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 declined 286 points or 0.84 percent to close at 34,010 on Friday.
Here are some of the stock recommendations by analysts for Monday:
1. Multi Commodity Exchange of India
Motilal Oswal recommends 'Buy'
Target Price: Rs 1,100
Current stock price: Rs 742
About the company: Multi Commodity Exchange of India Limited is an independent and de-mutualized exchange. The bourse has permanent recognition from the Indian government for facilitating online trading, clearing, and settlement operations for commodity futures markets across the country.
Stock Performance: The stock has lost 33 percent in an year and has a P/E ratio of 30 times forward earnings. MCX has a market capitalization of Rs 37 billion.
2. Tata Consultancy Services
manasjaiswal.com recommends 'Buy'
Target Price: Rs 3,050
Current stock price: Rs 2,933
About the company: Tata Consultancy Services, a division of Tata Sons Limited, is a global IT services organization that provides a comprehensive range of IT services to its clients in diverse industries.
Stock Performance: The stock has gained 24 percent in an year and has a P/E ratio of 22 times forward earnings. TCS has a market capitalization of Rs 5.6 trillion.
3. Glenmark Pharmaceuticals
Nomura maintains 'Buy'
Target Price: Rs 825
Current stock price: Rs 521
About the company: Glenmark Pharmaceuticals develops generic drugs for inflammation, metabolic disorders, and pain.
Stock Performance: The stock has lost 45 percent in an year and has a P/E ratio of 16 times forward earnings. Glenmark Pharmaceuticals has a market capitalization of Rs 147 billion.
4. Century Textiles & Industries
manasjaiswal.com recommends 'Sell'
Target Price: Rs 1,180
Current stock price: Rs 1,195
About the company: Century Textiles manufactures cement, cotton textiles and cotton yarn. It also makes denim, shirts, suits, fabrics and dress materials, among others.
Stock Performance: The stock has advanced 30 percent in an year and has a P/E ratio of 127 times forward earnings. Century Textiles has a market capitalization of Rs 133 billion.
5. United Spirits
Kotak Securities recommends 'Buy'
Target Price: Rs 3,450
Current stock price: Rs 3,245
About the company: United Spirits manufactures and distributes a variety of alcohols and spirits, including whiskey, brandy and rum. The company's well known brands include "McDowell's No. 1 Whiskey," "McDowell's No. 1 Brandy," "McDowell's Diplomat Whiskey" and "McDowell's Signature Whiskey."
Stock Performance: The stock has gained 37 percent in an year and has a P/E ratio of 459 times forward earnings. United Spirits has a market capitalization of Rs 471 billion.
Disclaimer: The recommendations provided by the research analysts are their own, and not that of the website or its management.
