Hot stocks that brokerages in India are recommending investors to “buy”

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    Hot stocks that brokerages in India are recommending investors to “buy”
    Benchmark indices, the Sensex and the Nifty are trading at record levels. Stock prices have almost doubled and tripled in the last one year. Here are a few stocks that brokerages in India are betting on.

    Oil India

    K R Choksey has put a "buy" call on Oil India with a target price of Rs 764. ""We are positive on the stock in the light of regular diesel price hike, benefit of gas price hike, increasing production and cheap valuations. However, we believe that the net realizations for the company for FY15 will continue to be on the lower side with higher subsidy burden imposed on the upstream companies. At CMP of Rs 572, the stock is trading at 7.4X of its estimated PE FY16E. We recommend a Buy on the stock with a Price Objective (PO) of Rs 764," the company has said in its research report.

    Sadhbhav Engineering

    Emkay Global has put a "buy" call on Sadhbhav Engineering with a price target of Rs 249.

    "Well placed to fund equity requirement of Rs3bn for BOT, Given a large order backlog (stands at Rs83.4bn 3.5x revenue visibility), with improvement in EBITDA margins, has potential to generate further growth capital. Maintain Buy with a target price of Rs 249", says Emkay Global Financial Services Research.

    Va Tech Wa Bag

    K R Choksey has suggested buying the stock with a price target of Rs 1445.

    "At CMP Rs 1,338 the stock trades at 13.6x & 11.0x for FY15E & FY16E respectively. We used EV/ EBITDA methodology to value Wabag, assign 13.0x (Rs 216 crore, FY16E) to domestic business at par with domestic peers and 8.0x (Rs 90 crore, FY16E) to overseas business and derived a TP of Rs 1,445 with an upside potential of 8%. Buy the stock," says KRChoksey Research report.

    GoodReturns

    Read more about: sensex nifty
    Story first published: Saturday, August 23, 2014, 8:08 [IST]
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