On December 10, the selling pressure dragged Nifty below 11,900, while Sensex ended 247 points lower. The BSE Midcap and Smallcap indices ended with 1 percent cut each. Here are 5 stocks which are on buying list of foreign brokerages:
Brokerage house CLSA has maintained buy rating on Inox Leisure with a target of Rs 450. The broking house feels that the company is going to continue with strong organic screen expansion, however, the company will be cautious in its approach towards inorganic growth. (LTP: Rs 365 | Return: 23 percent).
Research house Citi has kept a buy call on Jubilant FoodWorks with a target at Rs 1,655 per share. According to Citi, the company is well placed in attractive Indian food services market. The strategic tweaks in the last 2 years and good execution are the positives, while impact of slow macro seems less of a concern. Valuation looks reasonable. (LTP: Rs 1,562 | Return: 6 percent).
Foreign research house Nomura has maintained buy rating on Dr Reddy's Laboratories with target of Rs 3,200 per share. China and the hospital institutional sales are expected to scale up substantially and leveraging product portfolio across the markets should help to reduce risk, said Nomura. (LTP: Rs 2,896 | Return: 10 percent).
Research house Kotak Institutional Equities has maintained buy rating on Tata Motors with target of Rs 200 per share. It feels that JLR is on track to achieve its cost reduction targets ahead of its initial deadline, while recovery in volumes in China for JLR is encouraging. (LTP: Rs 159 | Return: 25 percent).
Research house Kotak Institutional Equities has upgraded HDFC to buy from add rating and raised target to Rs 2,600 from Rs 2,400 per share. According to the research house, the company will be a key beneficiary of consolidation in NBFC sector, while decline in funding costs improved its ability to compete with banks in retail biz. (LTP: Rs 2,294 | Return: 13 percent).
