News

This is a Mint Premium article gifted to you. Subscribe to enjoy similar stories.

On Monday, 16 June, the Nifty 50 ended the session 227.90 points higher, up 0.92%, to close at 24,946.50, marking a strong rebound and reflecting confidence in India’s economic stability. The BSE Sensex also registered gains, rising 677.55 points or 0.84%, to end at 81,796.15. Despite initial weakness, the Nifty Bank managed to close higher by 417.55 points or 0.75%, at 55,944.90.

Muthoot Finance Ltd (MUTHOOTFIN)-current price: ₹2,633.30

Why it’s recommended: Muthoot Finance has delivered a clear breakout, pushing to a new lifetime high on strong momentum. On the 45-minute chart, the stock has completed a symmetrical triangle breakout, projecting an upside target around ₹2,700+. This pattern typically indicates consolidation followed by trend continuation, which aligns with the broader bullish structure. Price action remains firm with strong candles on both intraday and daily charts. RSI is near 70, reflecting strong momentum, and MACD is in a bullish crossover. The stock is trading well above its key moving averages, confirming trend strength across timeframes.

Key metrics: Resistance level: ₹2,694 (short-term target) | Support level: ₹2,590 (pattern invalidation level)

Pattern: Symmetrical triangle breakout on 45-minute chart; all-time high breakout on daily chart

RSI: ~70, rising, indicating solid bullish momentum

Technical analysis: Triangle breakout adds to the bullish continuation outlook. Price trading above all key moving averages with bullish MACD and no negative divergence. Volume on breakout candles supports upward follow-through.

Risk factors: The RSI is near overbought territory, so short-term consolidation or a dip is possible. If the price falls below ₹2,590, it would invalidate the breakout pattern and may lead to profit booking. Watch for sustained volume and follow through above breakout levels to confirm the move.

Buy at: ₹2,633.30

Target price: ₹2,694

Stop loss: ₹2,590

Bharat Electronics Ltd (BEL)-current price: ₹403.85

Why it’s recommended: BEL has made a new lifetime high backed by strong volume, signalling sustained bullish interest. On lower time frames, the stock has completed a rectangle breakout, with a projected target of ₹425+. This consolidation breakout within an uptrend suggests a continuation move. With momentum on its side and a clearly defined risk level, taking a long trade with a small stop loss offers a favourable risk-reward setup. The RSI is strong but not overbought, and the MACD is in buy mode, confirming bullish momentum.

Key metrics: Resistance level: ₹419– ₹422 (short-term target range) | Support level: ₹397 (pattern invalidation level)

Pattern: Rectangle breakout on lower time frame; new lifetime high on daily chart

RSI: ~67, rising, showing healthy momentum

Technical analysis: The stock is trading well above its key moving averages, showing strong trend alignment. Breakout with volume on both daily and intraday charts reinforces the move. MACD remains positive, and the breakout level has been successfully retested on shorter time frames.

Risk factors: A drop below ₹397 could invalidate the breakout and trigger short-term profit booking. As the stock is at all-time highs, any market-wide volatility may lead to sudden pullbacks. Trade should be monitored closely for sustained momentum.

Buy at: ₹403.85

Target price: ₹419– ₹422

Stop loss: ₹397

Max Healthcare Institute Ltd (MAXHEALTH)-current price: ₹1,246.90

Why it’s recommended: The stock continues to maintain a strong uptrend with a well-formed structure of higher highs and higher lows. Technical indicators are supportive: RSI is at 67, indicating strong yet sustainable momentum, and the MACD is firmly positive, showing continued buying strength. On the weekly chart, RSI has broken out from an inverted Head & Shoulders pattern — a rare and bullish signal, suggesting a deeper underlying momentum shift. This convergence of signals across multiple time frames indicates the potential for a sustained move upward in the short term.

Key metrics: Resistance level: ₹1,304 (short-term target), Support level: ₹1,218 (pattern invalidation level)

Pattern: Uptrend continuation with breakout from consolidation; inverted Head & Shoulders on weekly RSI

RSI: 67, rising, with strength across daily and weekly time frames

Technical analysis: Price action is well supported by momentum indicators. The stock is trading well above its key moving averages, and MACD continues to rise. Breakout is confirmed on both daily and weekly timeframes, offering a strong multi-frame setup.

Risk factors: A dip below ₹1,218 could weaken the current bullish structure and lead to a short-term retracement. Given the recent breakout and higher levels, some profit booking could emerge if momentum slows. Close monitoring is advised to confirm follow-through.

Buy at: ₹1,246.90

Target price: ₹1,304

Stop loss: ₹1,218

P/E: 358.87

52-week high: ₹825.90

Volume: 729.81K

P/E: 23.21

52-week high: ₹623.40

Volume: 724.31K

P/E: 55.82

52-week high: ₹435.45 (corrected)

Volume: 724.46K

Current price:  ₹5,440

Target price:  ₹6,350 in 12 months

Stop-loss:  ₹4,985

Why it’s recommended: LTIM, founded in 1996, provides IT solutions for testing, analytics, artificial intelligence, enterprise solutions, development, maintenance, applications, infrastructure management, and cognitive services. Headquartered in Mumbai, it has offshore delivery centers in Bengaluru, Chennai, Pune, and Mumbai in addition to global development centers in the US, Canada, Europe, South Africa, the Middle East, and Singapore. The combined skills of more than 84,000 talented and enterprising professionals spread across more than 40 countries make up the company's strength.

