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 lost 61 points or 0.18 percent to close at 33,856 on Tuesday.
Here are some of the stock recommendations by analysts for Wednesday:
1. Coal India
Citi recommends 'Neutral'
Target Price: Rs 320
Current stock price: Rs 294
About the company: Coal India produces and markets coal and coal products, as well as provides related consulting services.
Stock Performance: The stock has edged up 1 percent in an year and has a P/E ratio of 20 times forward earnings. Coal India has a market capitalization of Rs 1.8 trillion.
2. Vedanta
Citi recommends 'Buy'
Target Price: Rs 360
Current stock price: Rs 321
About the company: Vedanta mines, produces, and exports base metals. The company distributes metals such as zinc, iron ore, copper, silver, and aluminium, as well as operates power plants. Vedanta also operates in oil and gas sector.
Stock Performance: The stock has gained 35 percent in an year and has a P/E ratio of 17 times forward earnings. Vedanta has a market capitalization of Rs 1.2 trillion.
3. Voltas
Citi recommends 'Buy'
Target Price: Rs 744
Current stock price: Rs 639
About the company: Voltas offers engineering solutions for a wide spectrum of industries in areas such as heating, ventilation and air conditioning, refrigeration, electro-mechanical projects, textile machinery, machine tools, mining and construction equipment, materials handling, water management, building management systems, indoor air quality and chemicals.
Stock Performance: The stock has gained 67 percent in an year and has a P/E ratio of 42 times forward earnings. Voltas has a market capitalization of Rs 211 billion.
4. Motherson Sumi
Reliance Securities recommends 'Buy'
Target Price: Rs 343
Current stock price: Rs 318
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. Motherson Sumi Systems markets its products worldwide.
Stock Performance: The stock has gained 33 percent in an year and has a P/E ratio of 42 times forward earnings. Motherson Sumi has a market capitalization of Rs 671 billion.
5. S P Apparels
HDFC Securities recommends 'Buy'
Target Price: Rs 419
Current stock price: Rs 360
About the company: S.P. Apparels manufactures and exports apparels. The company offers knitted garments for infants and children. S.P. Apparels operates in India.
Stock Performance: The stock has lost 18 percent in an year and has a P/E ratio of 13 times forward earnings. S P Apparels has a market capitalization of Rs 9 billion.
Disclaimer: The recommendations provided by the research analysts are their own, and not that of the website or its management.
