Indian Bank, Cyient, Indian Hotels, Sasken Tech: 4 stock picks from SMC Global

Amid the rising selling pressure in the broader markets, domestic brokerage firm SMC Global Securities has suggested four stocks- Indian Bank, Cyient Ltd, Indian Hotels Co Ltd, Sasken Technologies Ltd- to bet amid the limited 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:

The Indian Hotels Company | Buy | Target Price: Rs 810-815 | Stop Loss: 680

Since last two months, the Indian Hotels Company has been consolidating in a broader range of Rs 650-720 with prices holding well above its key moving averages on daily and weekly intervals. Last week stock also marked its 52-week high of Rs 748.40. Technically, a fresh breakout has been observed into the stock above the consolidation phase with a sudden spike in volume activity. The positive divergences on secondary oscillators along with price action suggest further upside into the stock. Therefore, one can accumulate the stock in the range of Rs 730-740 for the expected upside of Rs 810-815 levels with stop loss below Rs 680 levels.

Indian Bank | Buy | Target Price: Rs 622 | Upside: 16%

Indian Bank has 5,856 domestic branches, out of which 1983 are Rural, 1532 are semi-urban, 1174 are urban & 1167 are in metro category. The bank has 3 overseas branches & 1IBU (Gift City Branch). It has 5217 ATMs & BNAs and 12,993 business correspondents. The bank has launched an array of digital products to facilitate customers for seamless and convenient banking experience. Healthy business growth along with improved asset quality and adequate liquidity auger well for the bank. Thus, it is expected that the stock will see a price target of Rs 622 in 8 to 10 months time frame

Sasken Technologies | Buy | Target Price: Rs 2,500-2,550 | Stop Loss: 1,75

On broader charts, Sasken Tech has been consolidating in a broader range of 1400-2000 from the last few months with prices seen hovering around its 200 days exponential moving average on daily interval. Last week a fresh breakout was observed into the stock after a series of prolonged consolidation. Technically stock has also given a fresh breakout above the Inverted head & shoulder pattern visible on daily charts. Therefore, one can accumulate the stock in the range of Rs 2,000-2,050 for the upside target of Rs 2,500-2,550 levels with stop loss below Rs 1,750 levels.

Cyient | Buy | Target Price: Rs 2,058 | Upside: 14%

Cyient has been recognized among the global top-10 pure-play engineering services providers in Everest Group's Engineering Services Top 50 ranking. The company 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 also been recognized as a Product Challenger in Gen AI globally by ISG. The management of the company has focused on investing in scalable and high-growth areas that 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 will see a price target of Rs 2,058 in 8 to 10 months’ time frame.