The Benchmark Indices concluded Tuesday’s trading session positively, with the Sensex increasing marginally by 90.8 points, or nearly 0.11 percent, ending the day at 83,079.66.
Meanwhile, the Nifty 50 index increased by about 34.8 points, equivalent to a rise of nearly 0.14 percent, and closed in the green at 25,418.55.
Over the previous five trading sessions, the Nifty 50 index moved up by 1.5 percent, while the Sensex witnessed a growth of around 1.4 percent.
Following are the six stocks for which brokerages recommended an upside of up to 100 percent:
Mahanagar Gas Limited
With a market capitalisation of Rs. 18,783.6 crores, the shares of an India-based natural gas distribution company moved up by nearly 6.8 percent on BSE to Rs. 1,942 on Tuesday.
The analysts of a global brokerage firm UBS have issued a ‘buy’ rating for Mahanagar Gas, setting a target price of Rs. 2,400 per share, indicating a potential upside of nearly 26 percent from Tuesday’s closing price of Rs. 1,901.6.
Also read: Defence stock hits 5% upper circuit after receiving manufacturing license for defence products
Incorporated in 1995, Mahanagar Gas Limited is in the business of City Gas Distribution (CGD). It is the sole authorised distributor of compressed natural gas (CNG) for use in motor vehicles and piped natural gas (PNG) for domestic households as well as for commercial and industrial use in Mumbai.
Indraprastha Gas Limited
With a market capitalisation of Rs. 38,318 crores, the shares of a leading City Gas Distribution company moved up by nearly 6.1 percent on BSE to Rs. 562.8 on Tuesday.
The analysts of a global brokerage firm UBS have issued a ‘buy’ rating for Indraprastha Gas, setting a target price of Rs. 700 per share, indicating a potential upside of nearly 28 percent from Tuesday’s closing price of Rs. 547.4.
Incorporated in 1998, Indraprastha Gas Limited is a joint venture (JV) between GAIL (India) Ltd. and Bharat Petroleum Corporation Ltd. and is in the business of City Gas Distribution.
Adani Green Energy Limited
With a market capitalisation of Rs. 3.09 lakh crores, the shares of India’s largest renewable energy company moved up by nearly 2.5 percent on BSE to Rs. 1,978.9 on Tuesday.
The analysts of brokerage firm Emkay Global Financial Services have issued a ‘buy’ rating for Adani Green Energy, setting a target price of Rs. 2,550 per share, indicating a potential upside of nearly 31 percent from Tuesday’s closing price of Rs. 1,953.6.
Also read: Should you buy Bajaj Housing Finance stock after 135% listing gains or book profits?
Incorporated in 2015, Adani Green Energy Limited develops, owns, and operates utility scale grid-connected solar, wind, hybrid and hydro pumped storage renewable power plants.
Ola Electric Mobility Limited
With a market capitalisation of Rs. 52,092 crores, the shares of a leading electric vehicle (EV) manufacturer in India hit a 10% upper circuit on BSE at Rs. 118.4 on Tuesday.
The analysts of global brokerage firm Goldman Sachs have issued a ‘buy’ rating for Ola Electric Mobility, setting a target price of Rs. 160 per share, indicating a potential upside of nearly 36 percent from Tuesday’s closing price of Rs. 118.1.
Founded in 2017, Ola Electric Mobility Limited is an EV company that is primarily engaged in the manufacturing of EVs and core components for EVs including battery packs, motors, and vehicle frames, all produced at the Ola Futurefactory.
Stove Kraft Limited
With a market capitalisation of Rs. 3,041.8 crores, the shares of one of the leading brands for home & kitchen appliances in India moved up by nearly 0.8 percent on BSE to Rs. 945.9 on Tuesday.
The analysts of brokerage firm Emkay Global Financial Services have issued a ‘buy’ rating for Stove Kraft, setting a target price of Rs. 1,350 per share, indicating a potential upside of nearly 47 percent from Tuesday’s closing price of Rs. 920.3.
Stove Kraft Limited is engaged primarily in the business of manufacturing pressure cookers, LPG stoves, non-stick cookware and trading of other kitchen and electrical appliances under the brand names Pigeon, Pigeon LED and “Gilma”.
Neogen Chemicals Limited
With a market capitalisation of Rs. 4,754 crores, the shares of India’s one of the leading manufacturers of Bromine-based and Lithium-based specialty chemicals moved up by nearly 14.3 percent on BSE to Rs. 1,830 on Tuesday.
The analysts of brokerage firm Avendus Spark have issued a ‘buy’ rating for Neogen Chemicals, setting a target price of Rs. 3,600 per share, indicating a potential upside of nearly 100 percent from Tuesday’s closing price of Rs. 1,802.
Incorporated in 1989, Neogen Chemicals Limited is engaged in the business of manufacturing of eco-friendly speciality chemicals used in the Pharmaceutical, Engineering and Agro-Chemical industries.
Written by Shivani Singh
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