Indian shares edged higher on Tuesday as metal stocks like Hindalco and Tata Steel and Vedanta surged. Sensex rose over 80 points to 32,355 while the Nifty added over 25 points to 10,084. Hindalco Industries was the top gainer in Nifty, up nearly 7 per cent after its US subsidiary Novelis reported four-fold jump in its net profit for the June quarter. Novelis is the leading producer of flat-rolled aluminum products and the world's largest recycler of aluminium. Tata Steel was the second biggest gainer in the Nifty, up 3.6 per cent as it swung to a first quarter profit from a loss a year ago. The metal sub-index of NSE was up 2.8 per cent. Meanwhile, Bharti Infratel was the top loser in Nifty, down 3.5 per cent. Bharti Airtel reportedly sold 3.5 per cent stake in the company through a block deal today.
Here are some of trading calls shares by market analysts:
Simi Bhaumik, Research Analyst
Buy Arvind for a target of Rs 399 with stop loss at Rs 384
Buy IOC for a target of Rs 444 with stop loss at Rs 424
Buy Muthoot Finance for a target of Rs 486 with stop loss at 467
Buy PTC India for a target of Rs 143 with stop loss at Rs 113
Buy Polaris Consulting Services for a target of Rs 264 with stop loss at Rs 227
Disclaimer: Investors are advised to make their own assessment before acting on the information.