Six stocks identified by SMIFS with potential upside for Diwali Muhurat
Domestic brokerage SMIFS has issued BUY recommendations for six stocks, including Swiggy and TVS Supply Chain Solutions, according to The Economic Times.
Domestic brokerage SMIFS has identified six stocks with potential upside for the Diwali Muhurat, according to a report by The Economic Times.
TVS Supply Chain Solutions leads the list with an upside potential of 116 per cent, having a target price of Rs 240 against a current market price of Rs 111.
Swiggy carries a BUY recommendation with a target price of Rs 375 against its current market price of Rs 184, implying a 104 per cent upside.
Other stocks with BUY recommendations include Mazagon Dock Shipbuilders, which has a target price of Rs 2,905 against a current market price of Rs 1,731, and Olectra Greentech, with a target price of Rs 1,500 against a current market price of Rs 985.
Larsen & Toubro has a target price of Rs 4,550 compared to its current market price of Rs 3,801, while ITC Ltd. has a target price of Rs 360 against its current market price of Rs 259.
The Nifty has declined due to geopolitical tensions, elevated energy prices, foreign selling, and higher global borrowing costs, though the correction has improved the balance between valuations and earnings prospects.