Benchmark indices ended in the red on Friday amid global recession worries stoked by weak US consumer data dampened investor sentiments. The BSE Sensex index ended 237 points or 0.39% lower at 60,662, while Nifty50 fell 80 points or 0.44% to settle at 18,027.
While the markets are turbulent, here are four fundamentally strong stocks under ₹ 1000 to buy for an upside of up to 32%:
Axis Bank Ltd
The shares of Axis Bank gained marginally on Friday and closed for the week at ₹ 929.50 apiece on the National Stock Exchange (NSE). Brokerage firm Sharekhan is bullish on the stock amid expectations of sustained year-on-year growth in advances and a stake purchase in Max Life Insurance Company. It has given a target of ₹ 1,140 on the stock, which translates to an upside of 22.65% as compared to its share price.
Sun Pharmaceutical Industries Limited
The shares of the pharma company ended at ₹ 1032.00 apiece, down 0.82% on the NSE. Macquarie is upbeat on the shares of Sun Pharmaceuticals. It maintained an ‘outperform’ rating on the company with a target price of ₹ 1,275 per share. This suggests an upside of
23.54% as compared to its share price. The brokerage said its market share in CEQUA continues to inch up in the dry eye market.
Tata Consumer Products Ltd
The food and beverage company’s shares settled at ₹ 738.50 apiece on the NSE on Friday. Brokerage firm Sharekhan has recommended buying the shares of Tata Consumer for a target price of ₹ 925 apiece. This implies an upside of 25.25% as compared to its current share price.
ICICI Bank Ltd
The private bank’s shares ended at ₹ 871.65 apiece, up 0.63% on Friday’s closing bell. Axis Securities has buy call on ICICI Bank with a target price of ₹ 1150. This suggests an upside of 31.93% as compared to its share price.
Written by Simran Bafna
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