The company’s stock demonstrates significant upside potential, driven by strong fundamentals, favorable market conditions, and promising growth prospects. With robust financial performance, strategic investments, and a promising future outlook, investors can anticipate considerable returns, making it an attractive opportunity for growth-oriented portfolios.
Here are the stocks with upside potential of up to 34%:
Lupin Ltd
Lupin is a worldwide pharmaceutical firm based in Mumbai that is driven by innovation. Lupin produces and commercializes a diverse variety of branded and generic formulations, biotechnology products, and APIs in over 100 markets in the United States.
With a market capitalization of Rs 73,321.01 crore, the shares were trading at Rs 1,609.05 apiece, increasing around 0.28 percent as compared to the previous closing price.
Axis Securities, one of the well-known brokerages in India, gave a ‘Buy’ call on the Pharma stock with a target price of Rs 1,785 apiece indicating a potential upside of 10 percent from Thursday’s price of Rs 1,609.05 per share.
As per the Brokerage, Lupin is well-positioned for growth in the US market with its unique products and first-mover advantage, which may increase gross margins by 150 basis points over the next two years.
Additionally, prospective releases such as Xyrem, Tolvaptan, and others, as well as double-digit growth in India and a recovery in the API business, point to additional potential.
The company’s revenue stood at Rs 5,197 crore in Q3FY24, during the same time frame, net profit stood at Rs 619 crore.
CreditAccess Grameen Ltd
CreditAccess Grameen Limited is registered as a non-deposit accepting NBFC – Microfinance Institution with the RBI. It is engaged in providing microfinance services to women who are enrolled as members and organized as Joint Liability Groups.
With a market capitalization of Rs 23,398.13 crore, the shares were trading at Rs 1,468.10 apiece, increasing around 3.34 percent as compared to the previous closing price.
Axis Securities, one of the well-known brokerages in India, gave a ‘Buy’ call on the Fintech stock with a target price of Rs 1,970 apiece indicating a potential upside of 34 percent from Thursday’s price of Rs 1468.10 per share.
Axis favors CAGrameen despite its premium valuations, citing its consistent outperformance among microfinanciers. They highlight its strong fundamentals, including sufficient capitalization, operational efficiency, competitive margin profile, and robust asset quality. Axis expects CAGrameen to sustain healthy returns and revise earnings estimates upwards for FY24-26E by 3-5%.
The company’s revenue stood at Rs 1,292 crore in Q3FY24, during the same time frame, net profit stood at Rs 353 crore.
CIE Automotive India Ltd
CIE Automotive Limited is a subsidiary of CIE Automotive S.A. in Spain. Mahindra Vehicle Manufacturing Ltd. is a major shareholder in the firm. The company manufactures and sells automobile components to OEMs and other clients in India and abroad.
With a market capitalization of Rs 18,302.34 crore, the shares were trading at Rs 483 apiece, decreasing around 0.42 percent as compared to the previous closing price.
Axis Securities, one of the well-known brokerages in India, gave a ‘Buy’ call on the auto stock with a target price of Rs 565 apiece indicating a potential upside of 24 percent from Thursday’s price of Rs 483 per share.
Brokerage expresses bullish sentiment on the company’s growth outlook, citing factors such as operational performance, expansion of EV product portfolio, strong order book in the European EV market, steady growth in Indian/Mexican operations, robust free cash flow generation, and capacity expansion to meet demand from Indian OEMs. They anticipate a gradual recovery in European operations from H2CY24.
The company’s revenue stood at Rs 2,240 crore in Q3FY24, during the same time frame, net profit stood at Rs 169 crore.
Written by:- Abhishek Singh
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