On January 1, 2025, the first trading session of the new year, the Indian headline indices Sensex and Nifty opened marginally on a positive note. The Sensex gained 100.99 points or 0.13 per cent, starting at 78,240.00, while the Nifty climbed 20.20 points or 0.09 per cent, reaching 23,665.00.
Bajaj Broking Sets Bullish Target for 2025
Bajaj Broking, in its detailed report “Market Outlook and Top Picks CY25,” has set an ambitious Nifty target of 28,700 for the calendar year and expressed a positive outlook for the year.
“We have analyzed the market from different angles and have set a target of 28,700 for CY25. All indicators suggest that the bulls will dominate in CY25,” the report stated.
“The upward trajectory may not be linear. Healthy corrections are expected, offering long-term investors the chance to capitalize on dips,” added Bajaj Broking in its report.
Bajaj Broking’s Top Stock Picks for 2025
The report has outlined five stocks that are expected to deliver significant returns in 2025. Here are the details:
1. Prestige Estates Projects
Operating in the realty sector, this stock has a market cap of Rs 80,697.31 crore. With a recommended buying range of Rs 1,810–Rs 1,880, it has a target price of Rs 2,290, offering a potential upside of 24 per cent.
“The stock is currently on the verge of a breakout above a bullish flag formation, signaling continued upward momentum. We expect the stock to head towards Rs 2,290 in the coming year, being the 138.2 per cent external retracement of the last decline (Rs 2,074–Rs 1,506),” noted in the Market Outlook and Top Picks CY25 report.
2. Housing & Urban Development Corporation Ltd (HUDCO)
A key player in housing finance, HUDCO boasts a market cap of Rs 49,246.74 crore. Investors can consider entering at Rs 238–Rs 249, aiming for a target of Rs 314, reflecting an upside of 29 per cent.
“The stock has recently rebounded, taking support at the long-term 12-month EMA. We expect the stock to head higher toward Rs 314 in the coming quarters,” it added.
3. Laurus Labs
This pharma sector stock has a market cap of Rs 30,570.33 crore. It’s recommended at Rs 555–Rs 575, with a target of Rs 710 and a 26 per cent upside potential.
“We expect the stock to accelerate its up move post breaking above the neckline of the rounding formation and head higher toward the all-time high of Rs 710 levels.”
4. HSCL
In the chemicals sector, HSCL’s market cap stands at Rs 26,530.43 crore. With a buying range of Rs 525–Rs 545, it targets Rs 687, promising an upside of 28 per cent.
“We expect the stock to extend its up move and head higher toward the all-time high of Rs 687 in the coming year.”
5. ITD Cementation
Focused on infrastructure, ITD Cementation has a market cap of Rs 8,872.83 crore. Its recommended price is Rs 498–Rs 518, with a target of Rs 670 and an upside potential of 32 per cent.
“We expect the stock to rally higher and head towards the 687 levels in the coming quarters being the measuring implication of the bullish breakout area.”
Sectors to Watch in 2025
Bajaj Broking identified Building Materials, Hospitals, Tourism, IT, Banking, Realty, and Infrastructure as key sectors likely to outperform in 2025. Among these, the Banking index is poised to extend its upward momentum, with a target of 62,500 levels based on historical resistance levels since 2007.
“The Banking Index is set to rally toward 62,500 levels, breaking above the resistance line that connects the peaks of 2007 and 2021,” noted in its report.
Strategy for Investors: Buy on Dips
The report also stressed the effectiveness of a “buy on dips” strategy, which has yielded positive results in recent years.
“The current corrective phase over the past two months presents a healthy opportunity to gradually build a long-term portfolio through staggered investments in high-quality stocks,” Bajaj Broking advised.