The Indian Benchmark Indices closed in the green on Friday with the Sensex gaining around 180 points and closing at 72,026.15 and the Nifty 50 index gaining around 52 percent and closing at 21,710.80.
In the last five trading sessions, the Sensex has, contrary to today’s movement, dipped approximately 0.20 percent while the Nifty 50 index had a flat movement rising approximately 0.10 percent.
In congruence with the market movements, listed below are six stocks to buy now for a potential upside of up to 57 percent:
Poonawalla Fincorp Limited
With a market capitalization of Rs 35,327.46 crores, the stocks of Poonawalla Fincorp Limited, an NBFC company providing consumer and MSME financing, etc, closed at Rs 459.55 on Friday, gaining around 2 percent as compared to the previous closing levels of Rs 450.40 apiece.
Axis Securities gave a ‘Buy’ recommendation on the company’s stock with a target price of Rs 541 indicating a gain of around 18 percent as compared to the prevailing stock price levels.
GAIL (India) Limited
With a market capitalization of Rs 1.08 lakh crores, the stocks of GAIL (India) Limited, an integrated natural gas company in India, closed at Rs 163.55 on Friday, gaining around 0.20 percent as compared to the previous closing levels of Rs 163.20 apiece.
Motilal Oswal gave a ‘Buy’ recommendation on the company’s stock with a target price of Rs 195 indicating a gain of around 20 percent as compared to the prevailing stock price levels.
Happiest Minds Technologies Limited
With a market capitalization of Rs 13,857.01 crores, the stocks of Happiest Minds Technologies Limited, a next-generation Information Technology (IT) solutions & services company, closed at Rs 910 on Friday, gaining around 1.10 percent as compared to the previous closing levels of Rs 900.45 apiece.
Axis Direct gave a ‘Buy’ recommendation on the company’s stock with a target price of Rs 1,100 indicating a gain of around 21 percent as compared to the prevailing stock price levels.
Mahindra & Mahindra Limited
With a market capitalization of Rs 2.04 lakh crores, the stocks of Mahindra & Mahindra Limited, a well-known and diversified automobile company based in India, closed at Rs 1,641.70 on Friday, a flat movement as compared to the previous closing levels of Rs 1,641.40 apiece.
Motilal Oswal gave a ‘Buy’ recommendation on the company’s stock with a target price of Rs 2,005 indicating a gain of around 22 percent as compared to the prevailing stock price levels.
IIFL Finance Limited
With a market capitalization of Rs 24,463.67 crores, the stocks of IIFL Finance Limited, engaged in the business of loans and mortgages, closed at Rs 641.55 on Friday, gaining around 1.10 percent as compared to the previous closing levels of Rs 634.90 apiece.
Motilal Oswal gave a ‘Buy’ recommendation on the company’s stock with a target price of Rs 800 indicating a gain of around 25 percent as compared to the prevailing stock price levels.
I G Petrochemicals Limited
With a market capitalization of Rs 1,604.41 crores, the stocks of I G Petrochemicals Limited, engaged in the business of manufacturing and selling organic chemicals in India, closed at Rs 521 on Friday, gaining around 1.50 percent as compared to the previous closing levels of Rs 513.55 apiece.
Keynote Capitals gave a ‘Buy’ recommendation on the company’s stock with a target price of Rs 819 indicating a gain of around 57 percent as compared to the prevailing stock price levels.
Written by Amit Madnani
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