1. These three well-known stocks have more than doubled in the year, Angel Broking says buy

These three well-known stocks have more than doubled in the year, Angel Broking says buy

A few well-known stocks have returned more than 100% in the year so far, and are poised to do well in the future says report.

By: | Published: September 15, 2017 11:37 AM
IIFL, CESC Three well known stocks which have more than doubled since January remain top picks in September. (Image:Reuters)

There are a few well-known companies which have more than doubled investor wealth since January. Angel Broking says that its not too late to pick them. We take a look at these stocks.

Dewan Housing Finance Corporation has given 128% returns in the last 9 months!  The shares were trading at Rs 552.4, down by more than 1.5% since the previous close on NSE on Friday morning. Angel Broking says has a buy rating on the stock with a target price of Rs 610. “Backed by healthy capital adequacy and increasing demand for home loans Dewan Housing Finance Ltd  loan book is expected to report 23% loan growth over next two three years,” says the report. Angel Broking says that strong Net Interest Margin on the back of lower cost of funds and lower credit cost will ensure healthy return ratios for the company. “Despite strong growth the company has maintained stable asset quality and we expect the trend to continue,” says the research firm.

With returns of more than 114% in the last nine months from the consumption sector, Asian Granito is on the radar of the research firm. The shares were trading at Rs 454 down by more than 0.6% on NSE this morning. “AGIL is continuously putting efforts to increase the B2C sales from the current level (35-36% in FY17). It is expected to reach up to 50% in next 2-3 years on the back of various initiatives taken by AGIL to increase direct interaction with customers like strengthening distribution network, participation in key trade exhibition,”  says the research firm.

Next on the list is KEI Industries, with returns of more than 160% in the last nine months! According to the report KEI’s export (FY17 – 8-10% of revenue) is expected to reach a level of 14- 15% in next two years with higher participation in various international tenders worth Rs 500 crore. “We expect a strong  26% growth CAGR over FY 2017-19 in exports. We expect KEI to report net revenue CAGR of 14% to  Rs 3,392 crore and net profit CAGR of  13% to 125 crore over FY 2017-19E,” says the report. The KEI shares were trading at Rs 310 on Friday morning. 

Other companies with a buy rating include Maruti Suzuki India ltd, TV today Network, Siyaram Silk Mills, GIC Housing Finance and Alkem Laboratories.

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