Infosys, Uno Minda, Muthoot Finance among top stock picks by SMC Global
SMC Global Securities said that Infosys recently reached its 52-week high of Rs 2,006.45, but retraced to around the Rs 1,880 level since then due to profit-taking.
- Jan 13, 2025,
- Updated Jan 13, 2025 1:28 PM IST
Amid the rising selling pressure in the Indian stock markets, domestic brokerage firm SMC Global Securities has suggested four stocks- Infosys Ltd, Uno Minda Ltd, Deepak Nitrite Ltd and Muthoot Finance Ltd- to bet amid the scarce opportunities to make money. The brokerage has picked the former two based on their strong technical charts, while the latter two appear to be strong based on their sound fundamentals. Here's what the brokerage has to say about these counters:
Muthoot Finance | Buy | Target Price: Rs 2,742 | Upside: 30%
Muthoot Finance is a leading NBFC which provides gold loans. It predominantly operates in Southern India and is India’s largest gold financing company. Through its various subsidiaries it is also engaged in the business of affordable housing finance, gold loans, microfinance, vehicle finance, insurance broking and mutual funds. It operates with 7097 branches and has consolidated loan assets under management (AUM) of Rs 1,04,149.2 crore. Its strong focus on gold loans remains, with home loans identified as the second key growth area. The management is confident about the potential of non-gold loans, particularly personal and home loans, to contribute to overall growth. Continued marketing efforts and improved customer acquisition strategies are in place to maintain growth momentum. Thus, it is expected that the stock may see a price target of Rs 2,742 in 8 to 10 months.
Infosys | Buy | Target Price: Rs 2,100-2,120 | Stop Loss: Rs 1,860
Infosys recently reached its 52-week high of Rs 2,006.45, but retraced to around the Rs 1,880 level since then due to profit-taking. Despite this, the stock has maintained its bullish momentum, with prices consistently trading above the 200-day exponential moving average on both daily and weekly charts. Last week, a fresh bullish momentum was observed as the stock broke out of a symmetrical triangle pattern, signaling a continuation of the uptrend. Therefore, one can accumulate a stock in range of Rs 1,955-1,966 for the expected upside of Rs 2,100-2,120 levels with stop loss below Rs 1,860 levels.
Deepak Nitrite | Buy | Target Price: Rs 3,147 | Upside: 30%
Deepak Nitrite produces a wide range of chemicals including agrochemicals, colourants, rubber, pharmaceuticals, speciality and fine chemicals. It manufactures chemical intermediates to serve the domestic and international market with high quality products made in a responsible and sustainable manner. It is well positioned to capitalize on the 'Make in India for the World' initiative with its formidable manufacturing infrastructure and extensive process proficiency in the realm of chemistry. The growth strategy envisages a foray into more value accretive downstream products of existing core products through forward integration. Further, backward integration is also envisaged which will enhance raw material availability and security while opening up new avenues for growth and value creation. Thus, it is expected that the stock may see a price target of Rs 3,147 in 8 to 10 months.
Uno Minda | Buy | Target Price: Rs 1,275-1,280 | Stop Loss: Rs 1,000
Uno Minda has been maintaining its Bullish trend as price has been holding well above its 200 days exponential moving average on daily time frame. The Stock has been witnessing a period of prolonged consolidation as prices were trading in a defined range since the past few weeks. However, last week a fresh breakout has triggered on technical charts as the stock gave a decisive move above Rs 1,095 mark. The positive divergences on secondary oscillators along with price action suggest further upside into a stock. Therefore, one can accumulate the stock in the range of Rs 1,095-1,100 for the upside target of Rs 1,275-1,280 levels with stop loss below Rs 1,000 levels.
Amid the rising selling pressure in the Indian stock markets, domestic brokerage firm SMC Global Securities has suggested four stocks- Infosys Ltd, Uno Minda Ltd, Deepak Nitrite Ltd and Muthoot Finance Ltd- to bet amid the scarce opportunities to make money. The brokerage has picked the former two based on their strong technical charts, while the latter two appear to be strong based on their sound fundamentals. Here's what the brokerage has to say about these counters:
Muthoot Finance | Buy | Target Price: Rs 2,742 | Upside: 30%
Muthoot Finance is a leading NBFC which provides gold loans. It predominantly operates in Southern India and is India’s largest gold financing company. Through its various subsidiaries it is also engaged in the business of affordable housing finance, gold loans, microfinance, vehicle finance, insurance broking and mutual funds. It operates with 7097 branches and has consolidated loan assets under management (AUM) of Rs 1,04,149.2 crore. Its strong focus on gold loans remains, with home loans identified as the second key growth area. The management is confident about the potential of non-gold loans, particularly personal and home loans, to contribute to overall growth. Continued marketing efforts and improved customer acquisition strategies are in place to maintain growth momentum. Thus, it is expected that the stock may see a price target of Rs 2,742 in 8 to 10 months.
Infosys | Buy | Target Price: Rs 2,100-2,120 | Stop Loss: Rs 1,860
Infosys recently reached its 52-week high of Rs 2,006.45, but retraced to around the Rs 1,880 level since then due to profit-taking. Despite this, the stock has maintained its bullish momentum, with prices consistently trading above the 200-day exponential moving average on both daily and weekly charts. Last week, a fresh bullish momentum was observed as the stock broke out of a symmetrical triangle pattern, signaling a continuation of the uptrend. Therefore, one can accumulate a stock in range of Rs 1,955-1,966 for the expected upside of Rs 2,100-2,120 levels with stop loss below Rs 1,860 levels.
Deepak Nitrite | Buy | Target Price: Rs 3,147 | Upside: 30%
Deepak Nitrite produces a wide range of chemicals including agrochemicals, colourants, rubber, pharmaceuticals, speciality and fine chemicals. It manufactures chemical intermediates to serve the domestic and international market with high quality products made in a responsible and sustainable manner. It is well positioned to capitalize on the 'Make in India for the World' initiative with its formidable manufacturing infrastructure and extensive process proficiency in the realm of chemistry. The growth strategy envisages a foray into more value accretive downstream products of existing core products through forward integration. Further, backward integration is also envisaged which will enhance raw material availability and security while opening up new avenues for growth and value creation. Thus, it is expected that the stock may see a price target of Rs 3,147 in 8 to 10 months.
Uno Minda | Buy | Target Price: Rs 1,275-1,280 | Stop Loss: Rs 1,000
Uno Minda has been maintaining its Bullish trend as price has been holding well above its 200 days exponential moving average on daily time frame. The Stock has been witnessing a period of prolonged consolidation as prices were trading in a defined range since the past few weeks. However, last week a fresh breakout has triggered on technical charts as the stock gave a decisive move above Rs 1,095 mark. The positive divergences on secondary oscillators along with price action suggest further upside into a stock. Therefore, one can accumulate the stock in the range of Rs 1,095-1,100 for the upside target of Rs 1,275-1,280 levels with stop loss below Rs 1,000 levels.