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Domestic benchmark indices slipped after opening higher on Thursday. Asian markets were steady but fragile and investors are worried about the interest rate hikes by the US Fed. At 11:32 AM, the NSE Nifty 50 was trading at 17911.65 points, up 28.60 points or 0.16%, while the BSE Sensex was at 60069 points, down 0.46% or 277 points. 

Here are a few stocks recommended by brokerages for an upside of up to 40%, amid a volatile market: 

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DCB Bank Ltd 

ICICI Securities has a buy call on the shares of DCB Bank with a target price of ₹ 145.00. The shares are trading at ₹111.80 apiece on the National Stock Exchange. This indicates an upside of 29.70%. The time period given by the analyst is one year when the bank can reach the defined target. 

The brokerage in its research report said that the bank’s growth in the last three years was impacted sharply due to corporate book consolidation in FY19 and due to the pandemic in FY20-FY21. It said that DCB Bank’s credit growth was subdued, but its profitability remained largely stable. It added that the bank’s return on assets is growing.

Further, it has added 50 new branches and employed 2,000 people indicating its growth-oriented approach going forward. 

Prestige Estates Projects Ltd 

Motilal Oswal has a buy rating on the shares of Prestige Estates Projects Limited with a target price of ₹ 675.00 apiece. This translates to an upside of 39.82% as compared to the current share price of ₹ 482.75. 

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The brokerage in its report highlighted that the company has a robust residential and commercial pipeline. In addition, the company has revamped its balance sheet which was an investor concern for a while. Sector tailwinds, a robust project pipeline and exposure to major cities in India should help the company to sustain a 100-120 b pre-sales run rate. 

Written by Simran Bafna

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