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12 Stocks To Buy Next Week As Recommended By Top Brokerage Houses
Markets are expected to continue their buoyancy on the back of buying from Foreign Portfolio Investors. Here are a list of 12 stocks that could be good stocks at the current levels according to brokerage houses.
12 stocks to buy for good upside
| Name of company | Target price | Brokerage call |
|---|---|---|
| Safari Industries | 1766 | Buy, Prabhudas Lilladher` |
| Amara Raja Batteries | 615 | Buy, Geojit |
| Manappuram Finance | 125 | Buy, Prabhudas Lilladher |
| Healthcare Global Enterprises | 22% from current levels | Buy, Sharekhan |
| Prestige Estates | 25% from current levels | Buy, Sharekhan |
| Narayana Hrudayalaya | 810 | Buy, Prabhudas Lilladher |
| Bharat Forge | 900 | Buy, Prabhudas Lilladher |
| Lumax Auto Technologies Ltd | 268 | Buy, Sharekhan |
| Coal India | 275 | Buy, Motilal Oswal |
| Hindalco | 525 | Buy, Motilal Oswal |
Nifty continues to remain strong
Nifty has rallied by more than 2500 points from June lows, and thus, has wiped out the entire decline for the calendar year till date and turned positive. Strong macro data, FII turning positive, steady earnings and healthy progress in monsoon have been some of the key factors supporting the market. Infact FIIs have been continuous buyer throughout the month of August so far, thus driving rally in the market. Softening of US inflation has further boosted market sentiments though Fed's hawkish stance is a cause of worry. Investors would now await India's inflation data that is due later today for future direction. Though the overall momentum is positive, market may take a pause over here and consolidate after the recent sharp rally. However, stock specific action would continue as we are in the last leg of results season.
Invest in small quantities
Investors are advised to invest in small quantities, given the way the markets have rallied in the last few weeks. At the current valuations, the Nifty is trading at fair valuations of 21 times, one year forward earnings. Investors who are willing to invest for the long-term will have to look selective stocks picks from the current levels. Selective investment would remain key, as most stocks have rallied sharply higher. Also, interest rates too are trending higher at this juncture.
Disclaimer
The stocks mentioned above are picked from the brokerage report of Motilal Oswal, Prabhudas Lilladher and Sharekhan. Investing in stocks is risky and investors must exercise all possible caution. Do not use the article as a basis for your complete investment decision. Greynium Information, the author and the brokerage houses is not responsible for losses, based on a decision taken after reading this article.
