Domestic stocks logged considerable gains in the week ended Friday, 8 Dec 2017, on positive global cues. The Sensex regained the significant 33-K mark during the week. The BSE Sensex rallied 300 points to close at 33,250 with ITC Limited as the top gainer and Hero MotoCorp, the great laggard. The NSE Nifty50 index gained about 100 points to end at 10,265.65.
Following stocks are identified for stocks picks/ recommendations for the next trading day, based on the stock movements on the weekend Friday:-
Shares of Future Consumer Limited rallied 16% after the global financial services, Morgan Stanley kicked off the coverage on the company with ‘overweight’ rating and set a target price of Rs 95. The stock closed at Rs 68 each, up 15.86% on BSE on Friday closing.
Shares of Unitech Limited is India’s second-largest real estate firm hit upper circuit limit of 20% after the National Company Law Tribunal allowed the govt to appoint 10 nominee directors at the company. The stock settled at Rs 7 each on BSE on Friday.
Shares of Panacea Biotec Limited sunk nearly 6% after rating agency CARE downgraded the company to ‘CARE D’, The stock closed at Rs 241.75 each, down 5.70% on BSE on Friday closing.
Shares of Jet Airways cracked over 4% after the company reported a sharp 91% Year-on-year plunge in Sept quarter net profit. The stock settled at Rs 665.60 each, down 4.47% on Friday.