As the Indian stock market continues to show positive momentum, analysts are recommending several stocks for investors to consider. On November 7, 2024, prominent market experts have highlighted Tata Consultancy Services (TCS), Oberoi Realty, Indian Hotels, Vedanta, Polycab India, and Apollo Hospitals as top picks for today’s trading.
Current Market Overview
The Indian stock market has experienced a significant rally in recent days, with benchmark indices such as the Nifty 50 and Sensex witnessing substantial gains. Following the announcement of Donald Trump as the likely winner of the U.S. presidential election, the market reacted positively, leading to a surge in buying activity.On Wednesday, the Sensex surged by 901.50 points, or 1.13%, closing at 80,378.14 points, while the Nifty 50 ended the session up by 270.75 points, or 1.12%, at 24,484.05 points. Midcap and small-cap indices also outperformed the benchmarks, with gains exceeding 2% across all sectoral indices.
Top Stock Recommendations
1. Tata Consultancy Services (TCS)
- Target Price: ₹4,250 – ₹4,300
- Stop Loss: ₹4,050
- Sumeet Bagadia from Choice Broking recommends TCS for its strong fundamentals and growth prospects in the IT sector.
2. Oberoi Realty
- Target Price: ₹2,100
- Stop Loss: ₹1,990
- Analysts suggest that Oberoi Realty is well-positioned to benefit from the ongoing demand in the real estate sector.
3. Indian Hotels
- Target Price: ₹700
- Stop Loss: ₹675
- Vikas Sethi of Sethi Finmart believes that Indian Hotels will continue to perform well as travel and tourism rebound.
4. Vedanta
- Target Price: ₹485 – ₹490
- Stop Loss: ₹470
- Kunal Saraogi from Equityrush highlights Vedanta’s potential for growth due to its diversified operations in metals and mining.
5. Polycab India
- Target Price: ₹6,970
- Stop Loss: ₹6,850
- Analysts see Polycab India benefiting from increased demand for electrical products and cables.
6. Apollo Hospitals
- Target Price: ₹7,100
- Stop Loss: ₹6,910
- Apollo Hospitals is recommended for its robust healthcare services and expansion plans.
Conclusion
With a positive market outlook and strong recommendations from analysts, investors have several options to consider for today’s trading session. Stocks like TCS, Oberoi Realty, Indian Hotels, Vedanta, Polycab India, and Apollo Hospitals are positioned well for potential gains.
Disclaimer: The views and recommendations expressed in this article are those of individual analysts and do not represent the views of Zee Business or any affiliated entities. Readers are advised to consult with certified financial advisors before making any investment decisions as market conditions can change rapidly.
