As India is heading up for the biggest festival week, starting with Dhanteras, everybody would be wondering about money making ideas. By all means, gold is the most preferred asset class among Indians for ages now and may continue to be on top. The reason being fast convertibility into cash, one can also flaunt the yellow metal by moulding it into ornaments, and if needed loan can also be taken against it. But when it comes to investing, besides gold and other term deposits, stock market investment is also considered as a good bet. The key equity indices — Sensex and Nifty — have risen in the range of 20-22% so far in this year, despite a few ‘slips and trips’. We bring you five stocks under Rs 200 which may turn your money into gold on the auspicious occasion of Dhanteras.
Manappuram Finance – IDBI Capital
The stock of Manappuram Finance has returned around 50% in 2017 so far and IDBI Capital has given an upside of 40% from the current market price of Rs 101 to the target price of Rs 142. Manappuram Finance Limited is an NBFC (non-banking finance corporation) with second highest AUM (assets under management) with regard to Gold loans Rs 10,700 crore in the listed space, according to research and brokerage house IDBI Capital.
Minda Corporation – Axis Direct
Shares of Minda Corporation have risen about 60% in the current calendar year 2017 so far. The research and brokerage firm Axis Direct has given an upside of 25% from its current market price of Rs 146 to the target price of Rs 183. Minda Corporation is a diversified auto-ancillary company with a product portfolio catering to to all the key segments of passenger vehicle, commercial vehicle, 2/3 wheelers, tractors, off-road vehicles.
V‐Guard Industries Industries – Sharekhan
Shares of V-Guard Industries had jumped over 60% in the current year, 2017 and Sharekhan have recommended it as one of the best stock to buy during this festival season. The current market price of the V-Guard Industries is Rs 190. V‐Guard Industries Ltd (V‐Guard) is an established brand in the electrical and household goods space, particularly in south India and has grown its earnings impressively at 46% CAGR over FY 2015‐2017, according to Sharekhan.
MOIL – Anand Rathi
Shares of the state-run Nagpur-based manganese-ore mining company MOIL had returned around 8% so far in this year. The research and brokerage firm Anand Rathi has given an upside of 25% from its current market price of Rs 196 to the target price of Rs 245. MOIL is a mining company with an outlook for organic growth as well as tempting growth prospects for EMD in Li-ion battery push for electric vehicles, according to Anand Rathi.
Jagran Prakashan – Axis Direct
Though the shares of Jagran Prakashan has been flat since the start of 2017, research and brokerage Axis Direct have recommended it with an upside of 15% from the current market price of Rs 178 to the target price of Rs 205. Jagran Prakashan is a media company across printing and publication of newspapers, magazines, FM Radio, Digital, outdoor advertising etc.