It’s almost curtains on Samvat 2080. Just about 48 hours are left for investors to ring in Samvat 2081. This year, Samvat is coming on the heels of perhaps the longest unbroken bull run in the history of Indian stock markets. However, Foreign Portfolio Investors are selling Indian equities in large numbers amid the rising lure of the Chinese markets where the Xi Xingping government has unleashed a revival package worth more than $1.3 trillion to tackle a slowdown in the world’s second largest economy.
But major brokerages are pinning a lot of hopes on the Indian economy going forward not only in terms of growth but also in terms of robust corporate earnings. ICICI Direct is of the opinion that earnings of listed businesses would grow at about 14% CAGR (compounded annual growth rate) between FY24 and FY26. In a report, ICICI Direct has also stated that the target of Nifty 50 is 27,500. Its preference for the sectors are Capital Goods/Infra, Private Banks (and AMCs) and select Auto, IT and Pharma.
Top stocks to buy for Muhurat trading 2024
You could call them stocks for Diwali or stocks for Samvat 2081. For long-term wealth generation this brokerage has recommended “companies with strong earnings growth and visibility, stable cash flows, RoE and RoCE”. Accordingly, ICICI Direct has recommended the following stocks: Sansera Engineering, PCBL, NCC, Tech Mahindra, Tata Power, NATCO Pharma, HDFC AMC.
- Sansera Engineering: (Buying Range: Rs 1,490-1,590; Current Market Price: Rs 1,580; Target Price: Rs 2,000; Potential Upside: 27%)
- PCBL: (Buying Range: Rs 435-470; Current Market Price: Rs 447; Target Price: Rs 600; Potential Upside: 34%)
- NCC: (Buying Range: Rs 275-300; Current Market Price: Rs 286; Target Price: Rs 400; Potential Upside: 40%)
- Tech Mahindra: (Buying Range: Rs 1,680-1,750; Current Market Price: Rs 1,735; Target Price: Rs 2,000; Potential Upside: 15%)
- Tata Power: (Buying Range: Rs 410-450; Current Market Price: Rs 437; Target Price: Rs 530; Potential Upside: 21%)
- NATCO Pharma: (Buying Range: Rs 1,300-1,390; Current Market Price: Rs 1,347; Target Price: Rs 1,680; Potential Upside: 25%)
- HDFC AMC: (Buying Range: Rs 4,385-4,580; Current Market Price: Rs 4,435; Target Price: Rs 5,500; Potential Upside: 24%)
(Disclaimer: This article is only meant to provide information. News9live.com does not recommend buying or selling shares or subscriptions of any IPO or Mutual Fund.)
