The Benchmark Indices concluded Wednesday’s trading session negatively, with the Sensex decreasing by 318.76 points, or nearly 0.4 percent, ending the day at 81,501.36.
Meanwhile, the Nifty 50 index decreased by about 86.05 points, equivalent to a rise of nearly 0.34 percent, and closed in the red at 24,971.3.
Over the previous five trading sessions, the Nifty 50 index experienced a slight decline of about 0.04 percent, while the Sensex saw a marginal increase of around 0.04 percent.
Below are six stocks that brokerages have recommended for a potential upside of up to 45 percent:
Vedanta Limited
With a market capitalisation of Rs. 1.9 lakh crores, the stock moved up by nearly 1.4 percent on BSE to Rs. 496.5 on Wednesday.
The analysts of brokerage firm ICICI Securities have issued a ‘buy’ rating for Vedanta, setting a target price of Rs. 600 per share, indicating a potential upside of nearly 23 percent from Wednesday’s closing price of Rs. 486.8.
Incorporated in 1975, Vedanta Limited is a diversified natural resource group engaged in exploring, extracting and processing minerals, oil and gas. It is engaged in the exploration, production and sale of oil & gas, aluminium, copper, iron ore and power.
Signatureglobal (India) Limited
With a market capitalisation of Rs. 21,104.7 crores, the shares of one of the leading real estate development companies in India moved up by nearly 1.2 percent on BSE to Rs. 1,549.95 on Wednesday.
The analysts of brokerage firm ICICI Securities have issued a ‘buy’ rating for Signatureglobal (India) Limited, setting a target price of Rs. 1,905 per share, indicating a potential upside of nearly 27 percent from Wednesday’s closing price of Rs. 1,502.
Signatureglobal (India) Limited is engaged in the business of real estate development. It also supplies construction materials and provides construction services.
Gopal Snacks Limited
With a market capitalisation of Rs. 5,911.8 crores, the shares of a leading FMCG company in India known for its high-quality snack products moved up by nearly 8 percent on BSE to hit a new 52-week high at Rs. 480 on Wednesday.
The analysts of brokerage firm Emkay Global Financial Services have issued a ‘buy’ rating for Gopal Snacks, setting a target price of Rs. 600 per share, indicating a potential upside of nearly 27 percent from Wednesday’s closing price of Rs. 474.45.
Incorporated in 2009, Gopal Snacks Limited is engaged in the business of manufacturing various types of ready-to-eat namkeens, snack pallets, corn products, potato chips, papad, besan, spices, etc.
Tata Consultancy Services Limited
With a market capitalisation of Rs. 14.81 lakh crores, the shares of this IT services company moved down by nearly 1.2 percent on BSE to hit an intraday low at Rs. 4,068.3 on Wednesday.
The analysts of brokerage firm Motilal Oswal Financial Services have issued a ‘buy’ rating for TCS, setting a target price of Rs. 5,400 per share, indicating a potential upside of nearly 32 percent from Wednesday’s closing price of Rs. 4,094.8.
Tata Consultancy Services Limited, the flagship company and a part of Tata group, provide IT services, consulting and business solutions.
Oil India Limited
With a market capitalisation of Rs. 85,714 crores, the shares of a Maharatna CPSE moved down by nearly 7.3 percent on BSE to Rs. 518.25 on Wednesday.
The analysts of brokerage firm Motilal Oswal Financial Services have issued a ‘buy’ rating for Oil India, setting a target price of Rs. 720 per share, indicating a potential upside of nearly 37 percent from Wednesday’s closing price of Rs. 526.95.
Oil India Limited is engaged in the exploration, development and production of crude oil, natural gas, LPG & condensate and provides services such as pipeline transportation and generation of renewable energy.
Tata Motors Limited
With a market capitalisation of Rs. 3.33 lakh crores, the shares of a leading global automobile manufacturer moved up by nearly 0.7 percent on BSE to Rs. 923.25 on Wednesday.
The analysts of brokerage firm Sharekhan have issued a ‘buy’ rating for Tata Motors, setting a target price of Rs. 1,319 per share, indicating a potential upside of nearly 45 percent from Wednesday’s closing price of Rs. 907.1.
Tata Motors Limited is engaged in the business of designing, manufacturing and sale of a wide range of automotive vehicles, along with manufacturing engines for industrial applications.
Written by Shivani Singh
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