saving insurance products, term insurance products, health insurance, and annuity & pension products.
On Tuesday, Life Insurance Corporation of India, which has a market capitalization of Rs. 6,30,571 crore, saw its shares decline by 6.62% to Rs 997 each.
Motilal Oswal Securities, a brokerage firm, has issued a ‘buy’ rating for the stock, with a target price of Rs. 1,270 per share, suggesting a potential 27% increase from its current price.
Uniparts India Ltd
Uniparts India Limited is a manufacturer of engineered systems and solutions. The company is one of the leading suppliers of systems and components for the off-highway market in the agriculture and construction, forestry and mining (“CFM”), and aftermarket sectors with a presence across over 25 countries.
On Tuesday, Uniparts India Ltd, which has a market capitalization of Rs. 2,177 crore, saw its shares decline by 0.95% to Rs 482 each.
The brokerage firm JM Financials securities have given the stock a ‘buy’ rating, setting a target price of Rs. 650 per share, indicating a potential upside of 35% from the current price.
Ashok Leyland Ltd
Ashok Leyland is the flagship Company of the Hinduja group, with a long-standing presence in the domestic medium and heavy commercial vehicle (M&HCV) segment.
On Tuesday, Ashok Leyland Ltd, which has a market capitalization of Rs. 66,701 crore, saw its shares decline by 3.95 % to Rs 227 each.
The brokerage firm Philip Capital have given the stock a ‘buy’ rating, setting a target price of Rs. 257 per share, indicating a potential upside of 13% from the current price.
Written by Omkar Chitnis
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