The Benchmark Indices concluded Wednesday’s trading session positively, with the Sensex rising by 874.94 points, or nearly 1.11 percent, ending the day at 79,468.01. Meanwhile, the Nifty 50 index increased by about 304.95 points, equivalent to a gain of nearly 1.27 percent, and closed in the green at 24,297.5.
Over the previous five trading sessions, the Nifty 50 index moved down by 2.6 percent, while the Sensex has witnessed a decline of around 2.8 percent.
Following are the five stocks for which brokerages recommended an upside of up to 38 percent:
Syrma SGS Technology Limited
With a market capitalisation of Rs. 7,382.2 crore, the shares of one of the leading Electronics System Design and Manufacturing (ESDM) company in India moved up by nearly 3.4 percent on BSE to Rs. 442.55 on Wednesday.
The analysts of brokerage firm Motilal Oswal have issued a ‘buy’ rating for Syrma SGS Technology, setting a target price of Rs. 540 per share, indicating a potential upside of 30 percent from Wednesday’s closing price of Rs. 415.7.
Syrma SGS Technology Limited is engaged in the business of manufacturing various electronic sub-assemblies, assemblies and box builds, disk drives, memory modules, power supplies/adapters, fibre optic assemblies, magnetic induction coils and RFID products and other electronic products.
Birlasoft Limited
With a market capitalisation of Rs. 15,970.2 crore, the shares of a global leader at the forefront of Cloud, AI, and Digital technologies, moved up by nearly 3 percent on BSE to Rs. 593 on Wednesday.
The analysts of brokerage firm ICICI Direct have issued a ‘buy’ rating for Birlasoft, setting a target price of Rs. 770 per share, indicating a potential upside of 33 percent from Wednesday’s closing price of Rs. 578.
Birlasoft Limited provides software development, and global IT consulting to its clients, predominantly in banking, financial services and insurance, life sciences and services, energy resources and utilities and manufacturing verticals.
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Prestige Estates Projects Limited
With a market capitalisation of Rs. 66,214.3 crore, the shares of one of the leading real estate developers in India moved up by nearly 3.4 percent on BSE to Rs. 1,692.45 on Wednesday.
The analysts of brokerage firm Axis Direct have issued a ‘buy’ rating for Prestige Estates Projects, setting a target price of Rs. 2,195 per share, indicating a potential upside of 33 percent from Wednesday’s closing price of Rs. 1,651.8.
Prestige Estates Projects Limited is engaged in the business of real estate development with projects in residential, office, retail and hospitality segments, and operations spread across South India, Pune, Goa and Ahmedabad.
Maharashtra Seamless Limited
With a market capitalisation of Rs. 8,154.7 crore, the shares of a company engaged in the manufacture of seamless pipes & tubes moved up by nearly 1.8 percent on BSE to Rs. 612 on Wednesday.
The analysts of brokerage firm PhilipCapital have issued a ‘buy’ rating for Maharashtra Seamless, setting a target price of Rs. 815 per share, indicating a potential upside of 34 percent from Wednesday’s closing price of Rs. 608.6.
Incorporated in 1988, Maharashtra Seamless Limited is involved in the business of manufacturing seamless pipes and tubes with the finest quality and wide product range, and has also diversified into renewable power generation and rig operations.
Indian Oil Corporation Limited
With a market capitalisation of Rs. 2.43 lakh crore, the shares of India’s flagship Maharatna national oil company moved up by nearly 3.4 percent on BSE to Rs. 172.6 on Wednesday.
The analysts of brokerage firm Antique Stock Broking have issued a ‘buy’ rating for Indian Oil Corporation, setting a target price of Rs. 238 per share, indicating a potential upside of 38 percent from Wednesday’s closing price of Rs. 172.3.
Indian Oil Corporation Limited have business interests straddling the entire hydrocarbon value chain – from refining, pipeline transportation & marketing, to exploration & production of crude oil & gas, petrochemicals, gas marketing, alternative energy sources and globalisation of downstream operations.
Written by Shivani Singh
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