The Benchmark Indices closed in the red on Friday, with the Sensex experiencing a loss of 732.96 points or 0.98 percent, ending the week at 73,878.15, and the Nifty 50 index down by 0.76 percent or 172.35 points, to close at 22,475.85.
The Nifty 50 index fell by 0.57 percent over the previous five trading sessions, while the Sensex dropped about 0.65 percent.
Following are the six stocks for which brokerages recommended an upside of up to 42 percent.
Castrol India Limited
With a market capitalisation of Rs. 19,431.3 crore, the share price of this stock moved up by 1.01 percent on BSE to hit an intraday high at Rs. 204.25 in the trading session of Friday.
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The brokerage firm Motilal Oswal gave a ‘Buy’ recommendation for the company’s stock with a target price of Rs. 240 indicating a potential upside of 22 percent compared to its closing price of Rs. 196.45 per share.
Castrol India Limited is primarily engaged in the business of manufacturing and marketing of automotive and industrial lubricants and related services.
ACC Limited
With a market capitalisation of Rs. 47,588 crore, the share price of this Adani Group stock engaged in manufacturing and selling of cement moved up by 1.45 percent on BSE to hit an intraday high at Rs. 2,564.65 in the trading session of Friday.
The analysts of brokerage firm ICICI Securities maintained a ‘buy’ recommendation on ACC Limited with a revised target price from Rs. 2,931 to Rs. 3,272 apiece, representing a potential upside of 30 percent from the closing price of Rs. 2,534.15.
Established in 1936, ACC Limited is a subsidiary of Ambuja Cements, a member of the Adani Group and one of India’s leading producers of cement and ready-mix concrete.
Bajaj Finance Limited
With a market capitalisation of Rs. 4.29 lakh crore, the share price of this large-cap Non Banking Financial Company (NBFC) stock moved up by 7.5 percent on BSE to hit an intraday high at Rs. 7,400 in the morning trading session of Friday after the Reserve Bank of India (RBI) removed restrictions on the company’s eCOM and online digital ‘Insta EMI Card’.
The analysts of brokerage firm Jefferies maintained a ‘buy’ recommendation on BFL with a target price of Rs. 9,260 apiece, representing a potential upside of 34 percent from the closing price of Rs. 6.932.8.
Bajaj Finance Limited (BFL) is one of the leading and most diversified financial services companies in India and is primarily engaged in the business of lending, with a diversified lending portfolio across retail, SME and commercial customers.
Adani Ports and Special Economic Zone Limited
With a market capitalisation of Rs. 2.85 lakh crore, the share price of this stock moved up by 1.15 percent on BSE to hit an intraday high at Rs. 1,354.4 in the trading session of Friday.
Global brokerage firm Citi gave a ‘Buy’ recommendation for the company’s stock with a target price of Rs. 1,782 indicating a potential upside of 35 percent compared to its closing price of Rs. 1,320.35 per share.
Adani Ports & Special Economic Zone Limited is in the business of development, operations and maintenance of port infrastructure (port services and related infrastructure development).
The company has linked multi-product Special Economic Zone (SEZ) and related infrastructure contiguous to the Port at Mundra.
IndusInd Bank Limited
With a market capitalisation of Rs. 1.15 lakh crore, the share price of this bank stock moved up by 0.8 percent on BSE to hit an intraday high at Rs. 1,518 in the trading session of Friday.
The analysts of brokerage firm ICICI Securities maintained a ‘buy’ rating on IndusInd Bank with an unchanged target price of Rs. 2,000 apiece, representing a potential upside of 35 percent from the closing price of Rs. 1,484.5.
Incorporated in 1994, IndusInd Bank Limited offers a wide range of banking products and financial services to comapnies and retail clients apart from undertaking treasury operations.
Gravita India Limited
With a market capitalisation of Rs. 6,551.4 crore, the share price of this stock moved up by 2.2 percent on BSE to hit an intraday high at Rs. 953.3 in the trading session of Friday.
Emkay Global Financial gave a ‘Buy’ recommendation for the company’s stock with a target price of Rs. 1,345 indicating a potential upside of 42 percent compared to its closing price of Rs. 949.15 per share.
Established in 1992, the business of Gravita India Limited, one of the largest lead producers in India, is organised across four specialised verticals: lead recycling (flagship), aluminium recycling, plastic recycling and turnkey projects.
The company also has an expertise in the recycling of used batteries, cable scrap or other lead scraps, aluminium scrap, plastic scrap, etc.
Written by Shivani Singh
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
