Stock Recommendations Today: Experts' Views On Canara Bank, Oil India, Tata Steel, Ugro Capital, Wockhardt
Here's what Swati Hotkar, Assistance Vice President, Technical Research from Nirmal Bang and Hem Securities' Senior Research Analyst Astha Jain have to say about Canara Bank, Oil India and more.

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Should you buy Tata Steel Ltd. at the current level? Are you curious about likely performance of Ugro Capital Ltd., Wockhardt Ltd., and Oil India Ltd.? Experts share their valuable insight on these.
Read in the article what Swati Hotkar, Assistance Vice President, Technical Research from Nirmal Bang and Hem Securities' Senior Research Analyst Astha Jain have to say about Canara Bank, Oil India Ltd., Tata Steel, Ugro Capital, Wockhardt.
Tata Steel
Swati Hotkar: The view is positive on Tata Steel Ltd. at the current level. The stock has witnessed a sharp correction for almost three to four months. The stock has corrected from Rs 182 to Rs 130.
After such correction, there's expected to be some sort of bounce–back rally towards Rs 165–170. Hence, at the current levels, the risk–reward ratio is favourable because all the three to four parameters on the technical are on the positive. One can take a long position on Tata Steel.
"However, it's not suggestable to buy 100%, maybe 20–30% can be bought at the current market price."
Canara Bank
Astha Jain: The performance in the second quarter is reasonable. Interest margin was decent. After observing all the fundamental factors, Hem Securities is recommending that Canara Bank is a good 'buy'.
The brokerage is positive on the banking sector as a whole. The target is at Rs 120–130.
Ugro Capital
Astha Jain: The most important part is that they have a strong asset under management growth because of the branch addition. The only dent in the profitability is the higher credit costs. Hem Securities believes that the company is on track to deliver a sustained growth in near future.
"Our expectation is based on the strong operating leverage which Ugro Capital has. There's also a slight improvement in the funding cost."
"We're recommending this counter (stock). The buy on dips strategy can be applied. Our price target is around Rs 280–290 odd levels."
Wockhardt
Astha Jain: The stock is floating at Rs 1,400–1,440 odd level. As far as the fundamentals are concerned, Hem Securities is positive on the counter.
"I'm recommending a hold on this. Initially, the price target can be set at Rs 1,500–1,550 level."
The second quarter results were pretty decent. Going forward, Hem Securities is expecting the margin to improve. On the basis of a strong financial performance, the counter can be recommended.
Oil India
Swati Hotkar: Nirmal Bang Institutions' view is little bit cautious on the stock as well as the sector. The counter is trading near oversold zone. There's some support forming at Rs 440 and Rs 450 levels. Up to that level, market participants can see some dips. Unless the stock doesn't give a breakout of Rs 520–550 levels, there will not be a major pullback.
"At the current level, you should hold on to any dips to Rs 440 or so."
Disclaimer: The views and opinions expressed by the investment advisers on NDTV Profit are of their own and not of NDTV Profit. NDTV Profit advises users to consult with their own financial or investment adviser before taking any investment decision.