Stocks to BUY, SELL, HOLD: Amidst the volatile environment in the stock market, brokerage houses have issued their BUY, SELL and HOLD recommendations on selected stocks…
highlights
- In the stock market, investors keep an eye on the latest recommendations of brokerage.
- Amidst the volatile market environment, brokerages are advising buying in selected stocks, while hold or sell stance has been adopted on some stocks.
- The brokerage’s list includes large and midcap stocks from banking, IT, infrastructure and consumer sectors.
Stocks to buy, sell and hold in your portfolio: Amidst the volatile environment in the stock market, brokerage houses have issued their BUY, SELL and HOLD recommendations on selected stocks. Selective buying is being advised in stocks with strong growth visibility, while in some sectors it has been asked to adopt a cautious approach. The target prices of many large and midcap stocks in the banking, IT, infrastructure and consumer sectors have been changed.
After a big fall on Tuesday, January 20, the Indian stock markets are once again seen trading on a weak note on January 21. In early trade around 9.30 am, Sensex was down 142 points at 82021 and Nifty at 25205.
On January 20, Indian stock market indices Sensex and Nifty fell by more than 1 percent, due to massive selling amid rising geopolitical tensions. Weakness in the rupee and continuous outflow of foreign funds have also hurt investor sentiment. Amid a big fall on Tuesday, January 20, Nifty closed at 25,232.50, down 353 points or 1.38 percent. The 30-share BSE Sensex fell 1,065.71 points or 1.28 per cent to close at 82,180.47.
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polycab share price target
The brokerage’s stance on wire and cable manufacturer Polycab remains positive. Jefferies has reiterated its BUY rating on Polycab and set the target price at Rs 9,225. While maintaining a neutral rating, Goldman Sachs has increased the target to Rs 7,930, while another brokerage Morgan Stanley has given a target of Rs 9,659 with an overweight rating, while Citi has given a target of Rs 9,500 with a BUY rating.
Federal Bank Share Price Target
Talking about the banking sector, Citi has given a neutral rating on Federal Bank and has set a target price of ₹ 280.
HDFC Bank share price target
Brokerages are still bullish on HDFC Bank, one of the largest private banks in the country. Both Citi and Bernstein have a buy rating on HDFC Bank and a target price of ₹1,200 while maintaining outperform ratings respectively.
Brokerage’s view on ICICI Bank
Citi has reiterated BUY rating on ICICI Bank and given a target of ₹ 1,720.
What should investors do in Reliance Industries shares?
Citi has also maintained its buying advice on the country’s largest company Reliance Industries (RIL), although the target price has been reduced to ₹ 1,815.
What should be the strategy in IT and tech sector?
The stance of brokerages in the IT and tech sector seems to be a bit cautious. On Tata Technologies, Motilal Oswal has reduced the target to ₹ 550 while maintaining the SELL rating. On the other hand, on Tech Mahindra, Nuvama has improved its outlook from Reduce to Hold and increased the target price to ₹ 1,650.
On the other hand, Motilal Oswal has given a target of ₹ 275 on Wipro with Neutral rating.
Keep an eye on these shares also
Buying advice has been given on some stocks in the financial and infrastructure sectors. Motilal Oswal has kept a target of ₹ 610 with BUY rating on Poonawalla Fincorp, while advising BUY on JSW Infra with a target price of ₹ 360. Real estate company Sobha – Motilal Oswal has slightly reduced the target to ₹ 1,825 while maintaining BUY rating on Sobha.
Overall, brokerage firms believe that selective opportunities remain in banking and infrastructure sectors, while IT stocks need to be cautious at the moment. In such a situation, investors are being advised to adopt a strategy of focusing on selected shares and take investment decisions keeping in mind the current market conditions.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice in any way. ET NOW Swadesh recommends its readers and viewers to consult their financial advisors before taking any money-related decisions.
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