A company that has strong business tends to have robust fundamentals. These companies tend to survive even when they hit turmoil. Here are four fundamentally strong stocks to add to your watchlist for an upside of up to 52%:
Jindal Steel & Power Limited
The shares of Jindal Steel & Power were trading 3 per cent lower at Rs 454 levels till the afternoon on Friday. In the span of a month, the stock has gained approximately 9 per cent. So far this year, the stock has delivered 18 per cent YTD.
In Q1FY23, the company reported a total revenue of Rs 13,045 crores as compared to Rs 10,609 crores in the same quarter the previous year. The net profit in the period grew exponentially to Rs 2,770 crores up from Rs 14 crores in Q1FY22.
Yes Securities has a ‘Buy’ call on Jindal Steel & Power with a target price of Rs 512 which represents an upside of 13% from the current levels.
Jindal Steel & Power Ltd is one of India’s leading steel producers with a significant presence in sectors like mining and power generation.
Indraprastha Gas Limited
The shares of Indraprastha Gas were trading 1.5 per cent lower at Rs 420 levels till the afternoon on Friday at Rs 454 levels. So far this year, the stock has shed approximately 12 per cent YTD.
In Q2FY23, the company reported a total revenue of Rs 3,922 crores as compared to Rs 1,831 crores in the same quarter the previous year. The net profit in the period stood at Rs 357 crores as against Rs 365 crores in Q2FY22.
HDFC Securities has a ‘Buy’ call on Indraprastha Gas with a target price of Rs 510 per share which represents an upside of 22% from the current levels.
Indraprastha Gas Limited is an Indian natural gas distribution company that supplies natural gas as cooking and vehicular fuel.
Crompton Greaves Consumer Electricals Limited
The shares of Crompton Greaves Consumer Electricals ended 3.8 per cent lower at Rs 352 levels on Friday. In the past five days, the stock has shed 7 per cent. In a year, it has declined by 24 per cent.
In Q2FY23, the company reported a total revenue of Rs 1,699 which increased from Rs 1,385 crores in the same quarter the previous year. The net profit in the period stood at Rs 130 crores which slipped from Rs 158 crores in Q2FY22.
HDFC Securities has a ‘Buy’ call on Crompton Greaves Consumer Electricals with a target price of Rs 500 per share which represents an upside of 42% from the current levels.
Crompton Greaves Consumer Electricals Limited is an Indian electrical equipment company that manufactures LED lighting, fans, pumps, and household appliances like water heaters, air coolers, and kitchen appliances.
Chambal Fertilisers & Chemicals Limited
The shares of Chambal Fertilisers & Chemicals closed 2.3 per cent lower at Rs 316 levels on Friday. In the past five days, the stock has shed 4 per cent. In a year, it has declined by 14 per cent.
In Q1FY23, the company reported a total revenue of Rs 7,291 crores as compared to Rs 3,539 crores in the same quarter the previous year. The net profit in the period grew sideways to Rs 314 crores as compared to Rs 313 crores in Q1FY22.
Prabhudas Lilladher has a ‘Buy’ call on Chambal Fertilisers & Chemicals with a target price of Rs 480 which represents an upside of 52% from the current levels.
Chambal Fertilisers and Chemicals Ltd, part of the KK Birla group, is an Indian agrochemicals manufacturing. It is also the largest manufacturer of Urea in the private sector with an installed capacity of 1.5 million tonnes per annum.
Written by Anoushka Roy
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