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Domestic benchmarks settled slightly lower on Thursday in a highly volatile trade. The 30-share BSE Sensex pack fell 143 points or 0.22 per cent to close at 64,832, while the broader NSE Nifty index moved 48 points or 0.25 per cent down to end the session at 19,395. India VIX, fear index, fell 0.49% to 10.98-level.
For November 10 (Friday), share market analysts from a few brokerages have assigned 'Buy/Accumulate' calls on RR Kabel, BHEL and Exide Industries. Check share price targets, analysis, investment rationale and other crucial details about these fundamental bets.
LTP: Rs 1,619 Analysts at Prabhudas Lilladher (PL) have given a 'Buy' call on RR Kabel shares with a target price of Rs 1,800. The stock has surged 35.14% in 2023 so far and in last six months.
"RR Kabel reported healthy revenue growth of 17.7% YoY in Q2FY24. The company may continue to benefit on account of strong brand with diverse product portfolio, well-structured capacity expansion plans, increasing dealers/distribution network and distribution-led export business," PL stated.
LTP: Rs 125.80 Nuvama Institutional Equities has given a 'Buy' call on the counter with a 12-month target price of Rs 150 per share. The stock has jumped 56.96% on a year-to-date (YTD) basis and 56.08% in six months.
"We expect BHEL's new thermal execution to pick up only from FY25 end/FY26 as reflected in our estimates. We factor in only 3GW/year of thermal OI over and above its base non-thermal OI of Rs 15,000–18,000 crore, leading to 82% EPS CAGR over FY23–26E. Order inflows surged 49% YoY to Rs 17,900 crore, taking the backlog to Rs 1.14 lakh crore as of Sep-23," Nuvama said.
LTP: Rs 268.50 Prabhudas Lilladher has placed an 'Accumulate' call for Exide Industries with a target of Rs 295. The scrip has gained 48.02% in 2023 and 42.63% in the past six months.
"The company is seeing growth in both automotive and industrial segment and YoY revenue growth in Q2 was volume driven. Li-ion cell plant is progressing well with homologation process underway, Rs15bn is already spent (out of Rs 4,500 crore outlay) and production is likely to start by FY25 end. Exide is in talks with customers and sees good demand for li-ion cells that are currently imported," Prabhudas Lilladher mentioned.
"The sentiment now favors a bearish bet as long as Nifty remains below 19,500. All rallies till 19,500 are likely to be sold into. On the lower end, support is placed at 19,300, below which a serious correction may happen in the market," said Rupak De, Senior Technical analyst at LKP Securities.
"Nifty Bank has remained sideways during the day as it sustained above the support at 43,500 while it failed to reach the crucial resistance of 44,000. Going forward, the trend is likely to remain sideways to positive as long as it sustains above 43,500. The index has been lacking momentum at the higher levels. A fall below 43,500 might signal a failure of the current trend. Below 43,500, the index might fall towards 43,000-42,800," De stated.
Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position.