The stock markets appear to have taken a slight breather, as Sensex extended losses for second consecutive session on Wednesday. At such a time, Angel Broking has identified two stocks which are trading under Rs 500, which have an upside of up to 47%.
The stock markets appear to have taken a slight breather, as Sensex extended losses for second consecutive session, falling 151.95 points to 33,218.81. The 50-share NSE Nifty was down 47 points at 10,303.20. A few market experts had suggested that the markets might undergo a slight correction. Arvind Sanger of Geosphere Capital said that the stock markets could see a slight correction in the near term due to profit booking. At such a time, Angel Broking has identified two stocks which are trading under Rs 500, which have an upside of up to 47%.
Angel Broking is bullish on the shares of TV Today Network. “Going ahead, we expect EBITDA margins would improve. We expect TTNL to report a net revenue CAGR of ~9% to Rs 727 crore and net profit CAGR of ~14% to Rs 121 crore over FY-2017-19E. We have a buy rating on the stock,” said the research firm in its report. Angel Broking has a target price of Rs 435 on TV Today Network shares. TV Today Network shares closed at Rs 364 on Wednesday afternoon. Angel Broking target implies an upside of more than 19% from the current market prices. Notably, the shares have returned more than 38% in the year so far, as compared to BSE Smallcap Index returns of more than 46%. “TTNL enjoys a strong viewership ranking in the Hindi and English news channel categories. The company’s Hindi news channel – Aaj Tak has maintained its market leadership position occupying the No.1 rank for several consecutive years in terms of viewership,” Angel Broking observed.
“We expect the GICHF’s loan growth to grow at a CAGR of 24.3% over next two years and RoA/RoE to improve from 1.7%/19.0% in FY-17 to 2.0%/23.0% in FY19E.The stock is currently trading at 2.4x FY2019E ABV. We have a Buy rating on the stock, with a target price of Rs 655,” said the brokerage firm in its report. GIC Housing Finance shares closed at 443.5 on NSE this afternoon, down by more than 5% since its previous close yesterday. Angel Broking target price implies an upside of more than 47% from the current market prices. In the year so far, GIC Housing Finance shares have returned more than 74%, In the same period, Nifty Financial Services Index has returned 40%.