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Amar Deo Singh, senior vice president at Angel One Ltd., has ‘buy’ recommendation on Jio Financial Services Ltd. and India Cement Ltd. on Wednesday.
Singh recommends buying Jio Financial Services at Rs 290 with a stop loss of Rs 269 and a target of Rs 325. However, the stock is currently trading at Rs 293.
The sole analyst tracking the company recommends a ‘hold’ on the stock, according to Bloomberg data. The average 12-month consensus price target implies a downside of 9%.
He also suggests buying India Cement at Rs 335 with a stop loss of Rs 313 and a target of Rs 367. The current price of the stock is Rs 332.
Out of six analysts tracking the company, one maintains a ‘buy’ rating and five suggest ‘sell’, according to Bloomberg data. The average 12-month consensus price target implies a downside of 5.7%.
Jio Financial Services, a subsidiary of Reliance Industries, was demerged and listed as an independent entity in August 2023. The company offers a range of financial services, including payment solutions, insurance broking, and leasing services.
The firm aims to cater to the evolving financial needs of individuals and small businesses across urban, semi-urban, and rural areas of India.
India Cement, established in 1946, is one of the leading cement manufacturers in India. The company operates several integrated cement plants and grinding units across Tamil Nadu, Telangana, Andhra Pradesh, and Maharashtra, with a strong market presence in South India
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