Analysts have recommended buying shares of Shaily Engineering Plastics Ltd., Colgate Palmolive (India) Ltd., and Maruti Suzuki India Ltd. among others.
Avani Bhatt, senior vice president of derivative research at JM Financial Services Ltd., Aditya Agarwala, head of research and investments at Invest4edu, and Chandan Taparia, head of technical and derivatives research at Motilal Oswal Financial Services Ltd. shared their insights with NDTV Profit.
These stock calls have the potential to generate upsides of up to 11%, according to them.
63 Moons Technologies
Bhatt has recommended buying 63 Moons for a target of Rs 975 per share, implying upside of 8.2% and keeping a stop loss of Rs 877. The stock has risen more than 100% in the last 12 months and nearly 9% in the last 30 days. It is trading Rs 174.25 lower than Rs 1,078.8, its highest level since February 2013.
Shaily Engineering
Shaily Engineering has a 'buy' recommendation from Bhatt for a target price of Rs 1,700 per share, implying an upside of 7.26%. In the last 12 months, the stock has risen nearly 300%. On Wednesday, it gained for a second consecutive session and closed 4.2% up at Rs 1,573.05.
Colgate Palmolive
Agarwala has also recommended to 'buy' Colgate Palmolive (India) Ltd. for a target of Rs 2,900 apiece, implying 5.6% upside and keeping a stop loss of Rs 2,730. The stock has risen 8.6% in the last 12 months.
Reliance Industries
Agarwala recommends buying Reliance Industries for a target of Rs 1,400 apiece, implying 11% upside and keeping a stop loss of Rs 1,200. The stock has been rising for two consecutive sessions. On Wednesday, it ended at its highest level since Dec. 16.
Maruti Suzuki
Taparia has advised to 'buy' Maruti Suzuki for a target price of Rs 12,400, implying 5.2% upside, and keeping a stop loss of Rs 11,575. The company's total sales in December rose 29% on-year to 1.78 lakh units, against the estimated 1.49 lakh units.
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