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Diwali is all about celebration, so let’s bring joy to your portfolio with some new stocks.
With the BSE Sensex making a steady recovery, analysts are positive about equity performance in the Indian markets over the next few weeks. Here are some top stock picks for you to consider this Diwali season.
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Praised by Motilal Oswal for its excellent execution in its recent few quarters, Bharti Airtel has demonstrated impressive EBITDA growth, driven by strong subscriber numbers. It currently holds a price target of Rs 709, representing a more than 50% upside.
The Indian Tobacco Company is said to offer attractive valuations for its price. With its price target of Rs 228, this stock and its minimum 30% upside is worth watching.
According to Motilal Oswal, this stock offers a great play on the recovery of Indian bank stocks. With its strong capitalisation and strengthened operations, State Bank of India is considered one of the best choices amongst the PSU banks.
L&T is believed to have some big-ticket projects in its backlog. According to Reliance Security, it furthers offers a competitive amount of liquidity with a strong track record of performance. That accounts for its price target of Rs 1,280.
Redington India has touted its efficient order management systems and improve supplier credit. It is also net cash positive and expects an ROE of minimum 20% moving ahead. As such, its current price target stands at Rs182.
Holding a price target of Rs 1,105, KPR Mills stands out with its efficient operational capabilities and strong business ethics.
While its latest price correction sparked some disdain amongst investors, YES Securities belives that Manappuram’s rise in customer acquisition is a good indicator of future growth. This. alongside its robust liquidity, makes it a worthy contender for your portfolio.
Higher growth margins and a growing ROE prompts YES Securities to be bullish on Kansai Nerolac Paints. The stock currently holds a price target of Rs 700.
Holding a price target of 105, an over 20% upside, Ashok Leyland has caught the eye of Reliance Securities. Ashok Leyland has held a steady market share in the medium and heavy commercial vehicles industry, and poses a lower risk than passenger vehicle stocks. In recent years, it has expanded into the light commercial vehicles market to improve its operational scope.
With its strong position to expand into loans, deposits and revenues, ICICI is considered a good pick by IIFL Securities. ICICI Bank currently holds a target price of Rs 530.
Considering its low allocation to high-risk industries like travel, energy and hospitality, HCL’s portfolio is decently hedged against risk. It also holds a strong exposure to IMS, allowing it to easily expand into cloud and cyber industries. HCL Technologies holds a price target of Rs 1,000.
According to YES Securities, HDFC is an attractive buy with a solid balance sheet. It anticipates an uptick in its margins, especially arising from foreseeable growth in its banking. insurance and asset management associates.
With its projected upside of over 20%, Infosys is not a stock to overlook. It is widely expected by analysts to recover from a rise in IT spending. Considering its strong potential for future margin growth, Infosys has a promising outlook. Its current price target stands at Rs 1,355.
If any of these stocks have caught your eye, keep these factors in mind before choosing an investment.
Use this Diwali to drive your portfolio returns. From reliable blue-chip buys to more thrilling value plays, there are plenty of stocks on the Indian markets to give you solid returns. However, always do your due diligence beforehand in order to make responsible investment decisions.
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