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 declined 300 points or 0.88 percent to close at 34,746 on Monday.
Here are some of the stock recommendations by analysts for Monday:
1. Steel Strips Wheels
Axis Securities recommends 'Buy'
Target Price: Rs 1,180
Current stock price: Rs 1,055
About the company: Steel Strips Wheels manufactures single piece steel wheel rims for scooters, passenger cars, utility vehicles and tractors.
Stock Performance: The stock has jumped 53 percent in an year and has a P/E ratio of 24 times forward earnings. Steel Strips Wheels has a market capitalization of Rs 16 billion.
2. Godrej Properties
HSBC recommends 'Buy'
Target Price: Rs 825
Current stock price: Rs 768
About the company: Godrej Properties is a real estate development company.
Stock Performance: The stock has surged 110 percent in an year and has a P/E ratio of 80 times forward earnings. Godrej Properties has a market capitalization of Rs 166 billion.
3. Zee Entertainment Enterprises
Independent analyst Kunal Bothra recommends 'Sell'
Target Price: Rs 538
Current stock price: Rs 552
About the company: Zee Entertainment produces and develops Hindi films, serials, game shows and children's programs. The company also purchases rights to Hindi films, serials and other programs from their producers on a contract basis.
Stock Performance: The stock has gained 9 percent in an year and has a P/E ratio of 24 times forward earnings. Zee Entertainment has a market capitalization of Rs 530 billion.
4. Sun Pharma
Credit Suisse recommends 'Overweight'
Target Price: Rs 640
Current stock price: Rs 548
About the company: Sun Pharmaceutical Industries manufactures and markets pharmaceuticals for domestic and international distribution. The company's pharmaceutical portfolio includes drugs in the areas of diabetes, cardiology, neurology, psychiatry and gastroenterology.
Stock Performance: The stock has lost 19 percent in an year and has a P/E ratio of 19 times forward earnings. Sun Pharma has a market capitalization of Rs 1.3 trillion.
5. Vedanta
Chart Advise recommends 'Sell'
Target Price: Rs 310
Current stock price: Rs 315
About the company: Vedanta mines, produces, and exports base metals. The company distributes metals such as zinc, iron ore, copper, silver, and aluminium, as well as operates power plants. Vedanta also operates in oil and gas sector.
Stock Performance: The stock has gained 26 percent in an year and has a P/E ratio of 17 times forward earnings. Vedanta has a market capitalization of Rs 1.1 trillion.
Disclaimer: The recommendations provided by the research analysts are their own, and not that of the website or its management.
