SGX Nifty, an early indicator of the Nifty 50's trend in India, signals a weak start for the domestic markets after the benchmark Sensex plunged 252 points or 0.76 percent to close at 32,923 on Monday.
Here are some of the stock recommendations by analysts for Tuesday:
1. Shilpa Medicare
Motilal Oswal recommends 'Buy'
Target Price: Rs 749
Current stock price: Rs 490
About the company: Shilpa Medicare produces and exports active pharmaceutical ingredients, fine chemicals, intermediates, herbal products, and specialty chemical products.
Stock Performance: The stock has lost 24 percent in an year and has a P/E ratio of 35 times forward earnings. Shilpa Medicare has a market capitalization of Rs 39 billion.
2. Federal Bank
Reliance Securities recommends 'Buy'
Target Price: Rs 150
Current stock price: Rs 90
About the company: Federal Bank operates branches and regional offices throughout India. The bank offers a wide range of financial services, including merchant banking, international banking and foreign exchange, among others.
Stock Performance: The stock has gained 5 percent in an year and has a P/E ratio of 18 times forward earnings. Federal Bank has a market capitalization of Rs 179 billion.
3. HCL Tech
CLSA recommends 'Buy'
Target Price: Rs 1,170
Current stock price: Rs 926
About the company: HCL Technologies provides software development and related engineering services. The group's technologies utilize a variety of technologies, including Internet and e-commerce, networking, internet telephony, embedded software, among others.
Stock Performance: The stock has gained 9 percent in an year and has a P/E ratio of 15 times forward earnings. HCL Tech has a market capitalization of Rs 1.3 trillion.
4. Strides Shasun
HDFC Securities recommends 'Buy'
Target Price: Rs 920
Current stock price: Rs 696
About the company: Strides Shasun operates as a pharmaceutical company. The company provides research and development of biotherapeutic drugs and devices including biosimilars, biobetters, novel formulations, and drug loaded devices.
Stock Performance: The stock has lost 40 percent in an year and has a P/E ratio of 14 times forward earnings. Strides Shasun has a market capitalization of Rs 62 billion.
5. Bharti Infratel
Jefferies recommends 'Hold'
Target Price: Rs 300
Current stock price: Rs 334
About the company: Bharti Infratel is a telecommunication infrastructure company. The company operates and provides telecommunication tower and related infrastructure services in India.
Stock Performance: The stock has gained 13 percent in an year and has a P/E ratio of 25 times forward earnings. Bharti Infratel has a market capitalization of Rs 618 billion.
Disclaimer: The recommendations provided by the research analysts are their own, and not that of the website or its management.
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