Indian stock markets have witnessed an extremely volatile trading activity in the recent past days following the three-day global sell-off and the concerns over 10% of LTCG from equities over Rs 1 lakh. During the three-day wipeout from equity markets, about 1,710 points were washed away from the benchmark Sensex index including a massive intraday plunge of 1,274 points on Tuesday (6 February 2018). Up until the day before Budget 2018 was presented, Indian equities were on a perpetual bull run for almost about 13 months with the headline indices returning around 30%. Interestingly, due to the rout in the stock markets, shares are available at relatively cheaper prices as compared to the prices before sell-off period.
Global sell-off brief
In the heavy sell-off in stock markets, investors lost a whopping amount of money, as in India itself, about 7 lakh crore was wiped off from the market capitalisation of BSE-listed companies in three days starting 2 February to 6 February 2018. During the three-day turmoil in global equity markets, the US benchmark index Dow Jones Industrial Average lost as much as 1840.96 points.
After the choppy activity in the stock markets worldwide recently, we bring to you 5 shares as cheap as below Rs 200 to buy and gain up to 65%.
Jain Irrigation — HDFC Securities
Shares of Jain Irrigation have returned about 18% in the last one year. The research and brokerage firm HDFC Securities has given buy rating with a target price of Rs 187 which implies an upside of about 62% from the current market price.
Tourism Finance Corporation — HDFC Securities
Shares of Tourism Finance Corporation have risen over 150% in the last one year term. HDFC Securities has given a buy with a target price of Rs 227 which implies an upside of about 46% from the current market price.
NMDC — HDFC Securities
The stock of NMDC had been flat through the last one year. HDFC Securities has given a buy rating with a target price of 163 which implies an upside of 22% from the current market price.
Equitas Holdings – Axis Securities
Shares of Equitas Holdings have plunged about 24% in the last 12-month horizon. The research and brokerage firm has given a target price of 185 which implies an upside of 32% from the current market price.
L&T Finance Holdings — Axis Securities
L&T Finance Holdings shares have grown more than 50% in the last one-year term. Axis Securities has given a target price of Rs 210 which implies a further upside of 33% from the current market price.