On June 26, during the trading session, Indian indices reached a historic milestone. The Nifty 50 climbed to a record high of 23,882.50 points, up by 0.70%, and the S&P BSE Sensex hit a peak of 78,721.83, marking a 0.80% gain.
In today’s trading, Reliance Industries Ltd saw a 3.7% increase, reaching an intraday peak of Rs 3,015 per share. Bharti Airtel Ltd also rose by 4.5%, and Ultratech Cement saw a gain of 3.7%.
This week, the Nifty index surged by 410 points, with the Sensex also seeing a gain of 1600 points. Key contributors to this surge towards an all-time high were HDFC Bank with a significant contribution of 66.2%, followed by ICICI Bank at 44.2%, Axis Bank at 27.9%, Reliance Industries at 19.2%, and L&T at 15%.
Listed below are nine stocks in which the brokerages recommended an upside of up to 60%:
Tata Motors Ltd
Tata Motor Ltd is a leading global automobile manufacturer that provides the global market with an extensive and varied range of automobiles, trucks, buses, sport utility vehicles, and defence vehicles.
Tata Motors has a strong global network with operations in India, the UK, South Korea, South Africa, China, Brazil, Austria, and Slovakia.
Jefferies gave a ‘Buy’ recommendation for the company’s stock with a target price of Rs 1,250 indicating a potential upside of around 31 percent compared to the current stock prices prevailing of Rs 954.
IndusInd Bank Ltd
IndusInd Bank Limited was incorporated in 1994 as a commercial bank. The Bank provides a wide range of banking products and financial services to corporate and retail clients besides undertaking treasury operations.
Motilal Oswal financial services gave a ‘Buy’ recommendation for the company’s stock with a target price of Rs 1,850 indicating a potential upside of around 23 percent compared to the current stock prices prevailing of Rs 1,500.
DCB Bank Ltd
DCB Bank was incorporated in 1995, by reconstituting the Development Co-operative Bank Ltd (DCBL) to Development Credit Bank Ltd as a joint-stock banking company.
The bank offers mobile and internet banking services, with approximately 131,000 customers actively using the mobile banking application and around 30,000 retail users using internet banking.
Motilal Oswal Financial Services gave a ‘Buy’ recommendation for the company’s stock with a target price of Rs 175 indicating a potential upside of around 24 percent compared to the current stock prices prevailing of Rs 141.
Maruti Suzuki India Ltd
Maruti Suzuki India Ltd is India’s largest passenger car company, accounting for over 50% of the domestic car market. The company is engaged in the business of manufacturing, purchasing, and sale of motor vehicles and spare parts (automobiles).
The company offers its cars under various brands such as Maruti Alto to stylish hatchbacks Ritz, A-star, Swift, Wagon R, Estillo, sedans DZire, and many more.
Motilal Oswal financial services gave a ‘Buy’ recommendation for the company’s stock with a target price of Rs 14,700 indicating a potential upside of around 20 percent compared to the current stock prices prevailing of Rs 12,252.
Krystal Integrated Services Ltd
Krystal Integrated Services is an integrated facilities management service (FMS) company, with a focus on healthcare, education, and public administration.
Edelweiss Broking gave a ‘Buy’ recommendation for the company’s stock with a target price of Rs 1,369 indicating a potential upside of around 60 percent compared to the current stock prices prevailing of Rs 859.
Written by Omkar Chitnis
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