The rally in Indian stock market so far had been favoured by many historic moments in 2017. The IPO market had also emerged as a hit, in terms of money raised. More than Rs 65,000 crore has been raised so far, out of which Rs 43,770 crore notably through five big IPOs of 2017. The list includes SBI Life Insurance, ICICI Lombard General Insurance, HDFC Standard Life Insurance, New India Assurance, General Insurance Corporation. Also, there were some events also that fuelled optimism among investors, namely, government’s bank Rs 2.11 lakh crore recapitalisation plan, Moody’s sovereign credit rating upgrade, World Bank ease of doing business rating upgrade etc.
Among the high-end euphoria in stock markets, investors hunt for more and more opportunities to invest in. We bring you four stocks which you can buy below Rs 100 per share, that may gain up to 40%.
Dish TV India — MOSL
Shares of Dish TV have been flat in the eleven-and-half months period of 2017 so far. The research and brokerage firm Motilal Oswal Securities has given an upside of 39% to a target price of Rs 106 from its current market price of Rs 76.
Genus Power Infrastructures — IIFL
Shares of Genus Power Infrastructures have grown more than 45% since January so far. The research and brokerage firm IIFL has given an upside of 34.5% to a target price of Rs 74 from its current market price of Rs 55.
Idea Cellular — HDFC Securities
The stock of Idea Cellular had returned 35% since January this year. The research and brokerage firm HDFC Securities has recommended it with a ‘buy’ and given a target price of Rs 120 from the current market price of Rs 94, which implies a return of 27.65%.
Jammu & Kashmir Bank — MOSL
The stock of Jammu & Kashmir Bank had returned over 25% in 2017 so far. Motilal Oswal Securities has given a further upside of 33% to a target price of Rs 100 from its current market price of Rs 75.