SGX Nifty, an early indicator of the Nifty 50's trend in India, signals a flat start for the domestic markets after the benchmark Sensex rose 73 points or 0.22 percent to close at 32,996 on Tuesday.
Here are some of the stock recommendations by analysts for Wednesday:
1. NGL Fine-Chem
ICICI Direct recommends 'Buy'
Target Price: Rs 465
Current stock price: Rs 405
About the company: NGL Fine-Chem manufactures pharmaceuticals for veterinary and human health. The company also produces intermediates.
Stock Performance: The stock has gained 7 percent in an year and has a P/E ratio of 18 times forward earnings. NGL Fine-Chem has a market capitalization of Rs 2.5 billion.
2. Dr. Reddy's Laboratories
ICICI Securities recommends 'Add'
Target Price: Rs 2,378
Current stock price: Rs 2,157
About the company: Dr. Reddy's Laboratories provides a complete range of pharmaceutical services. The company manufactures bulk drugs and formulations including verapamil and cephalexin.
Stock Performance: The stock has lost 17 percent in an year and has a P/E ratio of 30 times forward earnings. Dr. Reddy's has a market capitalization of Rs 358 billion.
3. Kotak Mahindra Bank
JP Morgan recommends 'Overweight'
Target Price: Rs 1,200
Current stock price: Rs 1,045
About the company: Kotak Mahindra Bank is a full service commercial bank. The bank offers a wide range of products and services including personal, commercial, and corporate banking services, including deposit accounts, loans, and investments.
Stock Performance: The stock has gained 22 percent in an year and has a P/E ratio of 35 times forward earnings. Kotak Mahindra Bank has a market capitalization of Rs 2 trillion.
4. Central Depository Services
HDFC Securities recommends 'Buy'
Target Price: Rs 425
Current stock price: Rs 283
About the company: Central Depository Services provides transmission of securities, dematerialisation, processing delivery, account opening, receipt instructions, holding, pledging, educational initiatives, settlements, and depository services to investors.
Stock Performance: The stock has a P/E ratio of 35 times forward earnings and a market capitalization of Rs 30 billion.
5. Bharti Infratel
Jefferies recommends 'Hold'
Target Price: Rs 300
Current stock price: Rs 334
About the company: Bharti Infratel is a telecommunication infrastructure company. The company operates and provides telecommunication tower and related infrastructure services in India.
Stock Performance: The stock has gained 13 percent in an year and has a P/E ratio of 25 times forward earnings. Bharti Infratel has a market capitalization of Rs 618 billion.
Disclaimer: The recommendations provided by the research analysts are their own, and not that of the website or its management.
