Markets are exhibiting a more steady trend after witnessing immense volatility in the last few days. Here are 4 stocks that brokerages are bullish on keeping in mind a medium to long term perspective.
Motilal Oswal bullish on stock
Motilal Oswal is bullish on Sun Pharma and has set a target of Rs 781. The stock is currently trading at Rs 570 on a face value of Re 1.
"The stock trades at 26.6x FY14E and 23.0x FY15E core EPS. We value SUNP's core business at INR682/share (27x FY15E), we add Rs 28/share for the Doxil opportunity and INR8/share for other Para IV opportunities to arrive at a target price of Rs 718/share, an upside of 24 percent from current levels. Reiterate Buy," says the Motilal Oswal research report.
Emkay Global bullish on stock
Emkay Global is bullish on Amar Raja Batteries and has recommended a buy rating on the stock with a target of Rs 380. The firm cites strong financial performance, market shares gian to continue, new opportunities and capex as one of the prime drivers for the stock.
Way2Wealth has recommended buying Kesoram industries, purely as a technical play. "The stock seems to have completed its wave E of the wedge pattern with a slight throw under in its wave E. Now, since it has bounced back into the wedge pattern, the probability of a retracement of the entire correction is quite high. A minimum of 23.6% retracement level can get it to 166.40 levels. However, before reaching to the retracement level it has two minor hurdles at 01.50 and 134.30 i.e. the wave D top. On the lower side it seems to have started wave III up of A and in that case it shouldn't break the swing low of 55, however 50 is the ultimate support level and that is also our stop loss for the trade," the firm has stated.
ICICI Direct sees fair value at Rs 195.
ICICI Direct has recommended Bajaj Electricals with a fair value of Rs 195.
"We expect the E&P segment to narrow its losses in FY14 and start contributing to EBITDA in FY15 by executing high margin projects. It will help reduce working capital requirements with improving return ratios, going forward. Our SOTP valuation suggests a fair value of Rs 195, " the firm has stated.