After a sharp rebound in March, Markets turned volatile in April. The US Fed hiked rates, energy prices surged and supply chain disruptions led to a spike in inflation. These trends have continued in May as well. However, experts expect a sharp economic rebound.
Here are two stocks that can give multibagger returns as recommended by Angel One:
Stove Kraft Limited
- CMP: ₹ 580.90
- Target Price: ₹ 1050.00
- Upside: 80.75%
- 52-week high: ₹ 1,044.95
- 52-week low: ₹ 445.60
Stove Kraft Limited reported total revenue of ₹298 crores in December 2021, up 1.1% year-on-year, as against ₹ 294.70 crores in December 2020. Its revenue for the 9-month period stood at ₹ 875 crores up 40.30% as against ₹623.50 crores, for the corresponding 9-month period a year ago.
The company is engaged in the business of manufacturing and selling Kitchen and Home appliances like pressure cookers, LPG stoves, non-stick cookware and so on under the brand names ‘Pigeon’ and ‘Gilma’.
The company has outperformed the industry and its peers in the last two years in the pressure cookers and cookware segment.
Angel One expects Stove Kraft Limited to report a healthy top-line and bottom-line growth on the back of new product launches, a strong brand name and a wide distribution network.
Sobha Ltd
- CMP: ₹ 546.00
- Target: ₹ 1050.00
- Upside: 92.30%
- 52-week high: ₹ 1,133.70
- 52-week low: ₹ 483.70
The realty firm reported a 51% increase in its Q3FY22 consolidated net profit. Its net profit stood at ₹ 21.6 crores in the corresponding period a year ago. Further, its total income rose marginally to ₹ 697.5 crores in the third quarter of this fiscal from ₹ 696.3 crores in the corresponding period a year ago.
Sobha Limited operates Residential and commercial real estate along with the contractual business. 70% of the company’s residential pre-sales come from the Bangalore market which is one of the IT hubs in India.
Angel One expects new hiring in the IT industry that will increase residential demand in the South Indian market. Customers now prefer branded players like Sobha developers.
The company is expected to launch 17 new projects/ phases spread over 12.56 mn sq ft across various geographies. A majority of the launches will be coming from existing land banks. Currently, the company has about 200 mn sq ft of the area that is ready for sale.
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