The Muhurat trading session that is going to be held on Thursday evening is regarded as one of the propitious occasions to invest in the stock market.
The session will mark the end of the previous Samvat 2077 and the commencement of a new year for the financial community. Many are skeptical about the trading considering the correction that has been happening for the last week.
Despite the correction that took place in some of the stocks, it does offer an opportunity for investors in the segment of large-cap companies.
Here are some large-cap stocks that investors should watch out for on Thursday's Muhurat trading session, according to The Economic Times.
Indian Energy Exchange (IEE). Target Price: Rs 890
Brokerage House View: Ashika Stock Broking said IEE is one of the blockbuster stocks of 2021 given its near-monopoly. It is a big beneficiary of changing dynamics in the short-term power market apart from the benefits of the new exchange. Valuations of the stock are demanding but its clean balance sheet and burgeoning growth prospects may justify the premium paid by investors.
Container Corporation of India. Target Price: Rs 830
Brokerage House View: Ashika Stock Broking said CONCOR, a divestment candidate, is also a play on the ongoing economic recovery in the country. With the land lease issue with the Indian Railways seemingly behind the company, investors are counting on acceleration in the divestment process. Dedicated Freight Corridor will benefit CONCOR significantly through double stacking, higher load capacities and reduced turnaround time, thus leading to improved volumes and profitability
Honeywell Automation. Target Price: Rs 49,840
Brokerage House View: Ashika Stock Broking said the company will get benefit from the government’s increased expenditure on infrastructure development like Smart Cities. Though the recent muted performance of the company is a temporary phase as ‘domestic core segments (oil & gas, process, and building segment) is gaining traction and exports pick up further momentum.’
Whirlpool of India. Target Price: Rs 2,590
Brokerage House View: Ashika Stock Broking said the company is expected to be a major beneficiary of the improving disposable income of the Indian middle class over the next decade. With more than 17 per cent volume share in the refrigerator and washing machine segment, Whirlpool is seen as a better bet than other white goods companies dependent on a single category.
