Brokerages Set New Targets For 3 Large-Cap Stocks, 1 Small Cap Stock, Maximum Gain 63%

Leading brokerages have set new targets for the three large-cap stocks namely Oil and Natural Gas Corporation Ltd., Bharat Petroleum Corporation Ltd., Wipro Ltd., and one mid-cap stock electrical stock Dixon Technologies Ltd. The brokerages have recommended investors to invest in these stocks for good returns.

Find the details below pertaining to new targets given to these stocks by renowned brokerage firms:

Name of the company	Current Price	Target Price	Potential return
Bharat Petroleum Corporation Ltd	Rs 309.05	Rs 400	29%
Oil and Natural Gas Corporation Ltd	Rs 125.20	Rs 170	36%
Wipro Ltd	Rs 392.20	Rs 640	63%
Dixon Technologies Ltd	Rs 3740.50	Rs 4800	28%

1. Bharat Petroleum Corporation Ltd

Leading brokerage Macquarie has maintained its rating of outperform on the stock of BPCL in its report. However, the brokerage has reduced the target price from Rs 480 to Rs 400 apiece. The Current market price of the stock is Rs 309.05 apiece and it is giving a potential return of 29% to the investors. The stock's 52-week high is Rs 503 apiece and 52-week low is Rs 293.35 apiece, respectively.

The current market capitalization is Rs 67,040 crore at the time of writing the story (1:31 pm). The PE of the stock is low at 5.74 while sector PE is 25.14. Its net cash flow and cash from operating activity is rising. The dividend yield is 5.18.
BPCL operates in the petroleum industry in India. The company operates in a single segment - Refinery and Marketing activities which includes Downstream petroleum sector.

2. Oil and Natural Gas Corporation Ltd

Brokerage firm Macquarie has maintained its rating of outperform for the stock of ONGC. However, the target price for the stock has been reduced from Rs 210 to Rs 170 apiece. The current market price of the stock is Rs 125.20 apiece and 52-week high and low levels are Rs 194 apiece and 108.50 apiece. The current market capitalization is Rs 1,57, 379 crores. The PE of the stock is 3.53 lower than sector PE of 4.47. The dividend yield is 8.39%. If investors invest in the stock it can give them the return of 63%. It is a company with strong financials.

It is the largest crude oil and natural gas Company in India contributing approximately 75% to Indian domestic production. It was set up in 1956.

3. Wipro Ltd

Macquarie has maintained its rating of outperform for leading tech sector stock Wipro and gave a target price of Rs 640 apiece. If investors invest in the stock of Wipro now, they can get a return of 63%. The current market price of the stock is Rs 392.20 apiece. The 52-week high is Rs 739 apiece and 52-week low is Rs 391 apiece. Brokers have upgraded their recommendations or target price for the stock. The PE of the stock is 17.57 while sector PE is 26.74. The current market capitalization is Rs 2,14,963 crore. The dividend yield is 1.53%.

It is a leading technology services and consulting company focused on building innovative solutions that address clients' most complex digital transformation needs.

4. Dixon Technologies Ltd

Brokerage firm Credit Suisse has recommended investors to invest in the stock of Dixon Technologies and has maintained its rating of outperform for the stock. It has issued a target price of Rs 4800 apiece for the stock. It has the potential to give returns of 28% to investors. The current market price of the stock is Rs 3740.50 apiece. Its 52-week high is Rs 6243.60 apiece and 52-week low is Rs 3180.55 apiece. It is a company with high TTM EPS. The current market capitalization is Rs 22,185 crore. The dividend yield is 0.05%.

As a home grown manufacturing company, Dixon Technologies provides design focused solutions in consumer durables, home appliances, lighting, mobile phones and security devices to customers across the globe, along with repairing and refurbishment services of a wide range of products including set top boxes, mobile phones and LED TV panels.

 

Disclaimer

The stocks have been picked from the brokerage report of various brokerages like Macquarie and Credit Suisse. Greynium Information Technologies, the author, and the brokerage house 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 decisions.