India has become the fifth most valued stock market in the world after markets from the US, China, Japan, and Hong Kong. Equity markets, especially in India, are being impacted by the Russia-Ukraine conflict, which has resulted in sustained selling by foreign institutional investors (FII).
Amid changes, ICICI Securities has recommended these 6 stocks that investors can hold for a period of 12 to 18 months for stellar returns.
Page Industries
- Call: Hold (11 March 2022)
- Duration: 12 to 18 months
- CMP: ₹ 41,488
- Entry Price: ₹ 41,100
- Target Price: ₹ 45,400
- Upside: 10.46%
Page Industries is the exclusive licensee of Jockey, a premium innerwear and leisurewear brand. The company’s share price has grown by ~3x over the past five years. ICICI Securities values the company at 45400 i.e. 65x FY24E EPS.
Titan Company Limited
- Call: Buy (11 March 2022)
- Duration: 12 to 18 months
- CMP: ₹ 2,493.60
- Entry Price: ₹ 2,481.00
- Target Price: ₹ 2,960
- Upside: 19.31%
Titan Company has transformed from a watch-maker to an enviable consumer discretionary brand, with jewellery being the leading vertical. Titan has performed exceptionally in this space and its stock price has appreciated by ~46% CAGR in the last five years.ICICI Securities values Titan at 2960 i.e. 68x FY24E EPS
Tata Consultancy Services
- Call: Buy (11 March 2022)
- Duration: 12 to 18 months
- CMP: ₹ 3,599.15
- Entry Price: ₹3,965.00
- Target Price: ₹4,600
- Upside: 16.02%
Tata Consultancy Services is engaged in the business of IT consulting & software. Its share price has increased by 4.30% in the past five days.
State Bank of India Limited
- Call: Buy (11 March 2022)
- Duration: 12 to 18 months
- CMP: ₹ 470.35
- Entry Price: ₹ 471.75
- Target Price: ₹ 650
- Upside: 37.78 %
The Stae Bank of India is a public sector bank and is one of the largest banks in India. Its share price has increased by 2x in the past five years. ICICI Securities values the bank at ~1.22x FY24E ABV and subsidiaries at ~| 192 per share to arrive at a revised target price of ₹ 650.
Mahindra & Mahindra Limited
- Call: Buy (11 March 2022)
- Duration: 12 to 18 months
- CMP: ₹ 734.80
- Entry Price: ₹ 850.00
- Target Price: ₹1125
- Upside: 32.35 %
Mahindra and Mahindra Limited is an Indian automotive manufacturer and is a part of the Mahindra Group. It is one of the largest vehicle manufacturers by production in India. Its share price increased by 6.06% in the last 5 days. ICICI Securities has given a buy rating on the stock.
Escorts Limited
- Call: Buy (07 March 2022)
- Duration: 12 to 18 months
- CMP: ₹ 1818.20
- Entry Price: ₹ 1840.00
- Target Price: ₹ 2200
- Upside: 19.57 %
Escorts Limited is the fourth largest manufacturer of tractors in India. Its stock price has grown ~35% CAGR over the last five years and ICICI Securities retains a buy rating on the stock, as Kubota has joined the company as a co-promoter. It values Escorts at unchanged SOTP-based TP of ₹ 2,200 (25x P/E on core FY23E-24E average EPS, 10% discount on treasury shares).
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