SGX Nifty, an early indicator of the Nifty 50's trend in India, signals a positive start for the domestic markets after the benchmark Sensex climbed 303 points or 0.89 percent to close at 34,445 on Monday.
Here are some of the stock recommendations by analysts for Tuesday:
1. Ashok Leyland
JPMorgan recommends 'Overweight' rating
Target Price: Rs 160
Current stock price: Rs 136
About the company: Ashok Leyland manufactures medium and heavy duty commercial vehicles, including buses, tractors, dumpsters, haulage trucks, fire engines, and defense sector vehicles. The company also manufactures industrial & marine engines, ferrous castings and spare parts for automobiles.
Stock Performance: The stock has jumped 56 percent in an year and has a P/E ratio of 25 times forward earnings. Ashok Leyland has a market capitalization of Rs 400 billion.
2. Hero MotoCorp
Macquarie maintains 'Outperform' rating
Target Price: Rs 4,400
Current stock price: Rs 3,537
About the company: Hero MotoCorp designs, manufactures and distributes motorcycles. The company's products also include motorcycle parts and accessories.
Stock Performance: The stock has gained 16 percent in an year and has a P/E ratio of 18 times forward earnings. Hero MotoCorp has a market capitalization of Rs 706 billion.
3. Reliance Industries
Motilal Oswal Securities recommends 'Buy'
Target Price: Rs 967
Current stock price: Rs 938
About the company: Reliance Industries manufactures petrochemicals, synthetic fibers, fiber intermediates, textiles, blended yarn and polyester staple fiber. The company also owns a petroleum refinery cum petrochemicals complex in Jamnagar, India that produces a wide range of products such as gasoline, superior kerosene oil and liquefied petroleum gas.
Stock Performance: The stock has advanced 52 percent in an year and has a P/E ratio of 19 times forward earnings. Reliance Industries has a market capitalization of Rs 6 trillion.
4. Hindalco Industries
ICICI Direct recommends 'Buy'
Target Price: Rs 252
Current stock price: Rs 246
About the company: Hindalco Industries is an integrated aluminum producer and copper manufacturer. The company engages in bauxite mining, alumina refining, coal mining, captive power plants and alumnium smelting to downstream rolling, extrusions, and foils.
Stock Performance: The stock has gained 37 percent in an year and has a P/E ratio of 27 times forward earnings. Hindalco Industries has a market capitalization of Rs 556 billion.
5. Gujarat State Petronet
Deutsche Bank recommends 'Buy'
Target Price: Rs 255
Current stock price: Rs 201
About the company: Gujarat State Petronet owns and operates a natural gas transmission network in India. The company serves the State of Gujarat and most of its customers are natural gas end-users.
Stock Performance: The stock has gained 31 percent in an year and has a P/E ratio of 21 times forward earnings. Gujarat State Petronet has a market capitalization of Rs 113 billion.
Disclaimer: The recommendations provided by the research analysts are their own, and not that of the website or its management.
