Reports attributed to Religare Broking list eight stock picks for Samvat 2083, with target prices implying upside from 12.2% to 54.1%. NDTV Profit and Business Today published the recommendations on Nov. 2; the estimates are based on reported target prices.
Business Today put Mahindra & Mahindra’s estimate at 54.1%, with a ₹4,377 target, and Glenmark Pharmaceuticals’ at 26%, with a ₹2,897 target. Indian Hotels Company and Tata Power each had a reported estimate of 22%, against targets of ₹990 and ₹421, respectively.
The other reported estimates were 17.6% for HCL Technologies, with a ₹1,680 target; 16.7% for Bajaj Finance, at ₹1,096; 16.5% for Larsen & Toubro, at ₹4,510; and 12.2% for Kotak Mahindra Bank, at ₹518.
NDTV Profit and LiveMint described the brokerage’s rationale as a focus on company-specific growth prospects and the possibility that earnings could exceed sector expectations.
The National Stock Exchange of India (NSE) lists Muhurat Trading for Sunday, Nov. 8, on Diwali Laxmi Pujan. LiveMint described the special session as a traditional occasion when some investors make symbolic purchases or review portfolios for the new Samvat year.
