Amidst the fluctuations in the stock market, HDFC Securities has identified six promising stocks across various industries with potential for significant upside. These stocks, priced between Rs 596 and Rs 8,244 as of May 8, have target prices that suggest a potential upside of up to 21% from current levels.
Here are the top picks:
1. Sanofi India (Midcap Stock Pick)
HDFC Securities has a ‘buy’ rating on Sanofi India with targets of Rs 9,489 and Rs 9,988 over the next 2-3 quarters. The brokerage expects a 9% revenue CAGR driven by domestic formulation sales growth and anticipates margin expansion due to changes in the business mix.
2. Nestle India
Nestle India has an ‘add’ rating with a target of Rs 2,750. The brokerage sees potential for double-digit revenue growth and anticipates EBITDA margin expansion despite being at a decadal high.
3. United Breweries Ltd (UBL)
UBL has a ‘buy’ rating with targets of Rs 2,245 and Rs 2,401 for the next 2-3 quarters. HDFC Securities expects innovation and premiumisation to drive revenue growth for the company.
4. United Spirits Ltd
United Spirits Ltd also has a ‘buy’ rating with targets of Rs 1,319 and Rs 1,386 over the next 2-3 quarters. The brokerage believes in the company’s premiumisation strategy and revenue growth potential.
5. Marico
Marico has a ‘buy’ call with a target of Rs 650. HDFC Securities projects revenue, EBITDA, and PAT growth over the next few years.
6. Britannia Industries
Britannia Industries has an ‘add’ rating with a target of Rs 5,556. The company’s biscuits portfolio is expected to drive volume growth, and the stock is recommended for long-term investors.
Overall, these stocks offer potential for growth and value appreciation. Stay updated with the latest stock market news for more insights.
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