“Markets maintained their upward journey led by a sharp rally in realty stocks after RBI paused on its rate hike decision that prompted traders to lap up realty stocks on hopes stable interest rates going ahead would revive the sentiment in the residential segment. While Sensex came close to hitting the 60,000 mark, the sluggish sentiment amid a cold response to the RBI outcome kept the rally under check.”
Amol Athawale, Deputy Vice President – Technical Analyst, Kotak Securities
Supporting the bullish trend showcased by the Indian stock markets today, listed below are 6 stocks with stock targets provided by various brokerages, the highest being an upside of 56 percent.
NCC Limited
NCC Ltd is an India-based company that is engaged in the construction sector primarily through its two major subsidiaries, NCC Urban and NCC Infra. NCC generates substantially all its sales from the Indian domestic market.
IDBI Capital has a ‘Buy’ call on the company with a target price of Rs 146 per share which represents an upside of 34 percent from the current levels of Rs 109.
Star Health and Allied Insurance Company Limited
Star Health and Allied Insurance Co Ltd is a health insurer in India. It focuses on the retail health and group health segments. The company distributes policies through individual agents and also includes corporate agent banks and other corporate agents. It covers three plans Health insurance, Travel insurance, and Accidental care insurance.
ICICI Securities has a ‘Buy’ call on the company with a target price of Rs 800 per share which represents an upside of 41 percent from the current levels of Rs 569.
Motilal Oswal Financial Services Limited
Established in 1987, Motilal Oswal Financial Services is a financing advisory firm based in Mumbai, India. The firm provides equity research, market research, technical and derivative analysis, and other research facilities for both institutional and retail investors.
ICICI Securities has a ‘Buy’ call on the company with a target price of Rs 900 per share which represents an upside of 42 percent from the current levels of Rs 633.
Hindware Home Innovation Limited
Hindware Home Innovation Ltd, operating in India, is engaged in manufacturing, selling and trading of building products, glass products, consumer products, plastic products and retail business. Its products portfolio includes Kitchen Ensemble, Water heaters, Air coolers, Water purifiers, Air purifiers and Window vents, among other products. Some of its brands are Hindware, Moonbow and Evok.
Nuvama has a ‘Buy’ call on the company with a target price of Rs 546 per share which represents an upside of 52 percent from the current levels of Rs 360.
PNB Housing Finance Limited
PNB Housing Finance Ltd is an India based housing finance company. It is engaged in the business of providing loans for the purchase, construction, repairs, and renovations of houses, flats, and commercial properties. The company also provides loans for commercial space, loan against property and loan for the purchase of residential plots. Geographically, it operates only in India. It generates revenue from Interest income and Fees and commission income.
Morgan Stanley has a ‘Buy’ call on the company with a target price of Rs 700 per share which represents an upside of 53 percent from the current levels of Rs 458.
FSN E-Commerce Ventures Ltd
FSN E-Commerce Ventures Ltd is a digitally native consumer technology platform, delivering a content-led, lifestyle retail experience to consumers. It has a diverse portfolio of beauty, personal care, and fashion products.
Morgan Stanley has a ‘Buy’ call on the company with a target price of Rs 206 per share which represents an upside of 56 percent from the current levels of Rs 132.
Written by Amit Madnani
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