Long term investment ideas: Analysts pick Nykaa, DOMS, Orchid Pharma and 2 other stocks for over 40% returns; check details
The 30-share BSE Sensex rose 805.96 points to 79,911.84 in early trading. The NSE Nifty rose by 252.05 points to 24,395.80. Meanwhile, brokeraga Nuvama has recommended five stocks to buy for one year.
The equity benchmark indexes Sensex and Nifty rose in early trade on Friday, fuelled by a recovery in global markets and buying in IT firms.
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BSE Sensex and NSE Nifty
The 30-share BSE Sensex rose 805.96 points to 79,911.84 in early trading. The NSE Nifty rose by 252.05 points to 24,395.80.
India rupee today
In early trading on Friday, the Indian rupee was unchanged at 83.94 against the US dollar, weighed down by fears about rising crude oil costs and a migration of foreign capital out of local equities markets.
Nuvama picks 5 stocks for 1 year
Meanwhile, brokerage Nuvama has picked five strong fundamental shares from a long term perspective.
Stocks to buy
These stocks include Samvardhana Motherson, Nykaa, Gujarat Fluorochemicals, DOMS, and Orchid Pharma.
Targets and stop losses of these shares
Let's take a look at these stocks' target price, stop loss and other details. These stocks may give up to 42 per cent returns in one year.
Samvardhana Motherson International share price target
Nuvama has a buy recommendation on Samvardhana Motherson for a target of Rs 220. On August 14, 2024, the stock closed at Rs 184.5. In this way, at the current price, the stock can give around 20 per cent return in the next 12 months.
What is Nykaa share price target?
Nuvama recommends buying on Nykaa for a target of Rs 220. On August 14, 2024, the stock closed at Rs 189.2. In this way, at the current price, the stock can give around 16 per cent return in the next 12 months.
Gujarat Fluorochemicals share price target
The brokerage has also suggested buying Gujarat Fluorochemicals shares for a target of Rs 4,697. On August 14, 2024, the stock closed at Rs 3,324.3. This means the stock can provide over 40 per cent returns from its last closing price.
DOMS Industries share price target
Nuvama has given a target of Rs 2,580 on DOMS. On August 14, 2024, the stock closed at Rs 2,274.3. This means the stock can provide over 13 per cent returns from its last closing price.
Share price target of Orchid Pharma
The brokerage has also suggested buying Orchid Pharma shares for a target of Rs 1,650. On August 14, 2024, the stock closed at Rs 1,388.6. This means the stock can provide over 18 per cent returns from its last closing price.
Disclaimer: The views/suggestions/advices expressed here in this article are solely by investment experts. Zee Business suggests its readers consult their investment advisers before making any financial decision.