The end of Samvat 2077 has come to a close. Both Nifty and Sensex made record highs this year. Sensex crossed 60,000 for the first time to reach 62,000. On the other hand, Nifty was seen crossing 18000 for the first time.
Samvat 2078 Samvat 2078 has started from the day of Diwali. Meanwhile, HDFC Securities has recommended in 2 stocks included in Nifty. Out of this one is auto stock and one is PSU bank. Let’s take a look at them.
SBI-SBI has buy advice on HDFC Securities with a target of Rs 572. The brokerage house says that up to 8 per cent can be easily seen in this stock from here. Let us tell you that the stock closed at Rs 530.45 on the last trading day.
SBI recently presented its second quarter results. The results of the bank have been very good. The company’s profit on a year-on-year basis has increased by 67 per cent to Rs 7,626.6 crore as against the bank’s profit of Rs 4,574 crore in the second quarter of the previous financial year. Significantly, the bank’s profit was estimated at Rs 7,737.8 crore in the poll of CNBC-TV18.
The interest income of the bank grew by 10.6 per cent year-on-year at Rs 31,183.9 crore in the second quarter as against Rs 28181.5 crore in the second quarter of the previous financial year. At the same time, in the CNBC-TV18 poll, it was estimated at Rs 28,751.4 crore in the bank. In the second quarter, on a quarter-on-quarter basis, the gross NPA of the bank declined from 5.32 per cent to 4,90 per cent and the net NPA declined from 1.77 per cent to 1.52 Percent on.
Tata Motors- HDFC Security has a buy call on Tata Motors with a target of Rs 560. HDFC Security believes that up to 14 per cent upside can be easily seen in this stock from its current level. At present, this stock is seen around Rs 490.
Let us tell you that despite the company’s weak results in the second quarter, HDFC Securities has given a buy advice in this stock.
The company’s business has been badly affected due to chip shortage. There has been a loss of Rs 45 billion in the second quarter of FY 2022, but the company’s management expects the situation to improve from the second half of the current financial year and production will increase. Further, the company will also benefit from new launches, apart from this, the company will also benefit from the focus on electric vehicles.
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