Share prices in India have fallen sharply in the last two weeks with the Sensex now at a near 10-week low. The Sensex has now fallen for a second straight week. Here are a few stocks that brokerages are recommending to buy.
Karvy Bets On Insecticide
Karvy Broking has suggested buying the stock of Insecticides India. The firm has set a target price of Rs 1073 on the stock. It sees a potential upside of around 45 per cent in the next 9-12 months.
Kotak Securities Bets on Axis Bank
Kotak Securities has put a buy rating on the stock of Axis Bank. The firm has set a target price of Rs 670 on the stock. "At CMP, stock trades reasonable at 13.6x its FY17E earnings and 2.5x its FY17E ABV," Karvy has said in its research report.
ICICI Direct Bets On Indian Bank
ICICI Direct has recommended buying the stock of Indian Bank for Rs 220. "At CMP, stock trades reasonable at 13.6x its FY17E earnings and 2.5x its FY17E ABV. We have tweaked the earnings estimate for FY16/17E and now expect earnings to grow 16.4% CAGR during FY14-17E, " the firm has said in its research report.
Motilal Oswal Bets On Cummins India
Motilal Oswal has a buy rating on Cummins India with a price target of Rs 1000. "The current market price of Rs 864, provides ample scope for an upside from the current levels," the firm has said in its research report.
Prahbudas Lilladher Bullish On Polaris
Prabhudas Lilladher is bullish on Polaris Consulting and has a buy on the stock. "We see favourable risk-reward, and upgrade Polaris to "BUY" (from "Accumulate") with a target price of Rs 240", says Prabhudas Lilladher research report.