SGX Nifty, an early indicator of the Nifty 50's trend in India, signals a weak start for the domestic markets after the benchmark Sensex declined 236 points or 0.69 percent to close at 33,774 on Monday.
Here are some of the stock recommendations by analysts for Tuesday:
1. Adani Ports & Special Economic Zone
CLSA recommends 'Buy'
Target Price: Rs 505
Current stock price: Rs 393
About the company: Adani Ports operates a shipping port on the west coast of India. The company provides cargo handling, transportation, storage, logistics, and evacuation services to energy, railway, thermal power generation and transmission, agricultural, and logistics industries.
Stock Performance: The stock has gained 32 percent in an year and has a P/E ratio of 21 times forward earnings. Adani Ports has a market capitalization of Rs 815 billion.
2. Gateway Distriparks
HSBC recommends 'Buy'
Target Price: Rs 230
Current stock price: Rs 198
About the company: Gateway Distriparks provides integrated logistics services both in domestic and international areas. The company offers cargo loading and unloading, transportation, and cargo storage management services to shipping lines, freight forwarders, and buying houses.
Stock Performance: The stock has lost 20 percent in an year and has a P/E ratio of 29 times forward earnings. Gateway Distriparks has a market capitalization of Rs 22 billion.
3. Asian Paints
Sharekhan maintains 'Buy'
Target Price: Rs 1,234
Current stock price: Rs 1,120
About the company: Asian Paints manufactures a wide range of decorative paints, varnishes, enamels, and black & synthetic resins. The company, through its subsidiaries, also manufactures specialty industrial chemicals and vinyl pyridine latex products which are used in the manufacture of rubber tires.
Stock Performance: The stock has advanced 16 percent in an year and has a P/E ratio of 55.4 times forward earnings. Asian Paints has a market capitalization of Rs 1 trillion.
4. ACC
Sharekhan recommends 'Buy'
Target Price: Rs 1,794
Current stock price: Rs 1,633
About the company: ACC manufactures a range of cements and blended cements and owns cement plants throughout India. The company provides turnkey and application consulting services for setting up and operating cement plants and refractories.
Stock Performance: The stock has advanced 13 percent in an year and has a P/E ratio of 33 times forward earnings. ACC has a market capitalization of Rs 307 billion.
5. Varun Beverages
CLSA recommends 'Buy'
Target Price: Rs 885
Current stock price: Rs 648
About the company: Varun Beverages operates as a holding company. The company, through its subsidiaries, produces non-alcoholic beverages.
Stock Performance: The stock has gained 61 percent in an year and has a P/E ratio of 55 times forward earnings. Varun Beverages has a market capitalization of Rs 118 billion.
Disclaimer: The recommendations provided by the research analysts are their own, and not that of the website or its management.
