Sensex touches record high at 62,272; Nifty nears 18,500
The BSE Sensex closed at an all-time high of 62,272.68 points, up 762.10 points or 1.24 per cent, on Thursday.
Stocks to watch today: Brokerage firm Angel One has given “buy” ratings for 15 stocks.
Top on the sequence is Federal Bank. It is one of India’s largest old-generation private sector banks. At the end of Q4 FY2022 the bank had advances of Rs 1.45 lakh crores and deposits of Rs 1.81 lakh crore, the brokerage said. The bank predominantly has a secured lending book which helped limit asset quality issues during the Covid-19 pandemic.
“Overall asset quality for the quarter improved in Q4FY22 which was in line with our expectations. We expect asset quality to improve further in FY2023 given normalization of the economy,” it said.
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The target price for Federal Bank is pegged at Rs 138, as against its current share price of Rs 121.
Further, Suprajit, Stove Kraft, AU Small Finance, HDFC Bank, Sona PLW Precis, PI Industries, Amber Enterprise, Sobha, Ramkrishna Forg, HCL Technologies, Jubilant Ingrev, Oberoi Realty, and Marico are the other stocks the brokerage gave “buy” ratings.
For Suprajit, the target price is seen at Rs 485, as against the current share price of Rs 345.
Suprajit is a supplier of automotive cables to domestic automobile manufacturers with a presence across both 2Ws and PVs.
It has over the years evolved from a single product/client company in India to have a diversified exposure which coupled with its proposition of low-cost player has enabled it to gain market share and more business from existing customers.
The brokerage said Suprajit has outperformed the Indian auto industry in recent years and the company believes that consolidation of vendors and new client additions would help in maintaining the trend of market share gains
For the rest companies, target prices are Rs 805, Rs 848 Rs 1,610 Rs 843 Rs 3,700 Rs 3,850, Rs 850, Rs 256, Rs 1,192, Rs 700, Rs 1,208, Rs 255, and Rs 600, respectively.
(with inputs from ANI)
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