The Benchmark Indices closed in the green on Wednesday, with the Sensex experiencing a gain of 545.35 points or nearly 0.7 percent, ending the day at 79,986.8, and the Nifty 50 index closed in green by nearly 0.67 percent or 162.65 points, to close at 24,286.5.
The Nifty 50 index moved up by 1.75 percent over the previous five trading sessions, while the Sensex climbed by about 1.67 percent.
Following are the five stocks for which brokerages recommended an upside of up to 34 percent.
State Bank of India
With a market capitalisation of Rs. 7.49 lakh crore, the stock moved up by 2.1 percent on BSE to hit an intraday high at Rs. 843.8 in the trading session of Wednesday, against its previous closing price of Rs. 826.35.
The analysts of brokerage firm Axis Securities gave a ‘buy’ rating on SBI with a target price of Rs. 1,010 per share, representing a potential upside of nearly 21 percent from the closing price of Rs. 840.1.
State Bank of India is a banking and financial services statutory body engaged in the business of providing a wide range of products and services to individuals, commercial enterprises, large corporates, public bodies, and institutional customers.
Prince Pipes and Fittings Limited
With a market capitalisation of Rs. 7,697.8 crore, the shares of one of India’s largest integrated piping solutions & multi polymer manufacturers moved up by 2.4 percent on BSE to hit an intraday high at Rs. 713.55 in the trading session of Wednesday, against its previous closing price of Rs. 696.65.
The analysts of brokerage firm Yes Securities gave a ‘buy’ rating on Prince Pipes and Fittings with a target price of Rs. 850 per share, representing a potential upside of about 23 percent from the closing price of Rs. 695.
Incorporated in 1987, Prince Pipes and Fittings Limited (PPFL) is a Fortune India 500 company engaged in the manufacturing of polymer piping solutions in four types of polymers – CPVC, UPVC, HDPE, and PPR.
Andhra Paper Limited
With a market capitalisation of Rs. 2,454.6 crore, the shares of one of the top ten leading integrated pulp and paper manufacturer moved up by 3.2 percent on BSE to hit an intraday high at Rs. 638 in the trading session of Wednesday, as against its previous closing price of Rs. 617.9.
The analysts of brokerage firm Axis Securities gave a ‘buy’ rating on Andhra Paper with a target price of Rs. 803 per share, representing a potential upside of 32 percent from the closing price of Rs. 610.
Incorporated in 1964, Andhra Paper Limited, formerly known as International Paper APPM Ltd., is engaged in the business of manufacturing pulp, paper, and paperboard.
The company also provides a range of office documentation and multipurpose papers, from economy to premium grades for both home and commercial use.
Hindware Home Innovation Limited
With a market capitalisation of Rs. 3,308.3 crore, the shares of a consumer appliances and building products company moved up by 6.1 percent on BSE to hit an intraday high at Rs. 469.55 in the trading session of Wednesday, as against its previous closing price of Rs. 442.5.
The analysts of brokerage firm Yes Securities gave a ‘buy’ rating on Hindware Home Innovation with a target price of Rs. 600 per share, representing a potential upside of about 33 percent from the closing price of Rs. 453.4.
Hindware Home Innovation Limited is engaged in the business of manufacturing, selling and trading of building products, glass products, consumer products, plastic products, and retail business.
Interglobe Aviation Limited
With a market capitalisation of Rs. 1.65 lakh crore, the shares of one of India’s leading airlines moved up by 0.73 percent on BSE to hit an intraday high at Rs. 4,285 in the trading session of Wednesday, as against its previous closing price of Rs. 4,253.85.
The analysts of brokerage firm Kotak Institutional Equities gave a ‘buy’ rating on Interglobe Aviation with a target price of Rs. 5,700 per share, representing a potential upside of 34 percent from the closing price of Rs. 4,275.1.
Incorporated in 2006, the principal activities of InterGlobe Aviation Limited comprise air transportation including passenger and cargo services and providing related allied services including in-flight sales. The company operates its flights under the IndiGo brand.
Written by Shivani Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. 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.
