After six consecutive sessions of opening in the red, the stock markets opened with gains on Thursday, as they inched higher. The 30 share index (BSE Sensex) was up 495 points, at 57533.31. The NSE Nifty, which is a 50 share index, breached the 17200 mark. It was up 146 points at 17282.85 points. The India VIX fell 4% to sit below 18 levels.
Here are a few stock recommendations by top brokers, for different durations:
- FSN E-Commerce Ventures (Nykaa)
Morgan Stanley on Sunday upgraded Nykaa’s shares from ‘equal-weight’ to ‘overweight’ addressing it as a consumer business with a technology edge. However, the brokerage reduced its target price from ₹2183 to ₹2040.
Morgan Stanley said that the recent stock correction gives a compelling entry point to long term investors. It believes that Nykaa’s beauty business is a sweet spot and is bullish on the company’s growth prospects. Nykaa recently entered a partnership with Aveda to launch Prestige Salons and the brokerage views this as a positive move to expand the company’s retail footprint.
- ACC
ICICI Securities has given a buy call on the shares of ACC, one of the oldest cement player in the industry. As per its research report, the company has a strong balance sheet with debt free status, however it remains laggard in terms of efficiency and operating margins as compared to its peer companies.
- Target Price: ₹ 2,600
- Date: April 20, 2022
- CMP: ₹ 2,222.00
- Upside: 17.01%
- Tim Period: 12 to 18 months
- UPL Limited
Edelweiss has given a buy call on the shares of UPL Limited.The company manufacturer and markets agrochemicals, industrial chemicals, chemical intermediates, and specialty chemicals.
- Entry Price: ₹ 818.00
- Date April 20, 2022
- Stop Loss: ₹ 790.00
- Target Price: ₹ 875.00
- CMP: 825.55
- Upside: 5.99%
- Duration: 1 day to 1 month
- Sharada Cropchem
Axis Direct has given a buy call on the shares of Sharda Cropchem. The company is engaged in the supply of marketing and distribution of a wide range of formulations and generic active ingredients in more than 80 countries.
- Entry Price Range: ₹ 680.00 to ₹ 687.00
- Stop Loss: ₹ 670.00
- Current Price: ₹ 692.15
- Target Price: ₹ 738.00
- Upside: 6.62%
- Duration: 5 days to 15 days
- ICICI Securities
CLSA has maintained an ‘outperform’ rating on the shares of ICICI Securities. However, it has trimmed its target price from ₹ 750 to ₹ 720 due to muted performance, and brokerage volumes that are down sequentially.
The company is a subsidiary of ICICI Bank and had posted a 21% jump in revenue and has a client base of 76 lakhs, out of which 6.2 lakh were added in the March quarter.
Disclaimer
The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
