Fall in the select US banks added to the overall Global uncertainty regarding the quantum of the next Fed rate hike. US jobs data that would be released late on Friday will also be crucial for the upcoming Fed meeting as it could also influence the Fed rate decision. Expect the volatility to continue next week as well. On the domestic front, Feb inflation data would be released while on the global front, the ECB meeting would be a key event to watch out for. -Motilal Oswal Financial Services
Listed below are 8 stocks recommended by analysts for an upside of up to 54%:
Mahindra & Mahindra Ltd
Mahindra & Mahindra Ltd, incorporated in 1945, is one of the most diversified automobile companies in India with a presence across 2-wheelers, 3-wheelers, PVs, CVs, etc. It has a presence across financial services, auto components, hospitality, infrastructure, retail, logistics, and many other segments through its subsidiaries and group companies.
Motilal Oswal has a ‘Buy’ call on Mahindra & Mahindra Ltd with a target price of Rs 1,525 per share which represents an upside of 24 percent from the current levels of Rs 1,228.
Astral Ltd
Astral Poly Technik Ltd was established in 1996. It aims to manufacture pro-India plumbing and drainage systems in the country and has also forayed into an adhesive business over years.
ICICI Securities has a ‘Buy’ call on Astral Ltd with a target price of Rs 2,373 per share which represents an upside of 25 percent from the current levels of Rs 1,905.
Aditya Birla Capital
Aditya Birla Capital Limited, the holding company for the financial services businesses of the Aditya Birla Group, is a universal financial solutions group catering to the diverse financial needs of its customers across their life stages.
Emkay Global has a ‘Buy’ call on Aditya Birla Capital with a target price of Rs 200 per share which represents an upside of 30 percent from the current levels of Rs 154.
Hindalco Industries Ltd
Hindalco Industries Ltd, Incorporated in 1958, is a flagship company of the Aditya Birla Group. The Co and its subsidiaries are primarily engaged in the production of Aluminium and Copper. It is also engaged in the manufacturing of aluminium sheet, extrusion, and light gauge products for use in packaging markets like food & beverage, can and foil products, etc.
JM Financial has a ‘Buy’ call on Hindalco Industries Ltd with a target price of Rs 530 per share which represents an upside of 31 percent from the current levels of Rs 406.
TTK Prestige Ltd
TTK Group, founded in 1928, is India’s largest kitchenware company. The company is among the leading brands in the kitchen equipment space, especially in the pressure cooker segment.
ICICI Securities has a ‘Buy’ call on TTK Prestige Ltd with a target price of Rs 1,000 per share which represents an upside of 31 percent from the current levels of Rs 765.
Axis Bank Ltd
Axis Bank is the third largest private sector bank in India. The Bank offers the entire spectrum of financial services to customer segments covering Large and Mid-Corporates, MSME, Agriculture, and Retail Businesses.
Emkay Global has a ‘Buy’ call on Axis Bank Ltd with a target price of Rs 1,250 per share which represents an upside of 47 percent from the current levels of Rs 851.
ICICI Bank Ltd
ICICI Bank is a large private sector bank in India offering a diversified portfolio of financial products and services to retail, SME, and corporate customers. The Bank has an extensive network of branches, ATMs, and other touch-points.
Emkay Global has a ‘Buy’ call on ICICI Bank Ltd with a target price of Rs 1,250 per share which represents an upside of 48 percent from the current levels of Rs 842.
Prestige Estates Projects Ltd
JM Financial has a ‘Buy’ call on Prestige Estates Projects Ltd with a target price of Rs 620 per share which represents an upside of 54 percent from the current levels of Rs 401.
Prestige Estate Projects is involved in the business of real estate development encompassing the development and construction of properties, and leasing of office and retail properties.
Written by Amit Madnani
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