As the Indian equity market is hovering near its record levels, domestic brokerage firm SMC Global has shared four stocks- GR Infraprojects Ltd, Asahi India Glass Ltd, Titan Company Ltd and Century Plyboards (India) Ltd- to bet amid the scarce opportunities to make money. The brokerage has picked the former two based on its 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:
GR Infraprojects | Buy | Target Price: Rs 2,090 | Upside Potential: 25%
GR Infra is a civil construction player which has completed over 100 projects across 16 states. It has entered into power transmission hydro-tunnelling, multi-modal logistic park and roadway projects. It continues to tap on different opportunities emanating from the aggressive infra-growth plan of the government. The company has a robust order pipeline worth Rs 2.5 lakh crore from various businesses indicating future growth visibility. Recently, the company has entered into new business, which would drive future growth. With a healthy order book, the company is expected to report steady growth in the near term. It is expected that the stock will see a price target of Rs 2,090 in 8 to 10 months’ time frame.
Titan Company| Buy | Target Price: Rs 3,840-3,850 | Stop Loss: Rs 3,300
Titan recently experienced a steep correction, falling from Rs 3,800 levels towards Rs 3,200 levels on back of profit booking at higher levels. However, the stock has formed a Double Bottom pattern around the Rs 3,200 mark and regained a sharp upward momentum above its 200-day exponential moving average. Technically, a fresh breakout has been observed above the 'W' pattern, indicating positive price action in upcoming sessions. Alongside rising volumes accompanied with price momentum suggest a potential for further upside movement in the stock. Therefore, one can buy the stock in the range of Rs 3,500-3,530 levels for the upside target of Rs 3,840-3,850 levels with stop loss below Rs 3,300 levels.
Asahi India Glass | Buy | Target Price: Rs 723 | Upside Potential: 16%
Asahi India is a leading glass solutions provider, which is planning to undertake a capex of Rs 1,900-Rs 2,000 crore over FY25-26 for capacity expansion to be funded by a mix of debt and internal accrual. The Company is investing in third Float furnaces in Rajasthan (F3), modular and brownfield expansions in its auto glass business in Patan, Chennai and Bawal. The company has played a vital role in various glass segments such as construction, automotive, architectural, and consumer glass. It has witnessed steady growth over the years, driven by factors such as increased infrastructure development, rising urbanisation, and growing demand for sustainable and energy-efficient materials. According to the management of the company, the Indian glass industry itself is expected to experience strong growth in the coming years, primarily driven by the construction, automotive and solar sectors. With the government's focus on infrastructure development and smart city projects and sustainability, there will be increased demand for glass products for architectural applications. Thus, it is expected that the stock will see a price target of Rs 723 in 8 to 10 months’ time frame.
Century Plyboards | Buy | Target Price: Rs 775-780 | Stop Loss: Rs 645
Century Ply experienced a steep correction in the recent past, with prices dropping from Rs 850 to Rs 630 levels over the period of months. However, the stock has managed to find support around its 200-day exponential moving average on daily charts and has been consolidating within the broader range of Rs 630-700 levels for the past three to four months. Last week, the stock has once again regained a fresh bullish momentum, breaking out of consolidation above the key resistance level of Rs 700, indicating a potential upward move from hereon. Therefore, one can buy the stock in the range of Rs 695- 700 levels for the upside target of Rs 775-780 levels with stop loss below Rs 645 levels.
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