It clocked revenue of ₹38,008 crore in FY25, up 7% year-on-year, and profit after tax (PAT) of ₹4,602 crore, up 0.4% year-on-year. In FY25, operating cash flow to PAT was 98.8%, and free cash flow to PAT was 78.5%. LTIM spent its largest sum of money and investments ever of $1.56 billion, or ₹13,346 crore, in FY25. Its revenue distribution by region is as follows: North America accounts for 74.8%, Europe for 14.1%, and the rest of the world for 11.1%. The company now employs 84,307 individuals, with 2,657 net employees recruited annually. Attrition remained steady at 14.4% in FY25, with more than 4,700 additional hires brought on board to help with the systemic correction.

The company has prioritised three projects for FY26 to boost sales and profitability. The first seeks to transform sales by improving leadership, the second focuses on big deals driven by AI to increase sales, and the third is the Fit4Future programme, which aims to optimise costs to boost profitability. In recent months, the company has strengthened its relationship with Arenco Group, UAE, to expedite the upgrade of its IT infrastructure. It has also collaborated with Google Cloud to enable business transformation through the use of agentic AI. 

As of March 2025, the company had 741 active clients. It is moving away from discretionary deals and toward longer-term, efficiency-driven ones. It also clocked a substantial $6 billion in order inflows, which is up 6% year-on-year. The company continues to perform well, and management expects to close more big deals in the upcoming quarters, particularly in retail.

Risk factor: The fact that LTIM's North America division regularly accounts for more than 70% of total revenue indicates a risk of customer and geographic concentration. Any regulatory changes in the region could have a significant impact on operations and affect its profitability.

Current price:  ₹783

Target price:  ₹1,110 in 16-24 months

Stop-loss:  ₹619

Why it’s recommended: Vedant Fashions, which was founded in 2002, is a market leader in men's Indian wedding and celebration attire based on sales and revenues. As of FY25, the company's retail space was 1.79 million square feet. It operated 662 exclusive brand outlets in 244 Indian cities and towns and another 16 in 12 cities in the US, UAE, Canada, and the UK. Manyavar, Twamev, Diwas, and Mebaz are among the company's well-known brands. Additionally, the company is growing its footprint in women's Indian wedding and celebration apparel through Mohey, the biggest brand in terms of outlets, with a pan-India presence.

In FY25, the company's income from operations increased 1.4% from ₹1,367.5 crore in FY24 to ₹1,386.5 crore, Ebitda was at ₹646.4 crore with a margin of 46.6% and PAT was at ₹388.5 crore with a margin of 28%. Client sales amounted to around ₹1,893 crore that year, representing a 2.2% increase. 

Also Read: NMDC’s prospects dampen as iron ore prices drop

Very few or nonexistent wedding dates nationwide in Q1 FY25 significantly affected the company's profitability in FY25, as did muted consumer sentiment. Nonetheless, retail sales increased 9.3% and like-to-like (L2L) sales increased 2.9% during the nine months to March 2025. In FY25, the company opened over 1.8 lakh square feet at gross where it doesn’t have a presence in existing markets.

Its main objectives for FY26 are to open a decent number of outlets before the end of the year and boost like-for-like sales. Mohey currently occupies roughly 2.5 lakh square feet, and management is focusing on Manyavar outlets to add Mohey flagships in the form of exclusive brand outlets. Management expects a decent rise in retail sales in the third quarter of FY26. The company promises to sign low-rent, high-productivity OC shops. The objective is to add very high-quality net retail space to the business, and the company expects retail inflation to decline in Q1 or Q2 of FY26 so that it may reinvest in the expansion of retail outlets.

Risk factor: The company's market share and pricing power may be hit by stiff competition from both well-known and upcoming companies in the ethnic and wedding-wear industry. Weddings, festivals, and other festive occasions are major sources of revenue. Seasonal variations and changes in the timing or scale of such events could lead to uneven sales and profitability.

Cipla Ltd (current price: 1,527)

Why it’s recommended: Strong market position, diversified product portfolio, operational efficiency, and positive industry outlook

Key metrics: P/E: 22.98 | 52-week high: ₹ 1,702.05 | Volume: ₹407.39 crore

Technical analysis: Given trendline breakout

Risk factors: Regulatory and compliance risks, economic sensitivity, management and governance risks

Buy at: ₹1,527

Target price: ₹1,680 in three months

Stop loss: ₹1,458

Apollo Hospitals Enterprise Ltd (current price: ₹7,114)

Why it’s recommended: Market leadership and brand equity, diversified healthcare ecosystem

Key metrics: P/E: 417.14 | 52-week high: ₹6,545 | Volume: ₹68.32 crore

Technical analysis: Possible trendline breakout

Risk factors: High capital expenditure

Buy at: ₹7,114

Target price: ₹7,900 in three months

Stop loss: ₹6,770

Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.

Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.

MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. Trade name: William O’Neil India Pvt. Ltd; Sebi Registration No.: INH000015543

Investments in securities are subject to market risks. Read all the related documents carefully before investing.

Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.

Download the Mint app and read premium stories

Log in to our website to save your bookmarks. It'll just take a moment.

You are just one step away from creating your watchlist!

Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.

Your session has expired, please login again.

You are now subscribed to our newsletters. In case you can’t find any email from our side, please check the spam folder.

This is a subscriber only feature Subscribe Now to get daily updates on WhatsApp