The Nifty witnessed a 1000 points bounce in the past 15 sessions (5.9%) and the broader markets have done quite well too. In fact, the Nifty is only 6% away from its all-time high. The earnings season has begun. TCS and Infosys disappointed the street by missing analyst estimates.
As far as the global scenario is concerned, the view is divided. A few analysts believe that the US Fed might hike interest rates in May and beyond once the CPI and PPI inflation data show no signs of easing. While other analysts believe that it might pause interest rate hikes after the last hike next month.
Meanwhile, brokerages see up to 68% upside in the following stocks:
Tata Consultancy Services Ltd
Tata Consultancy Services is the flagship company of the Tata Group and provides IT services, consulting and business solutions.
Motilal Oswal Financial Services has a buy rating on the shares of Tata Consultancy Services with a target price of ₹ 3860. This indicates an upside of 21.05% as compared to the company’s closing price of ₹ 3,188.85 apiece on Thursday.
ICICI Bank Ltd
ICICI Bank is a large private sector bank in India that offers a diversified portfolio of financial products and services to retail, SME and corporate customers.
Axis Securities has a ‘buy’ rating on the shares of ICICI Bank with a target price of ₹ 1150.00. This translates to an upside of 28.06% as compared to its closing price of ₹ 898.00 apiece.
Oil and Natural Gas Corporation Ltd
ONGC is the largest crude oil and natural gas Company in India, contributing around 71 per cent to Indian domestic production.
Motilal Oswal Financial Services has a ‘buy’ rating on the shares of Oil And Natural Gas Corporation with a target price of ₹ 215.00. This translates to an upside of 35.26% as compared to its closing price of ₹ 158.95 apiece.
State Bank of India
The State Bank of India is an Indian multinational, public sector banking and financial services statutory body. It is the largest and oldest bank in India.
Axis Securities has a ‘buy’ rating on the shares of State Bank of India with a target price of ₹ 740.00. This translates to an upside of 38.73% as compared to its closing price of ₹ 533.40 apiece.
TCI Express Ltd
TCI Express is an express cargo logistics company that carries distribution through various modes of transport and is specialized in offering time-definite solutions.
ICICI Direct has a ‘buy’ rating on the shares of TCI Express with a target price of ₹ 2150.00. This translates to an upside of 40.52% as compared to its closing price of ₹ 1530.00 apiece.
CESC Ltd
CESC (Calcutta Energy Supply Corporation) is a flagship company of the RP-Sanjiv Goenka Group. It is engaged in electricity distribution with an embedded generation facility. It also has a power distribution business.
JM Financial has a ‘buy’ rating on the shares of CESC with a target price of ₹ 100.00. This translates to an upside of 46.52% as compared to its closing price of ₹ 68.25 apiece.
Greenpanel Industries Ltd
Greenpanel Industries Limited is engaged in the manufacturing of plywood, medium-density fibre boards (MDF) and allied products.
JM Financial has a ‘buy’ rating on the shares of Greenpanel Industries with a target price of ₹ 420.00. This translates to an upside of 53.01 % as compared to its closing price of ₹ 274.50 apiece.
Clean Science and Technology Ltd
The company is one of the leading manufacturers globally and manufactures functionally critical specialty chemicals such as Performance Chemicals, Pharmaceutical Intermediates and FMCG Chemicals.
JM Financial has a ‘buy’ rating on the shares of Clean Science and Technology with a target price of ₹ 2255.00. This translates to an upside of 54.24 % as compared to its closing price of ₹1462.00 apiece.
Somany Ceramics Ltd
The company manufactures and trades in decor solutions, ceramic walls, tiles, sanitary ware, bath fittings and allied products.
JM Financial has a ‘buy’ rating on the shares of Somany Ceramics with a target price of ₹ 850.00. This translates to an upside of 67.32% as compared to its closing price of ₹ 508.00 apiece.
Written by Simran Bafna
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