Amid the rising selling pressure in the Indian stock markets, domestic brokerage firm SMC Global Securities has suggested four stocks- Larsen & Toubro Ltd, Cyient Ltd, Sun Pharmaceuticals Industries Ltd and Mangalam Cement Ltd - to bet amid the scarce opportunities to make money. The brokerage has picked the former two based on their sound fundamentals, while the latter two appear to be strong on the technical parameters. Here's what the brokerage has to say about these counters:
Larsen & Toubro | Buy | Target Price: Rs 4,270 | Upside: 18%
Larsen & Toubro (L&T) is an Indian multinational player engaged in EPC projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide. A strong, customer–focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for eight decades. L&T retains the focus on profitable execution of its robust order book in the backdrop of a relatively stable environment. The projects & manufacturing businesses of the company continue to perform well. Its new transformative investments in green energy, data centers, digital platforms and semiconductor design will, besides improving our Digital and Sustainability footprint, complement its current business portfolio. It remains committed to delivering a sustained performance of growth. It is well positioned to exploit the emerging opportunities across the diversified business portfolio and limit exposure on non-core businesses. Thus, it is expected that the stock may see a price target of Rs. 4270 in 8 to 10 months.
Sun Pharmaceutical Industries | Buy | Target Price: 1,970-1,975 | Stop Loss: 1,780
Sun Pharma has been maintaining its bullish momentum as prices are seen holding well above its 200-DEMA on the broader charts on daily and weekly time frames. In a recent past, the stock has formed a Double Bottom pattern around Rs 1,725 levels and bounced sharply thereon. Since then a prolong consolidation has been witnessed in the range of Rs 1,780-1,830 zone. Last week , the stock has once again picked a fresh bullish momentum as price has surpassed above its key resistance level of Rs 1,830. The positive divergences on secondary oscillators along with positive price action suggest next up move into the stock. Therefore, one can accumulate a stock in the range of Rs 1,850-1,860 levels for the expected upside of Rs 1,970-1,975 levels with stop loss below Rs 1,780 levels.
Cyient | Buy | Target Price: Rs 2,198 | Upside: 14%
Cyient is a leading pure-play engineering services provider in Everest group's engineering services. It maintains leadership across key sectors, including ER&D, digital engineering, aerospace, semiconductors, telecommunications, medical devices, industrial, and industry 4.0. in Zinnov Zones rankings. Cyient has been recognized as a product challenger in Gen AI globally by ISG. The management's focus to invest in scalable and high-growth areas would accelerate the overall growth profile of the company. Its pipeline for the year remains strong and new growth segments and sustainability delivered growth on YoY basis. Its margin improvement program continues to gain traction and it would translate into improved revenue realization and drive a sharp recovery of growth through the coming quarters. Thus, it is expected that the stock may see a price target of Rs 2,198 in 8 to 10 months.
Mangalam Cements | Buy | Target Price: Rs 1,120-1,125 | Stop Loss: Rs 880
Mangalam Cements managed to take support at its 200-DEMA in a recent past on daily charts and formed a triple bottom pattern there with prices gaining a fresh momentum above its key resistance level of Rs 880 after spending nearly two months in defined range. Last week once again a fresh breakout has been observed above the Rectangle pattern as stock has given breakout above Rs 970 levels with sudden spike seen in volume activity. Therefore, one can accumulate the stock in the range of Rs 970-980 levels for the upside target of Rs 1,120-1,125 levels with stop loss below Rs 880 levels