We are on the last day of the month of November and for most people, it’s ‘Salary Day’ and for most, it is also ‘Investment Day’. While existing investors look to diversify their portfolios, new investors enter the market to benefit from the rapid growth and exponential returns on their investments.
Out of the many categories of stocks, Blue-chip stocks are considered a safer choice. It is because they typically have solid balance sheets, steady cash flows, and proven business models. Along with this, the stock prices increase steadily and give significant returns.
Here are 3 Nifty 50 Blue Chip stocks that analysts recommend for an upside of up to 33%:
Tata Steel Limited
The shares of Tata Steel Limited gained more than 1 per cent on Thursday morning and were trading at Rs 108 levels. In the past month, the stock has jumped by approximately 7 per cent. However, the stock has delivered high returns in the longer time frame. In two years, the stock has spiked from Rs 42 in November 2020 to the current levels logging a multi-bagger return of 152 per cent.
Tata Steel Limited, part of the Tata group, is an Indian multinational steel-making company that ranks among the top steel-producing companies in the world with an annual crude steel capacity of 34 million tonnes.
ICICI Direct has a buy call on the Nifty 50 stock with a target price of Rs 125 per share which represents an upside of 16% from the current levels.
Axis Bank Limited
The shares of the bank inched up marginally to trade at Rs 905 levels in the early hours of Thursday. In the past six months, the stock has gained approximately 32 per cent. In the span of two years, the stock has increased by 82 per cent as the share price has increased from Rs 492 in 2020 around the same time to the current levels.
Axis Bank Limited is an Indian bank providing financial services to large and mid-size companies, SMEs, and retail businesses.
Prabhudas Lilladher has a buy call on the Nifty 50 bank stock with a target price of Rs 1,100 per share which represents an upside of 22% from the current levels.
Bajaj Finance Limited
The shares of Bajaj Finance inched up marginally at Rs 6,741 levels on Thursday morning. In the past six months, the stock has gained approximately 13 per cent. Similar to other blue chip stocks, Bajaj Finance has delivered high returns in a longer time frame. In the past five years, the stock has zoomed from Rs 1,711 to the current levels logging a multibagger return of 295 per cent.
Bajaj Finance is an Indian non-banking financial company that is mainly engaged in the business of lending across retail, SME, and commercial customers with a significant presence in urban and rural India.
JM Financial has a buy call on the Nifty 50 stock with a target price of Rs 9,000 per share which represents an upside of 34% from the current levels.
Written by Anoushka Roy
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.
