On June 18, 2024, at 6:48:46 PM IST, here are some stock recommendations to consider for potential upside:
1. Stock: Hindustan Construction
Research House: Elara Capital
Advice: Buy
Stock Price: Rs 38
1-year Target Price: Rs 63
Potential Upside: 65.8%
Comment: Initiate with ‘buy’ due to significant opportunities in key sectors, debt reduction, strong project completion experience, expected order inflows in 2024-25, and robust growth prospects in 2025-26.
2. Stock: Krsnaa Diagnostics
Research House: Systematix
Advice: Buy
Stock Price: Rs 598
1-year Target Price: Rs 841
Potential Upside: 40.6%
Comment: Initiate with ‘buy’ as it is well set to exploit growth opportunities in India’s diagnostic market through its focus on the underpenetrated semi-urban and rural segments. Also, the superior utilization of recently set-up diagnostic centers is expected to support growth over the next three years.
3. Stock: L&T Finance
Research House: Antique Stock Broking
Advice: Buy
Stock Price: Rs 165
1-year Target Price: Rs 220
Potential Upside: 33.3%
Comment: Initiate with ‘buy’ as focus on product diversification and balance sheet buffers could help mitigate the effect of business cycle fluctuations. Expected AUM growth and lower credit costs are other positives.
4. Stock: Pitti Engineering
Research House: Axis Capital
Advice: Buy
Stock Price: Rs 912
1-year Target Price: Rs 1,180
Potential Upside: 29.4%
Comment: Maintain ‘buy’ rating due to its robust capex and capacity addition, improvement in order book, increasing revenue contribution from value-added products, rising demand in the international business, and focus on inorganic growth.
5. Stock: Suzlon Energy
Research House: ICICI Securities
Advice: Buy
Stock Price: Rs 50
1-year Target Price: Rs 60
Potential Upside: 20%
Comment: Maintain ‘buy’ rating due to positive outlook of wind industry over the medium to long run, and expectations of strong order inflows. Focus on debt reduction and corporate governance are other positives.