Top stock tips by Mitessh Thakkar, Sudarshan Sukhani: Britannia, ICICI Bank, L&T and more

Indian shares are likely to start Wednesday's session on a positive note, taking cues from global markets. At 8:39 am, Nifty50 futures on the Singapore Exchange — an early indicator of India's NSE Nifty50 index — were up 45.5 points or 0.27 percent at 16,665, hinting at a positive opening ahead on Dalal Street.

Equities in other Asian markets held onto their recent gains as global shares rebounded thanks to a combination of positive Covid-19 vaccine news and easing worries over tapering of Federal Reserve stimulus. MSCI’s broadest index of Asia-Pacific shares outside Japan was last off slightly, but still up 3.7 percent so far this week. The index fell to its lowest in 2021 at the end of the previous week.

Overnight on Wall Street, two of the three main indices hit record highs,  with the S&P 500 gauge marking its 50th record closing high so far in 2021. The FDA’s full approval of a Covid-19 vaccine on Monday and the absence of negative catalysts kept risk appetite alive ahead of the much-anticipated Jackson Hole Symposium.

The Dow Jones Industrial Average rose 0.09 percent, the S&P 500 0.15 percent and the Nasdaq Composite 0.52 percent.

Buy Britannia for a target price of Rs 3,870 with a stop loss of Rs 3,790

Buy HDFC Bank for a target of Rs 1,595 with a stop loss of Rs 1,544

Buy ICICI Bank for a target of Rs 715 with a stop loss of Rs 684

Sell Concor below Rs 644 for a target of Rs 625 with a stop loss of Rs 654

Buy L&T for a target price of Rs 1,635 with a stop loss of Rs 1,585

Buy Apollo Hospitals for a target price of Rs 4,900 with a stop loss of Rs 4,800

Buy Tech Mahindra for a target price of Rs 1,480 with a stop loss of Rs 1,450

Sell Godrej Properties for a target price of Rs 1,430 with a stop loss of Rs 1,480