Amidst record rallies in the Indian stock market, brokerage Prabhudas Lilladher has recommended buying top heavyweight stocks in diverse segments like automobile, oil and gas and power. These stocks can potentially give intraday gains as the brokerage sets target prices. They are Maharatna PSU oil and gas giant GAIL (India), coupled with Tata Group-backed auto major Tata Motors and power giant Tata Power.
Tata Motors Share Price:
Shiju Koothupalakkal - Technical Analyst at Prabhudas Lilladher has recommended BUY on Tata Motors share price on June 28 with a target price of Rs 1,015 and stop loss of Rs 952 apiece.
Currently, the stock is trading at Rs 986.40 apiece, up by 1.48% on BSE, near its intraday high of Rs 988.40 apiece.
Earlier this week, JP Morgan maintained 'Overweight' on Tata Motors with a positive outlook. The target price is set at Rs 1,100.
The auto player is set to split in the ratio of 1:2. The company is planning the demerger of Tata Motors into two separate listed companies housing A) the Commercial Vehicles business and its related investments in one entity and B) the Passenger Vehicles businesses including PV, EV, JLR, and its related investments in another entity.
Tata Power Share Price:
The analyst has recommended BUY for a target price of Rs 460 with a stop loss of Rs 430 on Tata Power.
The stock is currently trading at Rs 441.85 apiece, up by 0.94% on BSE with a market cap of Rs 1,41,329.87 crore.
Tata Power is one of India's largest integrated power companies, present across the entire power value chain of conventional & renewable energy, power services, and next-generation customer solutions including solar rooftops, EV charging stations, and home automation.
GAIL India Share Price:
On GAIL, the analyst has recommended BUY for a target price of Rs 228 with a stop loss of Rs 213.
At the time of writing, GAIL traded at Rs 220.80 apiece, up by 1.3%, near its intraday high of Rs 221.70.
This natural gas producer is among the leading PSU stocks that pay hefty dividends. As per Trendlyne data, GAIL has paid up to 47 dividends since September 2001.
Additionally, GAIL also holds a long track record of rewarding bonus shares. The first time, GAIL turned ex-bonus was on October 6, 2008, for its bonus issue in the ratio of 1:2. After nearly a decade, GAIL rewarded two back-to-back bonus shares of 1:3 each in March 2017 and March 2018. Later, the company also paid bonus shares in the ratio of 1:1 in July 2019. The latest bonus issue is of 1:2 which was in September 2022.
Jefferies believes GAIL's consol EBITDA could rise ~2% assuming it retains the benefit in the LPG segment. GUJGA's competitiveness to propane would improve by 6%, aiding vol or margin. PLNG could see higher LNG dd.
GAIL is a pioneer in city gas distribution (CGD) business in India. It has a presence in 67 Geographical Areas across India. GAIL has 8 JVs and three subsidiaries in India for its CGD business. Further, GAIL has an overseas presence in the USA, Singapore, Myanmar, China, and Egypt.
Disclaimer: The recommendations made above are by market analysts and are not advised by either the author or Greynium Information Technologies. The author, the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns. in advises users to consult with certified experts before making any investment decision.
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