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Domestic benchmarks settled in the red on Thursday, as gains in automobile and energy stocks countered losses in technology and pharma shares. The 30-share BSE Sensex pack fell 5 points or 0.01 per cent to close at 66,018, while the broader NSE Nifty index moved 19 points or 0.05 per cent down to end the session at 19,802. India VIX, fear index, dived 4.63% to 11.32-level.
For November 24 (Friday), share market analysts from a few domestic brokerages have assigned 'Buy' calls on Central Depository Services (India) Ltd or CDSL, Bajaj Auto and Star Health & Allied Insurance. Check share price targets, analysis, investment rationale and other crucial details about these fundamental bets.
LTP: Rs 1,799.90 Analysts from Nuvama Institutional Equities have given a 'Buy' call on CDSL shares with a target price of Rs 2,020. The stock has jumped 55.73% in 2023 so far and 82.04% in last six months.
"CDSL's key takeways included new listings, compulsory dematerialisation of private company shares to provide boost to issuer revenues; 87% share in incremental demat accounts and increased account opening enable the company to win across revenue lines; and increased retail participation in IPO is aiding growth of KYC and IPO charges," Nuvama said.
LTP: Rs 5921.85 Religare Broking has selected Bajaj Auto in its stock recommendations. It has given a 'Buy' call on the counter with a target price of Rs 5,944 per share. The multibagger stock has surged 65.57% on a year-to-date (YTD) basis and 31.02% in six months.
"We remain bullish on growth prospects of the company and estimate its revenue/EBITDA/PAT to grow at 19.3%/23.6%/22.2% CAGR over FY23-25E," Religare stated.
LTP: Rs 557.35 Geojit has included Star Health in its stock picks with a 'Buy' call for a target of Rs 653. The scrip has slipped 5.18% in 2023 so far and 5.29% in the past six months.
"The company is a market leader with a 33% market share in the retail health space and is well positioned to tap into the large addressable, and yet, underpenetrated healthcare segment," the brokerage said.
"Nifty remained range bound while encountering resistance around 19,850. On hourly charts, an ascending triangle is forming, suggesting a probable upside breakout. Sentiment is anticipated to stay sideways as long as it holds above 19,700. However, a drop below 19,700 might exert downward pressure on the Nifty. Resistance at the higher end is established at 19,850. A significant move beyond this level could trigger a rally towards 20,200 in the short term," said Rupak De, Senior Technical analyst at LKP Securities.
"Nifty Bank maintained its sideways momentum, crucially holding the support level at 43,300, which stands as a make-or-break point for the index. The immediate hurdle for further upside is positioned at 43,700, and a breakthrough above this level is anticipated to lead to additional gains toward 44,000, where substantial call writing is evident. Conversely, a breach of the support level may result in further corrective moves towards 42,800-42,700 levels," said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities.
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.