Indian equity markets have seen considerable movement in the last one-and-half-year after the country-wide demonetisation carried by Narendra Modi-led NDA government. During the aforementioned course of time, Indian stock markets have seen higher participation from domestic investors on a relative basis, be it the direct investment or through mutual fund route. In the financial year 2017-2018, the headline indices Sensex and Nifty broke the record high levels for a number of times after crossing the psychological marks of 36,000 and 11,000 in January 2018, respectively.
In the last two months of dealings in the domestic markets, stocks have seen a round of appreciation largely on the hopes of better fourth-quarter corporate earnings. The S&P BSE Sensex has added nearly 8% from the bottoms in the last two months after recovering from the downtrodden effects of global sell-off, LTCG tax jitters, India’s biggest banking fraud unravelling at PNB and elevated volatility in global markets following the trade war worries between the United States and China. As investors continue to look for investment avenues, we bring to you 7 blue-chip stocks which may fetch up to 45% on the invested money.
HDFC — Choice Broking
Shares of India’s largest housing financier HDFC Ltd (Housing Development Finance Corporation) have risen about 27% to Rs 1,989.9 from a share price level of Rs 1,566.75 in last one year. The research and brokerage firm Choice Broking has given a buy with a target price of Rs 2,140 which implies an upside of 7.5% from the current market price.
Bajaj Auto — IIFL
Shares of Bajaj Group’s automaker Bajaj Auto have been flat over the last one year. The research and brokerage firm IIFL has given a buy with a 24-month target price of Rs 4,400 which implies a potential upside of 56.7%.
RIL — Axis Securities
Shares of the oil-to-telecom conglomerate Reliance Industries Ltd (RIL) have been on a raging run in the last one year after the Mukesh Ambani-controlled Reliance Jio Infocomm turned profitable and Reliance Industries posted the highest ever quarterly profit for the period of January-March of FY18. RIL shares have returned around 43% in last one year. The research and brokerage firm Axis Securities has given a buy rating with a target price of Rs 1,125 implying an upside of 21% from the current market price of Rs 927.
Hero MotoCorp — HDFC Securities
Shares of India’s largest two-wheeler maker by volumes Hero MotoCorp have declined 2% to Rs 3,499.9 from a share price of Rs 3,585 in the last 12-month period. The research and brokerage firm HDFC Securities has given a buy with a target price of Rs 4,150 which implies an upside of 18.6% from the current market price.
HCL Tech — HDFC Securities
Shares of India’s fourth-largest IT services company HCL Technologies have risen more than 4% to Rs 904.9 from Rs 864.9. HDFC Securities has given a buy with a target price of Rs 1,156 which implies an upside of 27.8% from the current market price.
Maruti Suzuki — Angel Broking
Shares of India’s largest automaker Maruti Suzuki have been the top performers among the BSE Sensex components and have returned 25% to Rs 8,560.65 from a share price level of Rs 6,878.85. The research and brokerage firm Angel Broking has given a buy with a target price of Rs 10,619 implying an upside of 24% from the current levels.
ICICI Bank — Angel Broking
Shares of India’s second-largest private sector bank by assets and the fourth-largest bank by market capitalisation ICICI Bank have seen extreme volatility in the recent past and have returned more than 3% in the last 12 months. Angel Broking has given a buy with a target price of Rs 416 which implies an upside of 43.1% from the current market price.
Disclaimer: Views and recommendations given in this section are the brokerage firms’ own and do not represent those of www.financialexpress.com. Please consult your financial adviser before taking any position in the stock/s mentioned.