Five Stocks To Buy: IREDA, Mazagon Dock, Ircon, Ashok Leyland And Biocon
Analysts name their preferred stocks to buy from energy, defence, engineering, automotive and biopharmaceutical sectors.
Analysts have big names on their radar today, including Indian Renewable Energy Development Agency Ltd., 'Navratna' firm Mazagon Dock Shipbuilders Ltd., Ircon International Ltd., automotive industry company Ashok Leyland Ltd., and biopharmaceutical player Biocon Ltd. Some of these stocks have delivered over 228% returns in the last year.
Aditya Agarwala, head of research and investments at Invest4edu Pvt., Sudeep Shah, deputy vice-president and head of tech and derivatives research at SBICAP Securities Ltd., Ruchit Jain, vice president-technical research, Motilal Oswal Financial Services Ltd., and Technical Research Analyst Ayush Mehta share their stock calls for today.
Indian Renewable Energy Development Agency
IREDA received a 'buy' call from Agarwala of Invest4edu. The analyst recommends a target of Rs 220 per share on the stock, with stop loss pegged at Rs 187.
The stock has returned 228.65% in the past 12 months and 90.52% in the year-to-date. Relative strength index of the stock stood at 47.24.
Of the analysts tracking the stock, one recommends 'buy' and one suggests 'sell'. The consensus 12-month analysts' price target is Rs 280, implying a potential upside of 42%.
Mazagon Dock Shipbuilders
Agarwala recommends 'buy' on Mazagon Dock stock, with a target of Rs 4,900 per share, and stop loss at Rs 4,250.
The stock has risen 121.78% in the past 12 months and 98.92% in the year so far. RSI for the counter stood at 62.59.
Of the five analysts tracking the company, two recommend 'buy', two 'hold', and one 'sell'. The 12-month analysts' consensus price target is Rs 4,029.80, implying a potential downside of 9.8%.
Ircon International
Ircon International has a 'buy' recommendation at Rs 211 from Sudeep Shah of SBICAP Securities, with target price of Rs 225 per share and stop loss of Rs 205 per share.
The stock has risen 25.64% over the past year, and 21.14% in year-to-date terms. The RSI of the stock stood at 55.14.
Of the four analysts tracking the stock, one recommends 'buy', two suggest 'hold', and one 'sell'. The consensus 12-month price target is Rs 203.50, implying a potential downside of 3.6%.
Ashok Leyland
Ashok Leyland has a 'buy' call from Motilal Oswal Financial Services' Ruchit Jain. The analyst recommends buying the stock with a target price of Rs 250 and stop loss of Rs 228 apiece.
The stock has risen 31.24% in the past 12 months and 30.19% in year to date. The RSI for the counter is 64.19.
Of the analysts tracking the stock, 34 recommend 'buy', four suggest a 'hold', and eight have a 'sell' call. The 12-month analysts' consensus price target is Rs 251.24, implying a potential upside of 7%.
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Biocon
Biopharmaceutical company Biocon Ltd. has a 'buy' call from market analyst Ayush Mehta, who recommends a target of Rs 380, with stop loss marked at Rs 349.
The counter has yielded 53.86% returns in the past 12 months, and 34.73% in the year-to-date. RSI for the stock stood at 62.04.
Of the 18 analysts tracking the stock, nine recommend 'buy', two 'hold', and seven 'sell'. The consensus 12-month price target is Rs 344.47, implying a potential downside of 4%.
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