Here's why Maruti Suzuki, 2 other stocks are on analysts' buy list today

Stocks to Buy Today: Ajit Mishra of Religare Broking recommends a buy on Maruti Suzuki, Manappuram Finance and Petronet LNG on Friday, May 2, 2025.

Market View  Markets remained subdued for yet another session and ended largely flat. After a muted start, the Nifty traded within a narrow range on the weekly expiry day and eventually settled at 24,334.  Sectoral trends were mixed, with realty and pharma showing strength, while energy and banking edged lower.  Pressure was more pronounced in the broader markets, as the midcap and smallcap indices declined between 0.9 per cent and 2 per cent.  The Nifty is currently in a consolidation phase, facing resistance near the 24,400 mark. However, rotational buying in heavyweight stocks across sectors is helping to cushion the downside. Looking ahead, markets will take cues from global developments on Friday, particularly the US GDP data and corporate earnings.  In this context, we continue to recommend a stock-specific trading approach, with a focus on buy-side opportunities. 

Stocks Recommendations

 

Manappuram Finance Limited | LTP:  230.85 | Buy | Target: 248 | Stop-loss: 222

  Manappuram Finance stock has been trading in a steady uptrend and is currently hovering near its record high. Over the past month, it has formed a fresh buying pivot following a narrow range consolidation between the 220–240 levels, and it now appears poised to resume its prevailing trend. Traders can use this phase to accumulate fresh positions within the mentioned range. 

Maruti Suzuki India Limited | LTP: 12257 | Buy | Target: 12900 | Stop-loss: 11850

  We are witnessing significant traction across rate-sensitive sectors, with the auto segment also beginning to participate in the rally. Among the key stocks, Maruti Suzuki is presenting a fresh buying opportunity. After spending two months in a consolidation range, it has broken out with above-average volumes. Additionally, the stock has reclaimed its major moving averages, further reinforcing the positive outlook. All these factors indicate a steady uptrend going forward. 

Petronet LNG Limited | LTP: 313.75 | Buy | Target: 335 | Stop-loss: 302

  Petronet LNG Share has ended its 8-month-long corrective phase by breaking out of its declining channel. It formed a double bottom pattern around the 270 level before rebounding sharply over the past month. Currently, the stock has established a fresh buying pivot while holding firmly above the support zone formed by its major moving averages ribbon.  (Disclaimer: This article is by Ajit Mishra, SVP-research at Religare Broking. Views expressed are his own.)