The Indian stock market witnessed notable volatility during the Monday trading session and is expected to face continued influence from renewed tensions in West Asia, fluctuations in crude oil prices, and other geopolitical developments. As market participants navigate through these periods of uncertainty, select banking, auto, and speciality chemical stocks have emerged as top recommendations for the week.
Axis Bank, FIEM Industries, Jubilant Agri & Consumer Products, and Landmark Cars feature among the premier stock selections for the week by Monarch Networth Capital, with target prices and recommendations derived from Friday closing values.
Axis Bank Technical Outlook And Targets
The technical structure of Axis Bank stock has strengthened following a successful support test in the Rs 1,150 to Rs 1,160 zone, according to the Monarch Networth Capital report. The brokerage announced a target price bracket of Rs 1,400 to Rs 1,550 over a timeframe of 3 to 4 months, pointing to a potential 22% upside in valuation.
The brokerage report suggests that traders can look to accumulate AXISBANK within the 1255 to 1265 zone, targeting an upside of 1400 to 1550 over the upcoming 3 to 4 months, supported by a stop loss below 1130 on a closing basis.
Axis Bank shares finished 1.5% higher at Rs 1,283 each on the BSE on Monday, August 31, registering a market capitalization of Rs 3,99,408.53 crore. The scrip touched an intraday high of Rs 1,283 and dipped to an intraday low of Rs 1,251.65.
FIEM Industries And Jubilant Agri Performance
FIEM Industries delivered a June quarter performance that aligned with expectations, even as margins experienced pressure stemming from elevated raw material expenses and high employee costs. Supported by the earnings outlook for FIEM Industries, the brokerage retained a 'Buy' rating on the security.
The brokerage stated that it values FIEM at 20x Jun'28E earnings compared to 21x previously, resulting in a target price of Rs 2,805 versus Rs 2,790 previously. The upward revision in the target price is primarily driven by valuation roll forward, which was partially offset by a reduction in the target multiple and earnings, while the 'Buy' rating is maintained due to attractive valuations.
FIEM Industries shares closed 2.51% lower at Rs 2,036.45 apiece on the BSE on Monday, August 31, with a market capitalization of Rs 5,359.87 crore.
Jubilant Agri & Consumer Products delivered robust first-quarter financial results, propelled by healthy volume traction across both its adhesive and industrial polymer segments. The brokerage maintained a target price of Rs 2,745 per share, offering a projected upside of 28.2%.
The stock advanced 8.18% to settle at Rs 2,310.65 per share on the BSE on Monday, achieving a market capitalization of Rs 3,501.21 crore.
Landmark Cars Operational Discipline And Valuations
The strong operational performance exhibited by the company during the June quarter was supported by disciplined cost management, including reduced employee expenditure and lower miscellaneous expenses. The brokerage assigned a 'Buy' rating to the equity alongside a target price of Rs 735 per share.
Landmark Cars shares concluded trading 3.09% higher at Rs 518.29 per share on the BSE on Monday, securing a market capitalization of Rs 2,148.92 crore.
