The Benchmark Indices closed in the red on Friday with the Sensex losing 223 points and standing at Rs 62,626. Moreover, the Nifty 50 index fell 71 points and currently stands at Rs 18,563.
Opposing to the direction the markets have shown, listed below are 6 stocks to buy now for a potential upside of percent.
Tata Motors Limited:
Tata Motors Limited is an automobile manufacturing company based in India consisting of reportable sub-segments, some of which include Tata Passenger Vehicles, Tata Commercial Vehicles, etc. The company derives a majority of its revenues from domestic operations within India.
The company’s shares closed at Rs 562 apiece on Friday. It has a market capitalization of Rs 186,767 crores.
ICICI Direct gave a ‘Buy’ recommendation on the stock with a target price of Rs 700 indicating an upside of around 25 percent as compared to the prevailing stock prices.
Techno Electric & Engineering Company Limited:
Techno Electric & Engineering Company Limited is engaged in the business of providing engineering, procurement, construction (EPC), and other services. The company is also involved in the process of generation of wind power with the help of Wind Turbine Generators in the states of Karnataka & Tamil Nadu.
The company’s shares closed at Rs 369 apiece on Friday. It has a market capitalization of Rs 3,972 crores.
ICICI Direct gave a ‘Buy’ recommendation on the stock with a target price of Rs 480 indicating an upside of around 30 percent as compared to the prevailing stock prices.
Mphasis Limited:
Mphasis Ltd provides IT solutions that offer business process outsourcing, application development & integration, etc. It operates through various segments, some of which include insurance, logistics and transportation, banking and financial services, etc.
The company’s shares closed at Rs 1,853 apiece on Friday. It has a market capitalization of Rs 34,915 crores.
BOB Capital Markets gave a ‘Buy’ recommendation on the stock with a target price of Rs 2,541 indicating an upside of around 37 percent as compared to the prevailing stock prices.
KNR Constructions Limited:
KNR Constructions Limited is an infrastructure company based in India that is engaged in the business covering the ‘Infrastructure’ sector. It primarily looks after the construction of bridges, roads, flyovers, and various irrigation projects.
The company’s shares closed at Rs 234 apiece on Friday. It has a market capitalization of Rs 6,585 crores.
Axis Direct gave a ‘Buy’ recommendation on the stock with a target price of Rs 325 indicating an upside of around 39 percent as compared to the prevailing stock prices.
Greenply Industries Limited:
Greenply Industries Limited is an interior infrastructure company manufacturing and marketing various wood & plywood products. Some of the products offered by the company include decorative veneers, specialty plywood, pvc products, etc.
The company’s shares closed at Rs 161 apiece on Friday. It has a market capitalization of Rs 1,990 crores.
ICICI Securities gave a ‘Buy’ recommendation on the stock with a target price of Rs 229 indicating an upside of around 42 percent as compared to the prevailing stock prices.
Crompton Greaves Consumer Electrical Limited:
Crompton Greaves Consumer Electricals Limited is engaged in the process of manufacturing and marketing various consumer products in India. It operates under a wide range of segments which include Lighting & Electric Consumer Durables. Predominantly, the company operates in the domestic market within India.
The company’s shares closed at Rs 275 apiece on Friday. It has a market capitalization of Rs 17,607 crores.
HDFC Securities gave a ‘Buy’ recommendation on the stock with a target price of Rs 400 indicating an upside of around 45 percent as compared to the prevailing stock prices.
Written by Amit Madnani
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