SGX Nifty, an early indicator of the Nifty 50's trend in India, signals a positive start for the domestic markets after the benchmark Sensex rose 141 points or 0.41 percent to close at 34,297 on Thursday.
Here are some of the stock recommendations by analysts for Friday:
1. Tech Mahindra
ICICI Direct recommends 'Buy'
Target Price: Rs 623
Current stock price: Rs 610
About the company: Tech Mahindra Ltd. develops and markets computer software. The company markets software for telecommunications equipment manufacturers, telecom service providers, software vendors, and systems integrators.
Stock Performance: The stock has gained 23 percent in an year and has a P/E ratio of 17 times forward earnings. Tech Mahindra has a market capitalization of Rs 593 billion.
2. Ambuja Cements
IIFL recommends 'Sell'
Target Price: Rs 240
Current stock price: Rs 256
About the company: Ambuja Cements Limited manufactures cement in India. The company owns specially designed ships and terminals for bulk transportation of its products.
Stock Performance: The stock has gained 9 percent in an year and has a P/E ratio of 45 times forward earnings. Ambuja Cements has a market capitalization of Rs 503 billion.
3. Punjab National Bank
Macquarie maintains 'Underperform'
Target Price: Rs 128
Current stock price: Rs 128.25
About the company: Punjab National Bank provides financial services such as corporate and personal banking, industrial finance, agricultural finance, financing of trade and international banking.
Stock Performance: The stock has lost 9 percent in an year and has a P/E ratio of 43 times forward earnings. Punjab National Bank has a market capitalization of Rs 311 billion.
4. Union Bank of India
ICICI Direct recommends 'Sell'
Target Price: Rs 119
Current stock price: Rs 120
About the company: Union Bank provides banking services throughout India. The Company's activities include retail banking, commercial and personal banking, investment management, treasury and NRI services, cash management and assorted ATM facilities.
Stock Performance: The stock has lost 15 percent in an year and has a P/E ratio of 14.4 times forward earnings. Union Bank has a market capitalization of Rs 103 billion.
5. Zee Entertainment
Morgan Stanley maintains 'Overweight'
Target Price: Rs 610
Current stock price: Rs 570
About the company: Zee Entertainment Enterprises Limited produces and develops Hindi films, serials, game shows and children's programs.
Stock Performance: The stock has gained 11 percent in an year and has a P/E ratio of 25 times forward earnings. Zee Entertainment has a market capitalization of Rs 548 billion.
6. Apollo Hospitals
Credit Suisse upgrades to 'Outperform' from 'Neutral'
Target Price: Rs 1,450
Current stock price: Rs 1,207
About the company: Apollo Hospitals owns and operates hospitals in India. The Company also runs a 24-hour pharmacy network via over 120 outlets across India.
Stock Performance: The stock has lost 3 percent in an year and has a P/E ratio of 76 times forward earnings. Apollo Hospitals has a market capitalization of Rs 168 billion.
Disclaimer: The recommendations provided by the research analysts are their own, and not that of the website or its management.
