The prospective growth in value of an investment, measured in monetary or percentage terms, is referred to as its upside. Analysts frequently employ either technical or fundamental analysis approaches to forecast the future price of an investment, notably stock prices. A bigger upside indicates that the stock is worth more than the current market price.
Here is the list of five stocks with bullish upside potential of up to 17 percent given by brokerages:
Gail India Ltd
Gail India Limited is a natural gas retailing, distribution, and marketing sector leader with a concentration on city gas distribution. With a market capitalization of Rs 1.05 lakh crore, the shares were trading at Rs 160.55 per share, decreasing around 3.46 percent as compared to the previous closing price of Rs 166.30 apiece.
Motilal Oswal, one of the well-known brokerages in India, gave a ‘Buy’ call on the Petroleum stock with a target price of Rs 195, indicating a potential upside of 21 percent from Tuesday’s opening price of Rs 160.55 per share.
Motilal forecasts a 32% CAGR in GAIL’s EBITDA over FY23-26E, driven by a 9% increase in transmission volume, an improvement in petchem margins as low global stocks drive re-stocking demand, and the start-up of 3,892 km of gas transmission pipeline and 560ktpa of petchem capacity at the standalone level.
Coal India Ltd is primarily involved in the mining and production of coal, as well as the operation of coal washeries. With a market capitalization of Rs 2.38 lakh crore, the shares were trading at Rs 387.00 per share, increased around 1.36 percent as compared to the previous closing price of Rs 381.80 apiece.
Motilal Oswal, one of the well-known brokerages in India, gave a ‘Buy’ call on the stock with a target price of Rs 430, indicating a potential upside of 10 percent from Tuesday’s opening price of Rs 387 per share.
According to the brokerage, the Ministry of Power has set an FY24 energy generation target of 1,750bu (a 7.2% YoY increase), with thermal power accounting for more than 75% of the total. This gives COAL long-term growth visibility.
Siemens Limited provides products, integrated solutions for industrial applications for manufacturing industries, drives for process industries, intelligent infrastructure and buildings, and efficient and sustainable fossil fuel power generation.
With a market capitalization of Rs 1.41 lakh crore, the shares were trading at Rs 3,982.55 per share, decreased around 1.06 percent as compared to the previous closing price of Rs 4,025.30 apiece.
Geojit BNP Paribas, one of the well-known brokerages in India, gave a ‘Buy’ call on the stock with a target price of Rs 4,600, indicating a potential upside of 15 percent from Tuesday’s opening price of Rs 3,982.55 per share.
According to Geojit BNP Paribas, SIEM finished its fiscal year ending September 23 with record order inflows of Rs 464 billion, up 139% year on year. This includes Rs 263.1 billion in orders for 9000HP locomotives. Despite this, basic orders were up 20% year on year.
Varun Beverages Ltd manufactures and sells a variety of carbonated soft drinks, non-carbonated beverages, and bottled water. With a market capitalization of Rs 1.61 lakh crore, the shares were trading at Rs 1,240.30 per share, increased around 0.14 percent as compared to the previous closing price of Rs 1,242.00 apiece.
Axis Direct one of the well-known brokerages in India, gave a ‘Buy’ call on the stock with a target price of Rs 1,450, indicating a potential upside of 17 percent from Tuesday’s opening price of Rs 1,240.30 per share.
Axis Direct stated that a notable market opportunity lies in Africa, where beverage consumption stands at 1,186 million cases, nearly 50% of that in India. This African market is projected to grow at a CAGR of 5.3% from 2022 to 2027, reaching 1,537 million cases.
Persistent Systems provides software engineering and strategy services to assist organizations in implementing and modernizing their operations. With a market capitalization of Rs 55,912.17 crore, the shares were trading at Rs 7,268.40 per share, decreased around 0.73 percent as compared to the previous closing price of Rs 7,322.10 apiece.
HDFC Securities one of the well-known brokerages in India, gave a ‘Buy’ call on the stock with a target price of Rs 8,530, indicating a potential upside of 17 percent from Tuesday’s opening price of Rs 7,268.40 per share.
According to the brokerage, PSYS has continuously acquired transactions worth more than USD 50 million, with a large percentage concentrating on managed services and cost optimization (70 percent of total sales).
Furthermore, PSYS has also effectively expanded its offshore delivery footprint, expanding into tier-2 cities, indicating both offshore-led growth and an optimum offshore cost basis.
Written by:- Abhishek Singh
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