UltraTech Cement, JSW Steel, ACC & Mankind: 4 largecap stocks SMC Global suggest to buy

As the Indian equity markets scale new heights, domestic brokerage firm SMC Global has shared four largecap stocks- JSW Steel Ltd, Mankind Pharma Ltd, UltraTech Cement Ltd and ACC 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:

UltraTech Cement | Buy | Target Price: Rs 11,400-11,500 | Stop Loss: Rs 9,500
UltraTech Cement experienced a decline and entered into a prolonged consolidation phase after reaching its 52-week high of Rs 10,526 in December 2023, and seen fluctuating within a broader range of Rs 9,500 to Rs 10,200. This consolidation was characterized by a lower high pattern on the weekly timeframe. Despite this, the stock managed to remain well above its 200-day exponential moving average on the daily timeframe. Last week, a fresh breakout was observed above the falling trend line of the long-term channel, accompanied by a rise in volume, suggesting potential further upside in the prices. Therefore, one can buy the stock in the range of Rs 10,200-10,250 levels for the upside target of Rs 11,400-11,450 levels with stop loss below Rs 9,500 levels.

JSW Steel | Buy | Target Price: Rs 1,059 | Upside: 16%
JSW Steet is the flagship company of the $23 billion JSW Group. Over the last three decades, it has grown from a single manufacturing unit to become India’s leading integrated steel company with a capacity of 29.7 MTPA in India and the USA. Its next phase of growth in India will take its total capacity to 43.5 MTPA by September 2027. The company has an established track record and according to the management of the company, India steel demand remains strong and is supporting prices of value-added products. Stable realisations, higher volumes, lower input prices, and cost efficiency measures would support FY25 performance. The completion of all the ongoing capex would increase production capacity to 37 million tonnes by the end of FY25. Thus, it is expected that the stock will see a price target of Rs 1,059 in 8 to 10 months’ timeframe.

ACC | Buy | Target Price: Rs 3,000-3,050 | Stop Loss: Rs 2,350
Recently, ACC experienced a sharp rally, rising from Rs 1,900 to Rs 2,700 in a short period. However, over the past three months, it has been trading lower, with prices getting stuck in a consolidation phase on the back of profit booking. Despite this, the broader charts remain positive, with the prices holding well above its 200-day exponential moving average on both daily and weekly intervals. Last week, fresh bullish momentum was observed on technical charts, as the stock's price surpassed the falling trend line of its downward sloping channel. Therefore, one can buy the stock in range of Rs 2,600-2,610 levels for the upside target of Rs 3,000-3,050 levels with stop loss below Rs 2,350 levels.

Mankind Pharma | Buy | Target Price: Rs 2,410 | Upside: 17%
Mankind Pharma operates in pharmaceuticals business and consumer healthcare business with its pan-India presence. It has 30 manufacturing facilities in India manufacturing a wide range of dosage forms, including tablets, capsules, syrups, vials, ampoules, blow fill seal, soft and hard gels, eye drops, creams, contraceptives and other over-the-counter products. It has 6 dedicated R&D facilities backed by more than 660 scientists. It has a distribution network, including close to 16,000 field forces and more than 13,000 stockists, across India providing access to quality pharmaceuticals across the country, including small towns and rural areas. Mankind Pharma is experiencing a positive trend, particularly in chronic disease medication. Their market share has climbed to an impressive 37.4 per cent, and the cardiac and anti-diabetic segment reached an all-time high in Q4FY2024. This momentum is expected to continue with plans for new drug launches and expansion into the higher-margin consumer healthcare market, signaling a bright future for Mankind. It is expected that the stock will see a price target of Rs 2,410 in 8 to 10-month timeframe.

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