Produced by: Aseem Thapliyal
Domestic benchmarks on Monday resumed their upward run after Friday's crash. Headline index NSE Nifty closed 223 points or 1% higher at 22,643 level. Sensex jumped 941 points or 1.28% to end at 74,671. India VIX, fear index, surged 11.89% to 12.23-level.
For April 30 (Tuesday), market analyst from domestic brokerages have assigned 'Buy/accumulate' calls for IDBI Bank, Ultratech Cement and HCL Technologies shares. Check stock price targets, analysis, investment rationale and other crucial details about these stock bets.
Target price: Rs 111 Rating: Accumulate "We are now witnessing another breakout which resembles a bullish Cup and Handle pattern. Thus, we advise traders to accumulate the stock in the range of Rs 90–92 with a stop loss of Rs 81 (daily closing basis) for an upside target of Rs 111," said Mehul Jitendra Kothari, AVP, Technical Research, Anand Rathi Shares
Target price: Rs 11,332 Rating: BUY "Q4 Results First Cut, beat Prabhudas Lilladher estimates; strong operating performance aided by volumes. The stock trades at an enterprise valuation of 17.2x/14.1x FY25E/FY26E EBITDA. Maintain Buy," said Tushar Chaudhuri, Research Analyst, Institutional Equities, Prabhudas Lilladher.
LTP: Rs 1472 Rating: Accumulate "We are baking in USD revenue growth of 4.5% and 9.5% YoY with margin improvement of 10bps and 80bps for FY25e and FY26e, respectively. The stock is currently trading at 21x FY26e, we are assigning PE of 22x to FY26e with a target price of Rs 1,550. With that, we assume coverage on HCL Tech with an 'ACCUMULATE' rating," said Pritesh Thakkar, Research Analyst - Institutional Equities , Prabhudas Lilladher.
"Nifty is anticipated to venture into uncharted territory in the near future. Therefore, traders are advised to maintain a positive stance and view dips as buying opportunities. In this scenario, immediate support is likely to shift higher towards the 22400 mark, while the previous high zone around 22775 - 22800 is expected to serve as immediate resistance before the index heads towards the 23000 mark," said Rajesh Bhosale, Technical Analyst, Angel One.
Business Today provides stock market news for informational purposes only and that should not be construed as investment advice. Readers are encouraged to consult a qualified financial advisor before making any investment decisions.