Amid positive signals from global markets, the Indian stock market got off to a sluggish start on Friday (September 27).In the index benchmark, it was a little higher.
Amid this market volatility, the broker company has chosen auto component manufacturer Samvardhana Motherson (NSE: MOTHERSON) as a technical pick.
A top Brokerage has chosen the stock for 2 days. This Indian stock market was off with a sluggish start Friday. Sensex and Nifty were seen swinging in red and green marks.
However, the Sensex touched a new record high as soon as it opened. The index was trading above 85,800.
At the same time, Nifty was around the level of 25,222. Bank Nifty was around 118 points above 54,200. IT, metal, and pharma stocks registered a rise.
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Samvardhana Motherson: Huge Gain In Just 2-3 Days
Brokerage House has made Samvardhana Motherson a top technical choice. Buying is advised in the coming 2-3 days.
The target for the stock is Rs 227. On 26 September 2024, the stock closed at 212. This way the stock could have an upside of around 7-8 % in the coming years.
Samvardhana Motherson: Stock Jumped 102% In 9 Months
Amid the sluggish stock market, trading started with a slight rise in Samvardhana Motherson on Friday.
At the beginning of the session, the price jumped around half a percentage point to hit a record high in 52 consecutive weeks.
It has increased by 7 percent over the past month. At the same time, it has yielded 80 % over 6 months, and 8% over 3 months.
The 1-year return of the stock was 120 percent and 102 percent until 2024.
The 52-week peak of the stock on the BSE can be found at 215.50 and the lowest at 86.80. The market capitalization for the firm is greater than 1.50 lakh crore.
Quick Fact
| Company name | Samvardhana Motherson |
|---|---|
| Target stock price | Possible ₹227 |
| Closing price (Sep 27, 2024) | ₹214.56 |
| Potential upside (coming years) | 7-8% |
| Stock jump (9 months) | 102% |
| 1-year return | 120% |
| 6-month return | 80% |
| 3-month return | 8% |
| September rise (1 month) | 7% |
| 52-week high | ₹215.50 |
| 52-week low | ₹86.80 |
| Market capitalization | Over ₹1.50 lakh crore |
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