The Benchmark Indices concluded Friday’s trading session positively, with the Sensex increasing by 769 points, or 0.95 percent, ending the day at 81,721.08. Meanwhile, the Nifty 50 index increased by about 243.4 points, equivalent to a rise of nearly 1 percent, and closed in the green at 24,853.15.
Over the previous five trading sessions, the Nifty 50 index experienced a fall of about 0.7 percent, while the Sensex saw a decline of around 0.74 percent. Below are six stocks that brokerages have recommended for a potential upside of more than 60 per cent:
Amber Enterprises India Limited
With a market capitalisation of Rs. 21,667 crores, the stock moved down by nearly 2.4 percent on BSE to close in the red at Rs. 6,402.35 on Friday. The analysts of brokerage firm Sharekhan have issued a ‘buy’ rating for Amber Enterprises, setting a target price of Rs. 8,142 per share, indicating a potential upside of nearly 27 percent from Friday’s closing price.
Amber Enterprises Limited is engaged in the manufacturing and trading of consumer durables, electronics manufacturing services (EMS) and railway subsystem & mobility and its services. It commands a substantial market share in the room air conditioners (RAC) industry, representing 27.3 percent (in value terms) of the manufacturing footprint in the RAC sector.
South Indian Bank Limited
With a market capitalisation of Rs. 7,527 crores, the stock moved up by nearly 1 percent on BSE to close in the green at Rs. 28.77 on Friday. The analysts of brokerage firm ICICI Securities have issued a ‘buy’ rating for South Indian Bank, setting a target price of Rs. 37 per share, indicating a potential upside of nearly 29 percent from Friday’s closing price.
South Indian Bank provides retail and corporate banking, para banking activities such as debit/credit card, third party financial product distribution, along with Treasury and Foreign Exchange Business.
ACME Solar Holdings Limited
With a market capitalisation of Rs. 15,136 crores, the stock moved down by nearly 1 percent on BSE to close in the red at Rs. 250.15 on Friday. The analysts of brokerage firm ICICI Securities have issued a ‘buy’ rating for ACME Solar, setting a target price of Rs. 350 per share, indicating a potential upside of nearly 40 percent from Friday’s closing price.
ACME Solar Holdings Limited, among India’s top 10 leading renewable energy Independent Power Producers (IPPs), is a renewable energy company in India with a portfolio of solar, wind, hybrid, and firm and dispatchable renewable energy (FDRE) projects.
Sagility India Limited
With a market capitalisation of Rs. 19,881.6 crores, the stock moved down by nearly 3 percent on BSE to close in the red at Rs. 42.47 on Friday. The analysts of brokerage firm ICICI Securities have issued a ‘buy’ rating for Sagility India, setting a target price of Rs. 60 per share, indicating a potential upside of nearly 41 percent from Friday’s closing price.
Sagility India Limited is engaged in the business of providing healthcare-focused technology-enabled solutions and services primarily to US-based clients in the payer and provider segments.
Arvind Fashions Limited
With a market capitalisation of Rs. 6,080 crores, the stock moved down by nearly 2 percent on BSE to close in the red at Rs. 456.1 on Friday. The analysts of brokerage firm Anand Rathi have issued a ‘buy’ rating for Arvind Fashions, setting a target price of Rs. 681 per share, indicating a potential upside of nearly 49 percent from Friday’s closing price.
Arvind Fashions Ltd. (AFL), one of India’s top casual and denim players, is involved in the designing, sourcing, marketing and selling branded readymade apparel, footwear, innerwear and other accessories for men, women and kids.
Aether Industries Limited
With a market capitalisation of Rs. 9,865 crores, the stock moved up by nearly 0.1 percent on BSE to close in the green at Rs. 744 on Friday. The analysts of brokerage firm HDFC Securities have issued a ‘buy’ rating for Aether Industries, setting a target price of Rs. 1,197 per share, indicating a potential upside of nearly 61 percent from Friday’s closing price.
Aether Industries Ltd. is engaged in the business of speciality chemicals and intermediates. The products of the Aether find application in various sectors like pharmaceuticals, agrochemicals, specialty, electronic chemicals, material sciences, high-performance photography, and more.
Written by Shivani Singh
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