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 rose 139 points or 0.42 percent to close at 33,136 on Wednesday.
Here are some of the stock recommendations by analysts for Thursday:
1. IndusInd Bank
Deutsche Bank recommends 'Buy'
Target Price: Rs 2,050
Current stock price: Rs 1,731
About the company: IndusInd Bank is a Mumbai-based Indian new generation bank established in 1994. The bank provides a range of banking and financial services including wholesale banking, credit monitoring, risk management, tele-banking, investment banking and commercial lending.
Stock Performance: The stock has gained 26 percent in an year and has a P/E ratio of 38 times forward earnings. IndusInd Bank has a market capitalization of Rs 1 trillion.
2. Sun Pharma
IDFC Securities recommends 'Outperform'
Target Price: Rs 587
Current stock price: Rs 504
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 27 percent in an year and has a P/E ratio of 17 times forward earnings. Sun Pharma has a market capitalization of Rs 1.2 trillion.
3. Kotak Mahindra Bank
JP Morgan recommends 'Overweight'
Target Price: Rs 1,200
Current stock price: Rs 1,045
About the company: Kotak Mahindra Bank is a full service commercial bank. The bank offers a wide range of products and services including personal, commercial, and corporate banking services, including deposit accounts, loans, and investments.
Stock Performance: The stock has gained 22 percent in an year and has a P/E ratio of 35 times forward earnings. Kotak Mahindra Bank has a market capitalization of Rs 2 trillion.
4. Ceat
ICICI Direct recommends 'Sell'
Target Price: Rs 1,517
Current stock price: Rs 1,515
About the company: Ceat manufactures vehicle tires. The company produces cross-ply and radial tires for automobiles, construction equipment, scooters and motorcycles. Ceat also manufactures tubes and flaps.
Stock Performance: The stock has gained 22 percent in an year and has a P/E ratio of 35 times forward earnings. Ceat has a market capitalization of Rs 61 billion.
5. Strides Shasun
HDFC Securities recommends 'Buy'
Target Price: Rs 920
Current stock price: Rs 692
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 39 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.
Disclaimer: The recommendations provided by the research analysts are their own, and not that of the website or its management.
