New Delhi: IIFL Securities has recommended stock market enthusiasts to buy two stocks for long term benefits. The brokerage firm advised the investors to pump in their money in the shares of Updater Services and Crompton. The firm shared the target price and Stop Loss for both the stocks
Crompton share price target
IIFL Securities’ Idea2Act recommendations are considered to be accurate and have a ‘strike rate’ of 97 per cent. Giving a Buy rating on Crompton, the brokerage recommended the stock to be purchased at Rs 417-437 with a target price of Rs 484 in 366 days. Crompton share price closed at Rs 432.10 apiece on NSE on 15th July 2024.
CGCEL (Crompton) came into existence in February 2015 with the aim to demerge the consumer products business of Crompton Greaves. Following the demerger, Crompton emerged as a pure-play, light electrical-products company.
Crompton currently operates in four distinct product categories – fans, lighting, pumps and appliances. It is one of the leading players in the three large product categories of fans, lighting and pumps. The company has a healthy 50:50 balance between in-house manufacturing and third-party local sourcing.
Driven by strong volumes, appliances, fans and pumps grew 27%/13%/9% YoY while large kitchen appliances portfolio continues to scale up.
Updater Services share price target
Maintaining a Buy rating on UDS shares, IIFL Securities said the stock can be bought at Rs 310-328 apiece with a target price of Rs 374 in 366 days. UDR share price closed at Rs 324.20 apiece on NSE on July 15, 2024.
Updater Services Limited (UDS) is a leading integrated business services platform offering integrated facilities management services (IFM) and business support solution services (BSS). The company was founded by Raghunandana Tangirala and commenced operations in 1990 as a housekeeping and catering services provider in Chennai.
Matrix has seen profitability improve in 2HFY24. UDS has 16 airports currently operational. Six more will be operational during 1QFY25.
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Stocks to Buy for long term: IIFL Securities recommended buying shares of Updater Services and Crompton with a one year perspective. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
