On Friday, the Benchmark Indices closed in the red, as the Sensex dropped by 453.85 points (0.62 percent), settling the week at 72,643.43, while the Nifty 50 index fell by 123.30 points (0.56 percent), ending the week at 22,023.35.
In the last five trading sessions, the Sensex declined around 1.99 percent and the Nifty 50 index declined by 2.09 percent.
Listed below are six stocks in which the brokerages recommended an upside of up to 46%:
Happy Forgings Ltd
Happy Forgings Limited is specialised in designing and manufacturing heavy forgings and high-precision machined components.
Motilal Oswal gave a ‘Buy’ recommendation for the company’s stock with a target price of Rs 1,125, indicating a potential upside of around 35 percent compared to the current stock prices prevailing in the market.
Apollo Tyres Ltd
Apollo Tyres engages in the manufacturing of automatic bias and radial tyres, and tubes. It has plants in Kochi, Vadodara, Pune, and Chennai. The product profile includes prominent tyre brands in the T&B, light truck, passenger car, and farm vehicle segments in India.
Motilal Oswal gave a ‘Buy’ recommendation for the company’s stock with a target price of Rs 620, indicating a potential upside of around 31 percent compared to the current stock prices prevailing in the market.
BSE Ltd
The Bombay Stock Exchange is a stock exchange company located in Mumbai, The company provides a trading platform for stocks, currencies, debt instruments, derivatives, and mutual funds.
Jefferies gave a ‘Buy’ recommendation for the company’s stock with a target price of Rs 3,000, indicating a potential upside of around 46 percent compared to the current stock prices prevailing in the market.
Hindustan Petroleum Corporation Ltd
Hindustan Petroleum Corporation Ltd. operates India’s largest lube refinery, the company is engaged in the business of refining crude oil, marketing petroleum products, and producing hydrocarbons.
ICICI Securities gave a ‘Buy’ recommendation for the company’s stock with a target price of Rs 625, indicating a potential upside of around 34 percent compared to the current stock prices prevailing in the market.
Shree Cement Ltd
Shree Cement is engaged in manufacturing and selling of cement and cement related products and is one of the lowest-cost producers in the country. It is the 3rd largest cement producer in India with an installed capacity of 46.4 MTPA.
Citi gave a ‘Buy’ recommendation for the company’s stock with a target price of Rs 30,000, indicating a potential upside of around 20 percent compared to the current stock prices prevailing in the market.
Cholamandalam Financial Holdings Ltd
Cholamandalam Financial Holdings Limited (CFHL) is a part of the Murugappa Group. The company is a core investment company registered with the RBI and offers vehicle finance, home loans, and loans against property to a range of its customers.
Jefferies gave a buy call on Cholamandalam Financial Holdings Ltd. with a target price of ₹1,400 per share, representing an upside of 37 percent from Friday’s close price of ₹1,024 per share.
Written by Omkar Chitnis
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
