The Sensex has fallen for 4 straight days in a row as investors fret over the outcome of the Bihar elections. Worries that the US Fed would move to hike interest rates this year, has added to selling pressure. Quarterly numbers have been below expectations with banking stocks being hammered. Here are 3 shares that brokerages are recommending investors to buy.
ICICI Direct has a hold on the shares of MindTree after the company reported a good set of quarterly numbers.
ICICI Direct has set a price target of Rs 1600 on the stock in the necxt one month.
Axis Bank has fallen sharply in the last few trading sessions losing almost 10 per cent. Investors have not been too happy over the quarterly results of the company. However, Religare is bullish on the stock of Axis Bank.
"Axis Bank's loan growth is likely to remain above the industry and its earnings profile strong over FY16-FY17. Maintain buy with a Sep'16 target price of 750," says Religare research report.
Religare has a buy call on the stock of JSW Energy with a price target of Rs 104.
"The management is hopeful of entering into remunerative long-term PPAs once the market opens up given the capital cost advantage. Further, given the comfortable leverage (D/E 1.88x) and cash flow position, JSW is best placed among private IPPs to capitalise on inorganic growth opportunities. At CMP, the stock trades at 1.7x FY16E and 1.5x FY17E P/BV. Maintain ‘BUY/ Sector Performer' with SOTP based target price of INR104/share," Religare has said in its research report.