Pick of the day: OFSS, Ipca Labs, Birla Corporation among analysts top stock recommendations
As the Fed's hawkish stance continued to weigh, Indian equities traded weak for the fifth straight day. At around the time of writing the copy, Sensex was down over 200 points, while the Nifty index held on to 23,900 levels. Meanwhile, broader markets underperformed the headline indices.
Here below are the Picks of the day (December 20) as given out by Zee Business panelist
Pick of the day: Mphasis
Rakesh Bansal of Rakesh Bansal Ventures has given Mphasis as the pick of the day. The analyst clarified that the pick of the day is for that particular day unless he makes a clarification.
Pick of the day: Mphasis target price
The expert suggests buying the scrip for a target of Rs 3,350 with the stop loss placed at Rs 3,015.
Pick of the day: Birla Corporation
Also, Bansal recommended to buy the cement company scrip- Birla Corporation for a target of Rs 1,280, keeping a stop loss of Rs 1,225 per share.
Pick of the day: Oracle Financial Services Software
Kunal Saraogi- SEBI-Registered research analysts advises a 'buy' on Oracle Financial (OFSS) for a target of Rs 13,500 with the stop loss of Rs 12,600.
Pick of the day: Ipca Laboratories
Saraogi also recommends buying the pharma company stock Ipca Labs for a target of Rs 1,630/ Rs 1,670. The stop loss for the stock is pegged at Rs 1,565 per share.
Pick of the day: NCC
Siddharth Sedani, National Head - EVP - Equity Product & Advisory Support at Anand Rathi recommends buying the construction company stock NCC for a target of Rs 305/ Rs 368.