2 Tata Stocks That Are On The “Buy” List Of Brokerage Houses

Here are a list of 2 stocks that are on the buy list of top broking houses. One of these is a technical "buy" call, while the other is more of a fundamental buy call. Let's take a look at the two stocks recommended by Prabhudas Lilladher and the other by Anand Rathi.

Buy the stock of Tata Power

"After a long time, Tata Power current market price Rs 203 comes on our radar, as the stock is coming out of a downward channel pattern with a positive candle. The stock has witnessed decent erosion from 250 levels, bottoming out near 180 levels, gradually indicating improvement in the bias. Currently, a positive candle pattern indicates strength and has the potential to rise further in the coming days. With the RSI also going strong, it has indicated a trend reversal to signal a buy. We suggest buying this stock for a short-term upside target of 217 (200 DMA) and a long-term target of 235, keeping the stop loss at 190," says Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt. Ltd

The stock of Tata Power was last trading at Rs 203.65

Buy Indian Hotels, says Anand Rathi

In a more fundamental call, broking firm Anand Rathi has recommended buying the stock of Indian Hotels with a price target of Rs 425, the broking firm has said. Indian Hotels reported strong, 30.2%+, revenue growth in FY23 (from FY20), 31.1% EBITDA margins, against 21.7% in FY20 and record, Rs10bn PAT (its highest). That strong performance would endure through FY24 as well. "We believe that the current cycle in India is about domestic demand looking at a considerable upswing even as global macros are uncertain. The momentum of overall travel will improve in every which way as various events incl. IPL, G20, cricket world cup, etc., would ensure ARRs and occupancies persist. With strategically located properties and sharper focus on an asset-light model, Indian Hotels is poised to benefit. We retain our Buy on the stock, with a higher 12-month target price of Rs425 (earlier Rs400) on a sum-of-parts basis, valuing it at 23x consolidated FY25e EBITDA," the brokerage has said.

The stock of Indian Hotels was last seen changing hands at Rs 356.50.

Disclaimer

The stocks have been picked from the brokerage report of Prabhudas Lilladher and Anand Rathi. Greynium Information Technologies Pvt Ltd and the author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision. The above article should not be construed as a buy recommendation from our end, as we have just provided information based on the brokerage report.