Indian stocks markets are flat in the trade this week, amid global volatility, as recession fears spur. However, brokerage firm Motilal Oswal suggests buying these top 3 Tata group stocks at lower prices now as the market is down, for high short-term returns.
Tata Consultancy Services Limited (TCS)
The Current Market Price (CMP) of TCS is around Rs. 3009. Motilal Oswal is estimating a 24% near-term upside and suggested buying this stock with an Rs. 3730 target price. This multi-bagger IT stock has fallen by 18.43% in the past 6 months, amid volatility in the stock markets, making it cheaper for investors. The stock is now available at a near 52-week low price. Globally, IT stocks are down this month as the US equity markets are down due to recession and inflation concerns. Hence, the top IT stocks are available at lower prices now.
The Current Market Price (CMP) of Tata Consumer is around Rs. 795. Motilal Oswal is estimating a 12% near-term upside and suggested buying this stock with an Rs. 890 target price. Tata Consumer is a multibagger large-cap stock, as it has given a 288.85% return to the shareholders in the past 5 years. Due to a weak stock market, the stock is trading lower this month. It is an Indian fast-moving consumer goods company (FMCG) under the Tata Group, with an Rs. 73,526 crore market-cap.
The Current Market Price (CMP) of Tata Motors is around Rs. 432. Motilal Oswal is estimating a 20% near-term upside and suggested buying this stock with an Rs. 520 target price. However, On September 27, the stock fell to Rs. 399.60 a piece amid a down equity market, on weak global cues. However, amid a falling share price, the automobile company is focussing on new product launches, with Yodha 2.0, Intra V20 bi-fuel, and Intra V50. The company's Executive Director Girish Wagh said "At the company's commercial vehicle business level, we have been investing around Rs. 2,000 crore per annum which includes our investment in internal combustion engines, alternate fuel as well as electric vehicles. We will continue to invest at the same rate to ensure that we keep coming with new vehicles," PTI reported.
The above stock was picked from the brokerage report of Motilal Oswal. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. 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.