CLSA downgraded Bajaj Auto to 'Underperform' but revised its target price on the stock upward to Rs 6,382 against Rs 5,670 earlier. It lowered its target price on Eicher Motors to Rs 4,129 from Rs 4,252.
In the case of ONGC, the stock traded at a PE of 4.5 times against a 10-year average of 8 times. At Tuesday's close, the scrip needed a 56 per cent rally to revisit its all-time high of Rs 314.67 hit in June 2014.
TCS is consolidating sideways on the hourly time frame, and is forming a potential Cup and Handle formation on the daily chart. A recent rebound from the 100 SMA level suggests a continued bullish momentum.
Top stock picks for today: "The ongoing rally in domestic stocks may continue. Support for benchmark Nifty could be seen in the 20,400-20,500 zone. Till the mentioned support levels hold, one can expect a higher target of 21,000 for the index," Akshay Bhagwat told Business Today TV.
Top stock picks for today: From the defence space, the market expert suggested Bharat Dynamics Ltd. "Support on thec ounter could be seen at Rs 1,150. One can expect Rs 1,450-1,500 levels in the coming days," Chaturmohta stated.
Top stock picks for today: "Tata Power expects its revenue and EBITDA to be doubled by FY27. I think it will be more than double. If a company can double in 4 years, then its 20 per cent CAGR (Compounded annual growth rate). If it is doing the same in 3 years, then it is 25 per cent CAGR," Prabhakar told BT TV.
ICICI Bank is now showing signs of a revival after undergoing through a shallow correction in July, where the prices declined from the high of Rs 1,008 to all the way down to Rs 899.
Persistent Systems has not seen any major ramp-downs in the past couple of quarters, reflecting stable TCV to revenue leakage, it while noting that the improvement is not material.
Tata Steel, JSPL: CLSA said Chinese steel spreads have corrected to $100 per tonne, the lowest in at least the past 15 years, driven by a recent uptick in iron ore and coal prices.
Suzlon Energy shares surged 298 per cent to Rs 42.27 on Friday from Rs 10.61 level at the end of December 2022. The Suzlon Energy stock has recently been added to MSCI Global Standard index.
Rail Vikas Nigam Ltd soared 332 per cent, Ircon International Ltd surged 260.75 per cent while Indian Railway Finance Corporation Ltd (IRFC) jumped 245 per cent since last Diwali.
Diwali 2023: The broking firm said investor should focus on sectors such as consumption, auto, BFSI, real estate, travel & tourism, engineering & cap goods, telecom and fast-growing sectors like Renewables, EMS etc.
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