3 days Ago
As the rising volatility continues to grip the headline indices, domestic brokerage firm SMC Global Securities has suggested four stocks- , , and - to bet amid the scarce opportunities to make money. The brokerage has picked the former two based on their solid fundamental parameters, while the latter two appear to be sound on the technical parameters. Here's what the brokerage has to say about these counters: The business of Axis Bank has increased 14 per cent YoY to Rs 20,42,576 crore by June 2024, driven by a 14 per cent surge in advances to Rs 9,80,092 crore.
Deposits rose 13 per cent to Rs 10,62,484 crore at end June 2024. The private lender is well capitalized with adequate liquidity buffers for future growth. Improving asset quality and strong position in payments and digital banking indicate future growth visibility.
Moreover, it continued on the path of becoming a resilient all-weather franchise, delivering higher growth across focused granular business segments. According to the management of the bank, the bank stayed focused on three core areas of execution of GPS strategy namely becoming a resilient, all-weather franchise, creating multiplicative forces to build competitive advantage and building for the future. Thus, it is expected that the stock will see a price target of Rs 1,367 in 8 to 10 months.
IndusInd Bank has been trading under pressure since the beginning of the year as the stock market reached its 52-week low of Rs 1,329.20 in the month of August. However, a sharp recovery has been witnessed into the prices thereon as once again momentum seen picking up above the 200 days exponential moving average on daily charts last week.
Technically, the stock has given a breakout above the falling trend line of the long-term bearish channel with signs of potential reversal hereon. Additionally, a fresh breakout has also been observed above the inverted head and shoulder pattern on short term charts. Therefore, one can buy the stock in a range of Rs 1,450-1,460 for the upside target of Rs 1,540-1,550 levels with stop loss below Rs 1,400 levels.
Zydus Life has strong capabilities across the spectrum of the pharmaceutical value chain. From formulations to active pharmaceutical ingredients and animal healthcare products to wellness products, Zydus has earned a reputation amongst Indian pharmaceutical companies for providing comprehensive and complete healthcare solutions. According to the management, sustained growth momentum across businesses along with enhanced profitability drove strong Q1 performance.
Execution success of differentiated pipelines in the US and outperformance of India Geography business were particularly noteworthy. With a focus on quality excellence, the company will continue to align processes and strengthen compliance. It is on course to achieve growth aspirations for FY25 and committed to investing in sustainable growth initiatives and innovative solutions for the future.
Thus, it is expected that the stock will see a price target of Rs 1,355 in 8 to 10 months. Gujarat Alkalies has been consolidating in a broader range of Rs 700-820 on broader charts while trend remains intact with a bullish move as stock can be seen holding well above its 200 days exponential moving average on daily charts. Last week a fresh breakout was observed on charts above the key resistance level of Rs 820 after a phase of prolonged consolidation of more than six months.
The momentum is supported by a substantial increase in trading volume, suggesting the potential for further price gains from hereon. Therefore, one can buy the stock in range of Rs 835-840 for the upside target of Rs 990-1000 levels with stop loss below Rs 740 levels..
