The Benchmark Indices closed in the red on Friday with the Sensex losing around 888 points and standing at Rs 66,684.26. Moreover, the Nifty 50 index fell 234 points and currently stands at Rs 19,745.
Opposing the direction the markets have shown, listed below are six stocks to buy now for a potential upside of 60 percent.
HDFC Bank Limited
Founded in 1994, HDFC Bank is a commercial banking firm offering services such as private banking, deposits, insurance, mobile banking, internet, and card services.
With a market capitalization of Rs 12.63 Lakh crores, the company’s shares closed at Rs 1,675.75 on Friday, slipping about 0.80 percent as compared to the previous closing levels of Rs 1,688.75 apiece.
BOB Capital Markets gave a ‘Buy’ recommendation on the stock with a target price of Rs 2,061 indicating an upside of around 23 percent as compared to the prevailing stock prices.
Avenue Supermarts Limited
Avenue Supermarts Limited is an India-based company that is involved in the business of organized retail and operates various supermarkets under the brand “D-Mart”
With a market capitalization of Rs 2.40 Lakh crores, the company’s shares closed at Rs 3,675.70 on Friday, trading flat as compared to the previous closing levels of Rs 3,678.80 apiece.
Prabhudas Lilladhar gave a ‘Buy’ tag to the stock with a target price of Rs 4,587 indicating an upside of around 25 percent as compared to the prevailing stock prices.
Karur Vysya Bank Limited
The Karur Vysya Bank Limited is a company based in India that is involved in the provision of banking as well as financial services and the same includes treasury operations & commercial banking.
With a market capitalization of Rs 10,369 crores, the company’s shares closed at Rs 129.20 on Friday, slipping about 0.40 percent as compared to the previous closing levels of Rs 129.75 apiece.
ICICI Securities gave a ‘Buy’ recommendation on the stock with a target price of Rs 165 indicating an upside of around 28 percent as compared to the prevailing stock prices.
Gujarat State Petronet Limited
Gujarat State Petronet Limited is a regulated natural gas utility company based in India that, through its pipeline network, is primarily involved in providing compressed natural gas (CNG), liquefied natural gas transmission, etc.
With a market capitalization of Rs 16,000 crores, the company’s shares closed at Rs 285.20 on Friday, slipping about 1.40 percent as compared to the previous closing levels of Rs 289.30 apiece.
BOB Capital Markets gave a ‘Buy’ tag to the stock with a target price of Rs 370 indicating an upside of around 30 percent as compared to the prevailing stock prices.
Chalet Hotels Limited
Chalet Hotels Limited operates various hotels in India. The company’s portfolio comprises a wide range of hotels as well as commercial properties.
With a market capitalization of Rs 9,400 crores, the company’s shares closed at Rs 458.80 on Friday, gaining about 0.20 percent as compared to the previous closing levels of Rs 457.85 apiece.
ICICI Securities gave a ‘Buy’ recommendation on the stock with a target price of Rs 603 indicating an upside of around 31 percent as compared to the prevailing stock prices.
Sobha Limited
Sobha Limited is engaged in the business of developing as well as constructing properties. Broadly, the company operates under two business segments namely the “Real Estate” segment and the “Contractual & Manufacturing” segment.
With a market capitalization of Rs 5,300 crores, the company’s shares closed at Rs 559.65 on Friday, slipping about 0.25 percent as compared to the previous closing levels of Rs 560.95 apiece.
ICICI Securities gave a ‘Buy’ tag to the stock with a target price of Rs 891 indicating an upside of around 60 percent as compared to the prevailing stock prices.
Written by Amit Madnani
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