After a notable 4.8 percent decline in the Sensex over the past ten days, investors are seeking opportunities to capitalise on potential recoveries. This market dip presents a strategic moment to identify undervalued stocks that may rebound as investor sentiment improves.
Here are some top stocks to consider buying in the wake of this recent market downturn:
Varun Beverages Ltd
With a market capitalization of Rs.1.92 lakh crore, the share price of Varun Beverages Limited (VBL) closed at Rs.591.90 per share on Wednesday, rising 0.32 percent from its previous close.
HSBC, an international brokerage and wealth management firm, has initiated coverage on Varun Beverages, assigning a ‘Buy’ rating with a price target of Rs.780, indicating an upside potential of over 31 percent.
In its latest financial update, VBL reported net sales of Rs.7,197 crore for Q1 FY25, marking a 28.3 percent year-over-year growth. Net profit for the quarter reached Rs.1,262 crore, up 25.6 percent over the same period.
Bharat Electronics Ltd
With a market capitalization of Rs.2.05 lakh crore, the share price of Bharat Electronics Ltd (BEL) closed at Rs.282.60 per share on Wednesday, rising 0.84 percent from its previous close.
International brokerage Macquarie has maintained its ‘outperform’ recommendation on BEL with a price target of Rs.350, which implies a potential upside of 24 percent from today’s closing price.
In its latest financial update, BEL reported net sales of Rs.4,244 crore for Q1 FY25, marking a 20 percent year-over-year growth. Net profit for the quarter reached Rs.791 crore, up 47 percent over the same period.
Adani Green Energy Ltd
With a market capitalization of Rs.2.05 lakh crore, the share price of Adani Green Energy Ltd closed at Rs.1,792.00 per share on Wednesday, falling 1.20 percent from its previous close.
Emkay Global has initiated coverage on Adani Green Energy, India’s largest renewable energy company, assigning a ‘Buy’ rating and a target price of Rs.2,550, suggesting an upside potential of over 42 percent.
In its latest financial update, the company reported net sales of Rs.2,835 crore for Q1 FY25, marking a 31 percent year-over-year growth. Net profit for the quarter reached Rs.629 crore, up 95 percent over the same period.
JSW Energy Ltd
With a market capitalization of Rs.1.26 lakh crore, the share price of JSW Energy Ltd closed at Rs.727.50 per share on Wednesday, rising 0.69 percent from its previous close.
Nomura India has initiated coverage on JSW Energy Ltd with a ‘Buy’ rating and a target price of Rs.885, indicating an upside potential of over 21 percent.
In its latest financial update, the company reported net sales of Rs.2,879 crore for Q1 FY25, reflecting a slight 2 percent year-over-year decrease. However, net profit rose to Rs.534 crore, marking an 84 percent increase compared to the same period last year.
SignatureGlobal India Ltd
With a market capitalization of Rs.21,698 crore, the share price of SignatureGlobal India Ltd closed at Rs.1,544.95 per share on Wednesday, rising 0.82 percent from its previous close.
ICICI Securities Limited has initiated coverage on SignatureGlobal India with a ‘Buy’ rating and a target price of Rs.1905.00, indicating an upside potential of over 23 percent.
In its latest financial update, the company reported net sales of Rs.400.61 crore for Q1 FY25, marking a 142 percent year-over-year growth. Net profit for the quarter reached Rs.6.80 crore, up from a net loss of Rs.7.18 crore
Written by – Siddesh S Raskar
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