The market rose for the sixth straight day to close at nearly a 3-month high. Indian benchmark indices ended Friday’s session on a higher note with the Nifty 50 surpassing the crucial 16700-mark.
The BSE Sensex was up 390.28 points or 0.70% and closed at 56,072.23. While the NSE Nifty 50 was up 114.20 points or 0.69% and ended at 16,719.50.
Amid the rising markets, here are some of the stocks recommended by brokers for an upside of up to 52%.
Deepak Nitrite Limited
JM Financial has a buy call on Deepak Nitrite Limited for 12-18 Months. It is an Indian chemical manufacturing company. It is a leading manufacturer of organic, inorganic, fine, and specialty chemicals.
- CMP: ₹ 1,813
- Target: ₹ 2760
- Upside: 52%
Tata Motors Limited
ICICI Securities has a buy call on Tata Motors Limited Ltd for 12-18 Months. Part of the Tata group, it is an Indian multinational automotive manufacturing company. It also stands as the largest EV player in India.
- CMP: ₹ 454.25
- Target: ₹ 680
- Upside: 50%
IndiaMART InterMESH Ltd
HDFC Securities has a buy call on IndiaMART InterMESH Ltd. It is an Indian e-commerce company that provides B2B and customer-to-customer sales services via its web portal. It has about 60% market share in India.
- CMP: ₹ 4,067
- Target: ₹ 5,700
- Upside: 40%
Laurus Labs Ltd
ICICI Direct has a buy call on Laurus Labs Ltd for 12-18 Months. It is an Indian multinational pharma and biotech company with a significant focus area including active pharma ingredients, finished dosage forms, synthesis, and biotechnology.
- CMP: ₹507
- Target: ₹690
- Upside: 37%
MM Forgings Ltd
ICICI Direct has a buy call on MM Forgings Ltd for 12-18 Months. It is engaged in manufacturing Steel Forgings in raw, semi-machined and fully machined stages in various grades of Carbon, Alloy, Micro-Alloy, and Stainless steel.
- CMP: ₹ 970
- Target: ₹ 1250
- Upside: 30%
Sbi Life Insurance Company Ltd
Kotak Securities has a buy call on Sbi Life Insurance Company. It is an Indian life insurance company that was started as a joint venture between the State Bank of India (SBI) and French financial institution BNP Paribas Cardif.
- CMP: ₹ 1,164
- Target: ₹ 1500
- Upside: 30%
Written By- Anoushka Roy
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