Upside potential is the expected positive increase in the value of an investment. This shows an investor’s potential profit. Evaluating upside potential entails examining market trends, financial performance, and external variables to predict a positive rise in investment value.
Here are the stocks with a potential upside of up to 28%;
Brigade Enterprises Ltd
Brigade Enterprises Ltd is a South Indian real estate developer located in Bengaluru that is growing its activities throughout India. It has completed over 250 buildings, aggregating to over 70 million sqft of built area in the residential, offices, retail, and hospitality sectors spanning Bengaluru and Mysuru, Chennai, Ahmedabad, Hyderabad, and Kochi.
With a market capitalization of Rs 19,813.24 crore, the shares were trading at Rs 857.80 per share, decreasing around 1.44 percent as compared to the previous closing of Rs 870.30 apiece.
ICICI Direct, one of the well-known brokerages in India, gave a ‘Buy’ call on the real estate stock with a target price of Rs 1100 apiece indicating a potential upside of 28 percent from Monday’s price of Rs 855.70 per share.
As per the brokerage, BEL anticipates strong sales momentum driven by its robust launch pipeline of approximately 10.8 million square feet (MSF) in the next four quarters, valued at over ₹10,000 crore. Additionally, a joint development agreement for a high-rise residential project in Chennai adds revenue potential of ₹2,000 crore, enhancing visibility.
Looking into Brigade Enterprises Ltd, the company’s revenue decreased by 43 percent, from Rs 820 crore in Q3FY23 to Rs 1,174 crore in Q3FY24. During the same period, net profit grew by 30 percent, from Rs 43 crore to Rs 56 crore.
KEC International Ltd
KEC International Ltd’s primary business is Engineering, Procurement, and Construction (EPC) of infrastructure goods, projects, and systems, as well as related operations for electricity transmission, distribution, and railway, among other EPC industries.
With a market capitalization of Rs 17,174.79 crore, the shares were trading at Rs 668.05 per share, increasing around 0.39 percent as compared to the previous closing of Rs 665.45 apiece.
Sharekhan, one of the well-known brokerages in India, gave a ‘Buy’ call on the Power stock with a target price of Rs 850 apiece indicating a potential upside of 27 percent from Monday’s price of Rs 668.05 per share.
As per the brokerage, in YTDFY24, the segment secured a robust order inflow of Rs. 7500 crore, driven by domestic orders from Power Grid Corporation of India and state utilities, along with expansion in the Middle East market. To meet increased demand, plans include capacity expansion in Dubai and setting up an integrated manufacturing line for internal consumption.
Looking into KEC International Ltd, the company’s revenue increased by 14 percent, from Rs 4,375 crore in Q3FY23 to Rs 5,007 crore in Q3FY24. During the same period, net profit grew by 438 percent, from Rs 18 crore to Rs 97 crore.
Written by:- Abhishek Singh
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