Stocks To Buy: Hindalco, HCL Technologies, Saregama, Radico Khaitan and Motherson Among Top Recommendations | Check Share Price Target (image source: Today Technology Market ResearchDigital)
Stocks To Buy: Hindalco, HCL Technologies, Saregama, Radico and Motherson are among the top stocks to buy today from the brokerage recommendations. The share price targets with stop-loss suggestions can be good money-making ideas for stock market investors.
Here are the top stocks to buy from the brokerage recommendations with share price targets and stop-loss suggestions.
Stocks To Buy Today
Saregama Share Price Target
Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities has given a ‘BUY’ rating for entertainment company stock setting Saragama’s share price target range at Rs 460 to 500 per share. The analyst also recommended the stop loss at Rs 370 per share.
‘The stock has developed a strong base on the weekly chart, with recent dips being purchased aggressively, evident from high trading volumes. It is on the brink of a breakout from a daily chart perspective, challenging a significant resistance zone at 426. Additionally, the momentum indicator RSI has surpassed the 60 mark, indicating an acceleration of momentum in the near term. This points towards a potentially bullish phase if the stock successfully breaks past the resistance,’ said Kunal Shah.
Motherson Share Price Target
Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities has given a ‘BUY’ rating for automobile company stock setting Motherson share price target range at Rs 130 to 140 per share. The analyst also recommended the stop loss at Rs 118 per share.
‘The stock has exhibited a strong breakout on the daily chart, accompanied by a sharp increase in volumes, indicating robust buying interest. It has consistently found support at its 20-day moving average, currently at 118, which has served as a reliable cushion. Additionally, the momentum indicator RSI is nearing a breakout from a falling trendline, suggesting that momentum could accelerate in the near term. This combination of factors points to a potentially bullish scenario for the stock,’ said Kunal Shah.
Radico Khaitan Share Price Target
Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities has given a ‘BUY’ rating for stock setting Radico Khaitan share price target range at Rs 1,850 to Rs 1,960 per share. The analyst also recommended the stop loss at Rs 1,670 per share.
‘The stock is poised for a breakout following a significant consolidation phase, highlighted by volume-based buying from lower levels. It has demonstrated resilience by rebounding multiple times from its 20-day moving average, positioned at 1682, signaling strong support from bulls at these levels. The momentum indicator RSI is currently challenging a resistance level at 65; a breach above this could lead to a rapid ascent towards the targeted levels, indicating a potentially strong upward movement in the stock’s price,’ said Kunal Shah.
HCL Technologies Share Price Target
Yes Securities has given a ‘BUY’ rating for the tech stock setting HCL Technologies share price target at Rs 1,854 per share, the brokerage cited that HCL Tech’s (HCLT) operating performance has relatively been steady for the Consolidated business, while the Service business (IT + ER&D) has delivered remarkable performance over the last two years, up ~15 per cent YoY in CC terms each in FY22 and FY23. HCLT derives ~60 per cent of its revenues from verticals that are relatively insulated from current macro uncertainties. However, it also has a dependency of ~40 per cent on verticals that are currently facing significant challenges (Financial Service, Retail, and Telecom).
Hindalco Share Price Target
Yes Securities has given a ‘BUY’ rating for the stock setting Hindalco’s share price target at Rs 725 per share. The brokerage cited Hindalco’s earnings. Commanding more than 50 per cent of EBITDA earnings share, Novelis profitability is largely insulated from the LME Aluminium pricing risk. HIL is focused on expanding its downstream businesses, which are high margin markets in India as well as for Novelis. HIL is determined to improve its VAP product mix to gain higher margins, especially in its Indian Aluminium business. Going forward, HIL intends to add ~200 ktpa downstream capacity in India, a likely gamechanger for its Aluminium business.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Today Technology Market ResearchDigital suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
