Amid a volatile session on Monday, the Indian equity markets wiped off initial losses and entered the green as gains across index heavyweights like HDFC twins, SBI, ICICI Bank, Infosys, TCS, HUL, Bajaj twins, and Asian Paints uplifted the indices.
The corporate earnings season has already begun and investors await financial results from India Inc for domestic cues amid cautiousness due to rate hikes and global headwinds.
The BSE Sensex quoted at 58290 points, up 0.64 per cent while the Nifty 50 was at 17275 points, up 0.52 per cent at 02:00 PM on Monday. Here are a few stocks recommended by brokerages for an upside of up to 70%:
Nuvoco Vistas Corporation Ltd
HDFC Securities has a ‘buy’ call on the shares of the cement company with a target price of ₹ 660.00. The shares were trading at ₹ 388.50 at 02:09 PM on Monday and the given target implies an upside of 69.88 per cent. According to the analyst, the given target can be achieved in a time period of one year.
UPL Ltd
J M Financial has a ‘buy’ call on the shares of the chemical company with a target price of ₹ 1060.00 apiece. The shares were trading at ₹ 677.25 at 02:14 PM on Monday. The given target translates to an upside of 56.51 per cent. The given target can be achieved in a time period of one year, as per the analyst.
Biocon Ltd
J M Financial has a ‘buy’ call on the shares of the biotechnology and research company with a target price of ₹ 395.00 apiece. Biocon’s shares were trading at ₹ 264.60 at 02:18 PM on Monday. The given target indicates an upside of 49.28 per cent. The time period given by the analyst is one year when the shares can achieve the given target.
PI Industries
J M Financial has a ‘buy’ call on the shares of the agrochemical company with a target price of ₹ 3790.00 apiece. P I Industries’ shares were trading at ₹ 3065.20 apiece at 02:20 PM on Monday, therefore the given target suggests an upside of 23.64 per cent. The company can achieve the given target in a time period of one year as per the analyst.
Written by Simran Bafna
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
