Synopsis: SMC Global recommends four stocks amid current market conditions: GR Infraprojects Ltd, Asahi India Glass Ltd, Titan Company Ltd, and Century Plyboards (India) Ltd. GR Infra and Asahi India Glass are favored for their strong fundamentals, while Titan and Century Plyboards are attractive based on technical analysis.
SMC Global recently reported that Titan saw a significant drop, declining from Rs. 3,800 to around Rs. 3,200 due to profit booking at higher levels.
As the Indian equity market approaches record highs, SMC Global has identified four stocks—GR Infraprojects Ltd, Asahi India Glass Ltd, Titan Company Ltd, and Century Plyboards (India) Ltd—as promising investments amidst limited opportunities for profit.
The brokerage has chosen GR Infraprojects and Asahi India Glass for their strong fundamentals, while Titan and Century Plyboards are recommended based on technical analysis.
Here’s SMC Global’s take on these stocks:
GR Infraprojects | Buy | Target Price: Rs. 2,090 | Upside Potential: 25%
GR Infraprojects, a civil construction company, has completed over 100 projects across 16 states.
It has diversified into power transmission, hydro-tunneling, multi-modal logistic parks, and roadway projects, leveraging the government's aggressive infrastructure growth plans.
With a robust order pipeline worth Rs. 2.5 lakh crore, the company shows strong future growth potential.
The stock is expected to reach a price target of Rs. 2,090 within 8 to 10 months.
Titan Company | Buy | Target Price: Rs. 3,840-3,850 | Stop Loss: Rs. 3,300.
Titan has recently dropped from Rs. 3,800 to Rs. 3,200 due to profit booking.
However, it has formed a Double Bottom pattern around Rs. 3,200 and regained upward momentum above its 200-day EMA.
A fresh breakout above the 'W' pattern indicates positive price action ahead. Investors can buy the stock between Rs. 3,500-3,530, targeting Rs. 3,840-3,850, with a stop loss below Rs. 3,300.
Asahi India Glass | Buy | Target Price: Rs. 723 | Upside Potential: 16%
Asahi India, a leading glass solutions provider, plans a capex of Rs. 1,900-2,000 crore for capacity expansion over FY25-26.
The company is expanding its auto glass business and has played a crucial role in construction, automotive, architectural, and consumer glass segments.
With the Indian glass industry set for strong growth, driven by infrastructure development, urbanization, and sustainability, Asahi India is poised for significant upside.
The stock is expected to reach Rs. 723 in 8 to 10 months.
Century Plyboards | Buy | Target Price: Rs. 775-780 | Stop Loss: Rs. 645
Century Plyboards saw a sharp correction, falling from Rs. 850 to Rs. 630.
The stock has found support around its 200-day EMA and has been consolidating between Rs. 630-700.
Recently, it regained bullish momentum, breaking out above Rs. 700, suggesting further upward movement.
Investors can buy the stock between Rs. 695-700, targeting Rs. 775-780, with a stop loss below Rs. 645.
In conclusion, SMC Global has highlighted four stocks with promising potential amid the current market conditions: GR Infraprojects Ltd and Asahi India Glass Ltd for their strong fundamentals, and Titan Company Ltd and Century Plyboards (India) Ltd based on positive technical indicators.
With well-defined target prices and strategic entry points, these recommendations provide investors with viable opportunities to navigate the equity market.
However, it is essential to seek personalized advice from a qualified financial advisor before making any investment decisions to align with individual financial goals and risk tolerance.
Disclaimer: This information is provided for informational purposes only and should not be considered investment advice. Readers are advised to consult a qualified financial advisor before making any investment decisions.
