On Friday, domestic benchmark indexes closed in the red. The BSE Sensex fell 259.52 points, or 0.41%, ending the week at 62,979.37. Similarly, the NSE Nifty 50 fell 105.75 points, or 0.56%, to 18,665.50.
Meanwhile, here are six stocks in which the brokerages recommend an upside of up to 60%:
Hindustan Oil Exploration Company Ltd:
Hindustan Oil Exploration is the first private company in India to enter the field of oil and gas exploration. The company is primarily engaged in the exploration, development, and production of crude oil and natural gas in India, both onshore and offshore.ICICI Direct has a buy rating on the stock with a target price of Rs 260, which translates to an upside of 26% as compared to its share price of Rs 205.
Granules India Ltd:
Granules India is involved in the manufacturing and selling of Active Pharma Ingredients (APIs), Pharmaceutical Formulation Intermediates (PFIs), and Finished Dosages, company caters to domestic and international clients.ICICI Direct has a buy rating on the stock with a target price of Rs 360, which translates to an upside of 25% as compared to its share price of Rs 287.
JM Financial Ltd:
JM Financial Ltd helps in capital raising, mergers & acquisitions, private equity, and restructuring advisory to a diversified client base of Indian and multinational corporations in the domestic and international markets.
ICICI Direct has a buy rating on the stock with a target price of Rs 95, which translates to an upside of 33% as compared to its share price of Rs 71.50.
Greenply Industries Ltd (GPIL):
Greenply Industries Limited is amongst the leading plywood manufacturers in India with a 26% share of the organised market. Greenply offers a wide range of panel products including plywood, block boards, decorative veneers, and many more.YES Securities has a buy rating on the stock with a target price of Rs 250, which translates to an upside of 44% as compared to its share price of Rs 174.
Bharat Electronics Ltd:
BEL is a state-owned aerospace and defence company,it primarily works in the field of electronic equipment requirements of the Indian Defence Services.ICICI Securities Limited has a buy rating on the stock with a target price of Rs 150, which translates to an upside of 25% as compared to its share price of Rs 120.
Coal India Ltd:
Coal India Ltd is the largest government-owned coal producer in the world. It is also the seventh largest employer in India that caters to industries like power and steel,cement, fertilisers, and many others. Nuvama Institutional Equities has a buy rating on the stock with a target price of Rs 361, which translates to an upside of 60% as compared to its share price of Rs 226.
Written by Omkar C
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