Stock recommendations by analysts for December 18: Mazagon Dock, Petronet LNG and United Spirits
Stock recommendations by analysts for December 18: Mazagon Dock, Petronet LNG and United Spirits
Produced by: Prashun Talukdar
Market recap: Sensex, Nifty dive
Domestic benchmarks on Tuesday settled with sharp cuts as banks, financials, automobile, metals, consumer and energy stocks dragged. The 30-share BSE Sensex tumbled 1,064 points or 1.30% to close at 80,684 and the broader NSE Nifty plummeted 325 points or 1.32% to end at 24,343. India VIX, fear index, rose 3.31% to 14.49-level.
Stocks with potential ‘Buy’ calls for December 18, 2024
For December 18 (Wednesday), analysts from a domestic brokerage assigned 'Buy' calls on Mazagon Dock, Petronet LNG and United Spirits shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
Mazagon Dock share price target
LTP: Rs 5,283 | SL: Rs 5,100
Analysts from Religare Broking have given a 'Buy' call on Mazagon Dock Shipbuilders Ltd shares with a target price of Rs 5,750. The multibagger scrip has rallied 148.40% in the past one year. "We expect the stock to challenge its record high soon and hence one can consider taking positions," the brokerage said.
Petronet LNG share price target
LTP: Rs 339.70 | SL: Rs 330
Religare analysts have also selected Petronet LNG Ltd in their stock recommendations. They have given a 'Buy' call on the counter with an upside target of Rs 360 per share. The scrip has gained 57.01% in a year. "While most of the energy counters are witnessing pressure, Petronet is holding strong above its important averages. At current levels, it is a good opportunity for participants to accumulate the stock," the domestic brokerage stated.
United Spirits share price target
LTP: Rs 1,565 | SL: Rs 1,510
Analysts have included United Spirits Ltd as well in their stock suggestions with a 'Buy' call. The stock can hit an upside target of Rs 1,680, they said. The counter has risen 19.69% in the past one year. "Traders can consider initiating positions with a near-term target of Rs 1,680," the broking firm mentioned.
Nifty outlook
"The large-cap segment bore the brunt of the selling pressure on Tuesday, while the broader indices displayed relative resilience. This trend highlights a renewed selling spree by foreign institutional investors (FIIs) ahead of the US Federal Reserve meeting. Moving forward, a decisive break below the 24,300 mark could hinder the recovery and potentially drag the index toward 24,000. In this cautious market environment, traders are advised to adopt a hedged strategy and wait for clarity," said analysts at Religare Broking.
Disclaimer
Business Today provides stock market news for informational purposes only and that should not be construed as investment advice. Readers are encouraged to consult a qualified financial advisor before making any investment decisions.
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