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 99 points or 0.29 percent to close at 34,346 on Tuesday.
Here are some of the stock recommendations by analysts for Wednesday:
1. Music Broadcast
ICICI Direct recommends 'Buy'
Target Price: Rs 450
Current stock price: Rs 385
About the company: Music Broadcast provides radio broadcasting services. The company owns and operates radio stations and Internet music portals for range of music genres. Music Broadcast serves customers throughout India.
Stock Performance: The stock has a P/E ratio of 48 times forward earnings. Music Broadcast has a market capitalization of Rs 22 billion.
2. UPL
Motilal Oswal recommends 'Buy'
Target Price: Rs 945
Current stock price: Rs 721
About the company: UPL manufactures, distributes and exports off-patent agrochemicals. The company also manufactures phosphorus & phosphorus-based compounds and its products include herbicides, fungicides, insecticides, fumigants and rodenticides.
Stock Performance: The stock has gained 1.6 percent in an year and has a P/E ratio of 21 times forward earnings. UPL has a market capitalization of Rs 367 billion.
3. Cadila Healthcare
Reliance Securities recommends 'Buy'
Target Price: Rs 450
Current stock price: Rs 407
About the company: Cadila Healthcare is an Indian pharmaceutical company headquartered at Ahmedabad in Gujarat state of western India. It manufactures a large range of pharmaceuticals as well as diagnostics, herbal products, skin care products and other OTC products.
Stock Performance: The stock has a P/E ratio of 27 times forward earnings. Cadila Healthcare has a market capitalization of Rs 419 billion.
4. Tata Consultancy Services
ICICI Direct recommends 'Buy'
Target Price: Rs 3,270
Current stock price: Rs 3,042
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 25 percent in an year and has a P/E ratio of 23 times forward earnings. Tata Consultancy Services has a market capitalization of Rs 5.8 trillion.
5. Motherson Sumi Systems
HSBC recommends 'Buy'
Target Price: Rs 400
Current stock price: Rs 328
About the company: Motherson Sumi Systems manufactures and distributes automotive parts. The company offers products such as HVAC systems, air intake manifolds, highway vehicle cabins, air compressors, and pedal box assembly.
Stock Performance: The stock has gained 43 percent in an year and has a P/E ratio of 44 times forward earnings. Motherson Sumi has a market capitalization of Rs 694 billion.
Disclaimer: The recommendations provided by the research analysts are their own, and not that of the website or its management.
