Top stock picks: Brokerage recommendations on Tata Steel, Godrej Agrovet and more1 min read . Updated: 07 Jul 2021, 07:46 AM IST
- Sensex, Nifty may open flat on Wednesday as indicated by the SGX Nifty
Indian benchmark equity indices closed in red on Tuesday after touching record highs during day's trade. The Sensex reached a new high of 53129.37, before closing 0.04% lower on Tuesday. Meanwhile, the Nifty 50 crossed the 15,900-mark yet again only to close 0.10% lower.
Sensex, Nifty may open flat on Wednesday as indicated by the SGX Nifty.
Tata Steel: Edelweiss Securities in a note on July 5 said that the brokerage expects better days ahead for Tata Steel owing to profitable domestic operations and sustained turnaround in TSE in FY22. ‘’We expect TSE’s performance to get a leg up from contracts,’’ it said.
The brokerage has a ‘Buy’ stance on the stock with the target price of ₹1,300 apiece.
Godrej Agrovet: Brokerage firm Motilal Oswal Financial Services expects 76% sales and 85% Ebitda (earnings before interest, taxes, depreciation, and amortization) on compounded annual growth rate (CAGR) basis for the palm oil segment over FY21–23, 39% revenue CAGR over FY21–23.
It has a Buy rating on the stock with the target price of ₹758 per share.
Dr Reddy’s: Nomura Financial Advisory Services in a note on July 5 said that the annual filings further reiterate the strategic and operational transformation of Dr Reddy’s Laboratories (DRL_. If executed successfully, it could lead to stronger earnings growth and a higher valuation multiple, it added.
Nomura has a ‘Buy’ rating on the pharma stock with target price of ₹6,145 per share.
STFC: For Shriram Transport Finance Co. (STFC), Emkay Global Financial Services in a note said ‘’we are now incorporating the latest issuance (capital raising) into our estimates but are building in some stress on asset quality for FY22-23 due to recent lockdowns.’’
It has a ‘Buy’ stance on the stock with target price of ₹1,630 per share.
The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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