Four Big Brokerage Houses Suggest Stocks Below Rs 100 To Invest In – News18

The Indian stock market has been witnessing dramatic variations lately. Given the constant ups and downs in the share market, experts are suggesting that there is a need to be cautious while investing money. Moreover, they are advising to invest only in quality stocks with strong fundamentals.

Amidst this, brokerage houses ICICI Securities, Motilal Oswal, Geojit and MK Global have recommended one stock each for investors. These four stocks recommended by all four brokerages are priced below Rs 100 and are sure to give excellent returns in the coming days.

Zomato

The share prices of online food delivery platform Zomato have gained 67.26 per cent in the past six months. In 2023, the overall percentage of profit is 52.55 per cent. The brokerage houses Geojit and Motilal Oswal have advised buying Zomato shares as they believe that there is a scope for growth in this sector. While Geojit has fixed a target price of Rs 114, Motilal Oswal has set a target price of Rs 110 on this stock.

Calcutta Electric Supply Corporation

Brokerage house MK Global said that investing in the Calcutta Electric Supply Corporation (CESC) will prove to be beneficial. It is because the Profit After Tax (PAT) growth of this company led by RP-Sanjiv Goenka Group has increased by 23 per cent in the first quarter of the current financial year. Meanwhile, combined PAT stood at Rs 17 crore in the June quarter against Rs 6 crore in the year-ago quarter. The target price for the stock has been fixed at Rs 100.

South Indian Bank

Brokerage house ICICI Securities finds it beneficial to invest in South Indian Bank. On Tuesday, the stock closed at Rs 24.75 with a gain of 5 per cent. With a fixed target price of Rs 28 on this stock, the brokerage noted that the June quarter was excellent for the bank as it witnessed an increased profit of 75 per cent and Rs 202 crore.

Motherson Sumi Wiring (MSWIL)

Brokerage house Motilal Oswal, meanwhile, has advised to go for Motherson Sumi Wiring (MSWIL), fixing a target price at Rs 70. The stock closed at Rs 59.55 on the NSE on Tuesday, August 23. As per the company’s annual report, the company is emphasising electrification trends, localisation and maintaining return on capital employed (ROCE) at 40%.