Nilesh Jain, head VP of technical and derivatives research, (equity research) at Centrum Broking Ltd., has provided recommendation for two stocks this Tuesday—Tata Consumer Products Ltd. and Cummins India Ltd.

Jain recommends buying Tata Consumer Products with a stop loss of Rs 1,085 and a target price of Rs 1,151. The Tata Group company is a leading fast-moving consumer goods major and was formed when the consumer products business of Tata Chemicals merged with Tata Global Beverages in February 2020.

The company now operates in the food and beverages industry, with ~56% of their revenue coming from India while the rest is from their international businesses. After the merger, the company controls Indian and international brands like Tata Salt, Tata Tea, Tetley, Eight O’Clock Coffee, Good Earth Tea, Tata Sampann and Tata Starbucks.

Jain also suggests buying Cummins India with a stop loss of Rs 3,655 and a target price of Rs 3,540. Cummins India is a leading provider of integrated power solutions, including diesel and natural gas engines, power generation systems, and related components and technologies. It is a major part of the Cummins Group in India—a group of eight legal entities with a strong presence across the country. 

Stock Market

India’s benchmark indices ended flat on Monday. The NSE Nifty 50 ended 0.30 points flat at 25,461.30, while the BSE Sensex closed 9.61 points flat at 83,422.50. On intraday basis, Nifty fell 0.21% to trade at 25,407.25 and Sensex declined 0.20% to 83,262.23. Foreign portfolio investors turned buyers of Indian equities, snapping a five-day selling streak on Monday. Overseas investors net sold shares worth Rs 323 crore, according to provisional data from the National Stock Exchange.

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