Hindustan Foods share price: Big Movers on D-St: What should investors do with EIH, Wockhardt & Hindustan Foods shares?

The domestic market recouped some losses, but closed lower on Wednesday, trailing muted global indices. The S&P BSE Sensex fell over 160 points while the Nifty50 managed to close above 17,600 levels.

From a sector perspective, buying was seen in telecommunications, healthcare, and consumer durables stocks, while selling was seen in autos, power, utilities, banks and finance.

Targeted actions include names such as

which rose more than 11%, rose more than 8% and rose almost 6% on Wednesday.

Here’s what Rahul Goud, Research Analyst – Equity Research, CapitalVia Research at CapitalVia Research recommends investors do with these stocks when the market resumes activity today:

EIH: buy

EIH Limited offers hospitality and related services. The company manages 5-star hotels under the Trident brand and luxury hotels under the Oberoi brand. The stock is up 11.15% on Wednesday.

Since March 2022, the stock has been trading in an ascending channel. On Wednesday, it exited this channel with significant volume and gained traction in the hospitality sector.

Traders can buy the stock at the current market price of Rs 200 with a stop loss of Rs 190 and a target price of Rs 225.

Wockhardt: Buy

Active pharmaceutical ingredients (APIs), vaccines, and pharmaceutical and biopharmaceutical formulations are all produced and sold by Wockhardt.

With a price-to-book ratio of 0.88, the stock is now undervalued. Since May 2021, the stock has been declining, but at this point there are signs that a base is starting to form and volumes are starting to rise.

The MACD momentum indicator is also signaling a bullish breakout. For a target price of Rs 295 in the near future, a trader can buy the stock at the current market price of Rs 272 with a stop loss of Rs 260.

Hindustan Foods: Buy

Hindustan Foods is a company that produces healthy food products. In one month, the title rose by more than 8%. He recently broke through the formation of rectangular charts with significant volume.

The ADX momentum indicator also shows an upward slope, which may cause the momentum to continue. The stock can be bought by the trader at the current market price of Rs 494 with a stop loss of Rs 465 and a short-term target price of Rs 540.

(Disclaimer: The recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Eleanor C. William