The NSE Nifty 50 and BSE Sensex snapped a two-day losing streak at open on Tuesday, as heavyweights HDFC Bank Ltd. and Reliance Industries Ltd.'s share prices contributed most to gains. However, right after open, the benchmark indices traded lower, with the Nifty 50 down 0.52% at 24,589 as of 11:25 a.m.
The NSE Nifty Bank rose 0.52%, to record a high of 56,161.40. The sector was trading 0.36% lower as of 11:25 a.m.
Aditya Agarwala, head of research and investments at Invest4edu, has 'buy' calls on these stocks on Tuesday.
Indian Bank
Agarwala recommends buying Indian Bank stock with a target price of Rs 665. He advised to book losses at Rs 590.
Currently, Indian Bank shares are trading in the green at Rs 654 apiece after rising nearly 2%.
Out of 12 analysts tracking the company, 11 suggest buying it, and one recommends 'hold'. The average 12-month consensus price target implies an upside of 21.3%.
Paytm
Agarwala suggests buying Paytm operator One97 Communications Ltd. with a target price of Rs 980 and stop loss at Rs 845. Currently, Paytm shares are trading 1.45% higher at Rs 937.75 apiece.
Out of 19 analysts tracking the company, nine suggest buying the stock, seven suggest holding it and three have given a sell call. The average 12-month consensus price target implies an upside of 0.9%.
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