ICICI Bank, Ipca Labs, LTTS & Bajaj Consumer: SMC Global shares target prices for these 4 stocks

Amid the rising volatility in Indian stock markets, domestic brokerage SMC Global Securities has suggested four stocks- Ipca Laboratories Ltd, Bajaj Consumer Care Ltd, ICICI Bank Ltd and L&T Technology Services 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 solid on the technical parameters. Here's what the brokerage has to say about these counters:

Ipca Laboratories | Buy | Target Price: Rs 1,670 | Upside Potential: 25%

Ipca Labs is a multinational pharma company, which produces theobromine, acetylthiophene, and p-bromotoluene as active pharmaceutical ingredients (APIs). Ipca sells these APIs and their intermediates globally. It comprises 21 marketing divisions focusing on key therapeutic segments with a portfolio of about 165 brands. 5 formulation brands of Ipca are featured in the list of 300 top selling formulation brands in the country. It is doing well and expects Ebitda margins to remain stable to 18 per cent going forward. A healthy product mix and raw material cost optimization likely to improve the financial position of the company. Strong growth in the domestic formulation business with increased opportunities in the API space and strong geographical presence would support earnings. Thus, it is expected that the stock will see a price target of Rs 1,670 in 8 to 10 months.

ICICI Bank | Buy | Target Price: Rs 1,265-1,270 | Stop Loss: Rs 1,130

ICICI Bank has marked its 52 week high of Rs 1,257.80 in month of July, but since then profit booking at higher levels kept the prices under pressure as the stock can be seen retracing back towards Rs 1,160 levels with formation of lower high pattern on daily interval. However, the last stock took support and once again showed a fresh bullish momentum with breakout seen above the downward sloping line of declining channel. The positive divergence on secondary oscillators supports the breakout and points towards fresh Bullish momentum into the prices. Therefore, one can buy the stock in range of Rs 1,180-1,185 levels for the upside target of Rs 1,265-1,270 levels with stop loss below Rs 1,130 levels.

Bajaj Consumer Care | Buy | Target Price: Rs 326 | Upside Potential: 19%

Bajaj Consumer is a leading FMCG brand, which brings high-quality hair care and skin care products to consumers across the world. Bajaj Consumer Care has a pan-India presence with a network of over 200,000 retailers and distributors. It also has a sizable presence on online horizontal marketplaces. Its loyalty programs continue to do well, and now it has reached about 12,000 outlets in Q1. This initiative along with increasing retail outlets would remain a focus area for the company in the coming period, as it has been for the last 2 years. Its implementation of Project Aarohan would have a positive impact on its general trade business going forward. With organized trade and international business continues to scale up as per plans. Its strategic objectives of broad basing of channels and geographies are well on track. Its diversification journey continues well with scaling up of products under the Bajaj Brands in hair oils and excellent growth and planned expansion in Almond Drop hair and skin care range. Thus, it is expected that the stock will see a price target of Rs 326 in 8 to 10 months.

L&T Technology Services | Buy | Target Price: Rs 5,800-5,850 | Stop Loss: Rs 4,800

Recently, LTTS has experienced a renewed momentum, above its 200-day exponential moving average (DEMA) and since then, it has been consolidating in a broader range of 4800-5200 levels, consistently staying above the 200 DEMA on a daily basis. Technically, the stock has established a Triple Bottom pattern around the Rs 4,800 level and has recently surged past the significant resistance level of Rs 5,200. This upward movement is supported by a substantial increase in trading volume, suggesting the potential for further price gains. Therefore, one can buy the stock in the range of Rs 5,200-5,210 levels for the upside target of Rs 5,800- 5,850 levels with stop loss below Rs 4,800 levels.

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