Mumbai: IIFL Securities on Wednesday recommended two shares to be purchased. The brokerage suggested buying shares of Hindustan Zinc and Varun Beverages Ltd. It however, advised stakeholders of Adani Enterprises, Berger Paints India Ltd and SRF Ltd to offload their holdings.
The benchmark BSE Sensex plummeted 930.55 points to finish at 80,220.72, the lowest closing level since August 14, 2024. The Nifty declined below the 24,500 level to settle at 24,472.10. Commenting on the fall in stock market on October 22, Vinod Nair, Head of Research, Geojit Financial Services, said the indices were hit as a result of sluggish earnings growth trends and a “recent sharp rise in US bond yields signals diminished expectations for aggressive rate cuts by the US Fed, also affecting fund flows to EMs”.
Hindustan Zinc share price target
Buy: Rs 514
Target price: Rs 537-555
Stop Loss: Rs 490
IIFL Securities initiated a Buy rating on Hindustan Zinc, saying that the investors can buy the stock at Rs 514 per equity share with a target price of Rs 537-555 while the Stop Loss be maintained at Rs 490.
VBL share price target
Buy: Rs 595
Target price: Rs 618-630
Stop Loss: Rs 572
The brokerage advised the stock market enthusiast to purchase Varun Beverages shares at Rs 595 apiece with the share price target set at Rs 618-630. It advised the VBL shareholders to maintain the Stop Loss at Rs 572.
Berger Paints share price target
Sell: Rs 542
Target price: 520-505
Stop Loss: Rs 563
IIFL Securities initiated a Sell rating on Berger Paints. It recommended selling the stock at Rs 542 per equity share and place the target price in the range of Rs 520-505. The brokerage said the counter should be safeguarded by positioning the Stop Loss at Rs 563.
Adani Enterprises share price target
Sell: Rs 2835
Target price: Rs 2770-2720
Stop Loss: Rs 2900
IIFL Securities suggested buying shares of Adani Enterprises at Rs 2835 apiece with a target price of Rs 2770-2720. The brokerage should set the Stop Loss at Rs 2900.
SRF share price target
Sell: Rs 2210
Target price: Rs 2145-2100
Stop Loss: Rs 2275
Sell SRF shares at Rs 2210 apiece as the counter is expected to go down to the levels of Rs 2145-2100. The Stop Loss should be positioned at Rs 2275.
