Multibagger stocks to buy: Analysts suggest buying these 2 EMS stocks for up to 28% gains; check out targets
The Indian rupee traded range-bound in the early session on Thursday, rising 2 paise to 83.97 versus the US dollar, owing to a bullish trend in local stocks and foreign capital inflows.
Indian equity indexes began higher on Thursday, September 12 after bullish global cues from Asian and US markets.
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Sensex and Nifty today at 1.18 PM
At 1.18 PM, the Sensex was up 165 points, or 0.21 per cent to 81,698.29, while the Nifty was up 85.90 points, or 0.34 percent, at 25,004.35.
IT, PSU banks, pharmaceuticals, FMCG sectors
Almost all sectoral indicators were up. IT, PSU banks, pharmaceuticals, fast-moving consumer goods (FMCG), metals, and energy all saw significant gains.
Indian currency vs US dollar
The Indian rupee traded range-bound in the early session on Thursday, rising 2 paise to 83.97 versus the US dollar, owing to a bullish trend in local stocks and foreign capital inflows.
Nomura recommends buying electronics manufacturing services stocks
Meanwhile, brokerage Nomura recommends buying electronics manufacturing services (EMS) sector stocks Dixon Technologies and Kaynes Technology.
Why Nomura is bullish on EMS sector stocks
The brokerage said that companies have ample opportunities for growth in the electronics segment and globally. Electronics production is estimated to grow at an annual rate of 25 per cent in FY24-30F. Companies in the sector will benefit from the PLI scheme. The market value of India's EMS industry is estimated to grow at a rate of 30 per cent annually. Growth is also expected in the semiconductor segment.
Nomura's views on Dixon Tech
While initiating coverage on this stock, Nomura said that the company will benefit from the strong orders received in mobile and IT hardware. Market share in the mobile segment is expected to be 30 per cent by FY27F. Backward integration will also benefit. The ROCE of the company is stronger than other companies.
Dixon Tech share price target
Nomura has given a target of Rs 15,567 with a buy rating, which is a 23 per cent upside target of its last closing price on Wednesday, September 11.
Nomura on Kaynes Tech
The brokerage said that the company has a good hold in B2B industrial segments. An increase in income of more than 13-27 per cent is expected.
Kaynes Technology share price target
The brokerage has given a target of Rs 5,969 with the beginning of coverage. This means the stock can provide returns of up to an upside target of 28% compared to its last closing price on Wednesday, September 11.
The views/suggestions/advice expressed here in this article are solely by the brokerage firm. Zee Business suggests its readers consult their investment advisers before making any financial decision.