Indian stock markets have grown phenomenally well over the last 12 months with Sensex and Nifty soaring making and breaking all-new record highs day after day. In a very short span of this year, Sensex had surpassed two psychological levels of 35,000 and 36,000 while Nifty had breached 11,000, about 6 months after the broader index touched the five-digit mark of 10,000 in the August 2017. Despite a couple of minor corrections, domestic equities have managed to feature under the developing economies of the world, as far as the returns are concerned. A range of factors from World Bank ease of doing business upgrade to Moody’s sovereign credit rating upgrade to the mega recap of Rs 2.11 lakh crore to recapitalise NPA-laden PSU banks among others.
Earlier on Tuesday this week, India’s stock market made new all-time highs with benchmark indices Sensex and Nifty crossing the respective psychological levels of 36,000 and 11,000 for the first time in the history of Indian capital markets. Amid the high-rise in the stock market, we bring you 5 stocks under Rs 200 to buy and gain up to 35%.
Himadri Speciality Chemical — Axis Securities
Shares of Himadri Speciality Chemical have grown more than 4 times in the last one year period. The stock of Himadri Speciality Chemical had jumped 332% to Rs 187.25 from a price level of Rs 43.3 a year earlier. The research and brokerage firm Axis Securities has given an upside of 31% to a target price of Rs 238.
Karnataka Bank — Axis Securities
Shares of Karnataka Bank have returned about 32% in the last 12-month time frame to Rs 153.5. Axis Securities has given an upside of 24% to a target price of Rs 195.
Federal Bank — Axis Securities
Shares of Federal Bank were one of the top performers among the private banks in 2017 up until mid-October 2017 returning about 85% while the stock had a yearly return of 28%. Axis Securities has given a further upside of 35% to a target price of Rs 139.
Jain Irrigation Systems — HDFC Securities
Shares of Jain Irrigation Systems have returned more than 50% in the last one year. The research and brokerage firm HDFC Securities has given an upside of 12% to a target price of Rs 163 from a current market price of Rs 145.6.
Bank of Baroda — HDFC Securities
Shares of one of the prominent PSU lender Bank of Baroda have been on a cyclical path in the last one year taking its 12-month return to being flat. Despite that, HDFC Securities has given an upside of 13.67% to a target price of Rs 190 from a current market price of Rs 166.9.