6 Stocks Motilal Oswal Had A “Buy” Call On This Week

Markets have been moving slightly lower as banking stress in the US continues to weigh on asset prices. Motilal Oswal has continued recommending stocks and here are a few stocks that the brokerage recommended this week.

Stock	Price	Target
TCS	3175	3810
ICICI Prudential Life	408	530
Eris Lifesciences	559	710
Tata Motors	419	540
LTI Mindtree	4662	4590
JSW Steel	677.90	710

Among the stocks Motilal Oswal Financial services has recommended this week, are two Tata Group stocks, including the likes of Tata Motors and Tata Consultancy Services.

All eyes on the US Fed next week

Domestic equities joined the global market rally after consortium of major US private banks announced $30 billion rescue package for First Republic Bank. Nifty opened gap up and despite a volatile session, managed to close near day's high with gains of 114 points (+0.7%) at 17100 levels. Broader market too gained 0.3-0.7% while India VIX corrected by 9% to 17.77 levels. Realty and Metals were the biggest gainers followed by Banking and IT. On the other hand, Pharma, FMCG and Auto were the weak counters.

"Going ahead we expect a short term pullback in the market as lower US PPI inflation and slower US retail sales data has led to the hope of lower 25 bps rate hike in the Fed policy meet next week. However the market structure is still weak and hence traders should take a cautious stance at higher levels. Metal stocks could see some momentum after China's central bank cuts CRR by 25bps in an effort to stimulate its economy. Realty stocks are seeing buying interest post DLF announcement of record sales growth. With oil hovering at 15-month low, cement, paints and OMCs would also be in focus," says Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Disclaimer

Please note, these are not the recommendations of the author or Greynium Information Technologies Pvt Ltd. We have pulled out information based on the latest reports of Motilal Oswal. However, neither the brokerage firm, nor the author nor Motilal Oswal should be held responsible for losses incurred based on a decision from this article. Investors are advised to do their own research.