The Benchmark Indices concluded Wednesday’s trading session positively, with the Sensex rising by 285.9 points, or nearly 0.35 percent, ending the day at 81,741.34. Meanwhile, the Nifty 50 index increased by about 93.8 points, equivalent to a gain of nearly 0.38 percent, and closed in the green at 24,951.15.
Over the previous five trading sessions, the Nifty 50 index moved up by 2.2 percent, while the Sensex has witnessed a rise of around 2 percent.
Following are the six stocks for which brokerages recommended an upside of up to 50 percent:
Mahanagar Gas Limited
With a market capitalisation of Rs. 18,323.3 crore, the shares of an India-based natural gas distribution company moved up by nearly 1% on BSE, to hit a new 52-week high at Rs. 1,910.1 on Wednesday.
The analysts of brokerage firm Anand Rathi have issued a ‘buy’ rating for Mahanagar Gas, setting a target price of Rs. 2,264 per share, indicating a potential upside of 22 percent from Wednesday’s closing price of Rs. 1,855.
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.
Jindal Steel & Power Limited
With a market capitalisation of Rs. 1 lakh crore, the shares of one of India’s leading steel producers moved up by nearly 1.5 percent on BSE, reaching an intraday high of Rs. 991.45 on Wednesday.
The analysts of brokerage firm ICICI Securities have issued a ‘buy’ rating for Jindal Steel & Power, setting a target price of Rs. 1,240 per share, indicating a potential upside of 26 percent from Wednesday’s closing price of Rs. 988.95.
Jindal Steel & Power Limited is one of India’s leading steel manufacturers, with a significant presence in steel, power, mining and infrastructure.
Mankind Pharma Limited
With a market capitalisation of Rs. 81,375 crore, the shares of India’s fourth largest pharmaceutical company in India moved up by nearly 0.6 percent on BSE, reaching an intraday high of Rs. 2,068.55 on Wednesday.
The analysts of brokerage firm Motilal Oswal have issued a ‘buy’ rating for Mankind Pharma, setting a target price of Rs. 2,650 per share, indicating a potential upside of 31 percent from Wednesday’s closing price of Rs. 2,031.15.
Mankind Pharma Limited is engaged in the business of formulation, development and marketing of a wide range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products.
Equitas Small Finance Bank Limited
With a market capitalisation of Rs. 9,183 crore, the shares of one of the largest small finance banks in India moved up by nearly 1% on BSE, reaching an intraday high of Rs. 82.67 on Wednesday.
The analysts of brokerage firm Motilal Oswal have issued a ‘buy’ rating for Equitas Small Finance Bank, setting a target price of Rs. 110 per share, indicating a potential upside of 36 percent from Wednesday’s closing price of Rs. 80.79.
Equitas Small Finance Bank Limited is engaged in the retail banking business with a focus on micro-finance, commercial vehicle finance, home finance, loan against-property, corporate finance, and providing financing solutions for individuals and micro and small enterprises (MSEs).
Fedbank Financial Services Limited
With a market capitalisation of Rs. 4,669 crore, the shares of a leading retail-focused NBFC moved up by nearly 1% on BSE, reaching an intraday high of Rs. 126.9 on Wednesday.
The analysts of brokerage firm ICICI Securities have issued a ‘buy’ rating for Fedbank Financial Services, setting a target price of Rs. 184 per share, indicating a potential upside of 46 percent from Wednesday’s closing price of Rs. 125.9.
Fedbank Financial Services Limited, also known as Fedfina, is a retail-focused NBFC promoted by Federal Bank Limited and offers multiple credit facilities including gold loans, home loans, loans against property, business loans, loans against the pledge of gold ornaments, and structured finance.
Tatva Chintan Pharma Chem Limited
With a market capitalisation of Rs. 2,337.7 crores, the shares of an integrated specialty chemical company moved up by nearly 1% on BSE, reaching an intraday high of Rs. 1,008.95 on Wednesday.
The analysts of brokerage firm ICICI Securities have issued a ‘buy’ rating for Tatva Chintan Pharma Chem, setting a target price of Rs. 1,500 per share, indicating a potential upside of 50 percent from Wednesday’s closing price of Rs. 999.35.
Established in 1996, Tatva Chintan Pharma Chem Limited is primarily engaged in the manufacturing and selling of specialty chemicals, phase transfer catalysts (PTC), structure directing agents (SDA), electrolyte salts (ES), pharmaceutical and agrochemical intermediates and other specialty chemicals (PASC).
Written by Shivani Singh
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