Major stocks to look out for today

The Nifty is likely to remain in an uptrend on Thursday owing to a strong move in Asia and leftover pent up buying from the previous day. The index may face resistance in the 8,550-60 zone after it overcame a major resistance level at 8,450 points. The Nifty is already trading near a one-month high. Major stocks in action include:

1. MARUTI remains the top sectoral pick in the auto space after the car maker released its June sales details yesterday. The company is expected to launch a series of new models till Diwali to capture pent up demand in the market.

2. TATA MOTORS: The stock looks attractively priced at current levels after the sharp fall in the price over the last two months. Analysts are expecting volumes of its high-end Jaguar and Range Rover models to move back into double-digit growth phase from the third quarter of FY15 on the back on new launches.

3. GSPL and Petronet LNG: Traders are advised to switch positions to GSPL and Petronet LNG after the Supreme Court's ruling on the gas regulator that curbs its powers to impose tariffs and regulate margins. IGL has already shot up in trade yesterday and market men expect GSPL and Petronet LNG to be longer-term beneficiaries of the trend.

4. AXIS BANK: CLSA raises its target on the lender to `660 from `640 and continues to maintain a BUY stance on the stock. Axis Bank's retail operations are scaling up well even though lending to companies remains dominant, says the report. Axis Bank's earnings are expected to grow 21 percent over FY15-18, backed by uptick in current and saving accounts, the report states.

5. TORRENT PHARMA: Global brokerage CLSA maintains its BUY rating on the drugs maker with a target of `1,474 per share. CLSA says Torrent's strong business roots in US should see it double its turnover from that geography to $250 million. Torrent is likely to post strong growth in core earnings of 24 percent CAGR between FY15-18, the report says.

6. SOBHA DEVELOPERS: BoFA ML has upgraded the real estate player to BUY from UNDERPERFORM and raised the price target to `500 from `490 on the back of the stock being priced at a 36 percent discount to the net asset value of the company. Sobha's earnings per share are likely to expand 18 percent CAGR between FY15-18, says the report.

(Image credit: Indiatimes)