While Samvat 2080 powered the Indian equity markets to new highs and Nifty 50 surpassing 26,000 and Sensex surpassing 85,000, there has been some recent correction in the market. Yet the markets have delivered impressive returns at the end of the investment year, thinks major brokerage Motilal Oswal.
According to Motilal Oswal, looking forward the four themes on which they are bullish includes financials, digital, defensives and industrials. Defensives includes consumer discretionary and healthcare sectors. The brokerage said all these sectors are well positioned to take advantage of the state of economic expansion in India, the policy environment and policy push from the government and the global tailwinds favouring them.
In its note to investors, Motilal Oswal has given out buying guidance and upside potential of the following stocks which can be picked up on the Muhurta Trading hour on Diwali evening on November 1, 2024. The upsides range from 8% to 43%.
ICICI Bank: While the CMP (Current Market Price) stands at Rs 1,253, the target price is Rs 1,400 and the upside potential is 12%.
HCL Tech: The CMP stands at Rs 1,845, the target price is Rs 2,300 and the upside potential is 25%.
L&T: The CMP of this scrip stands at Rs 3,443, while the target price is Rs 4,250, indicating an upside potential is 25%.
Titan: The CMP is at Rs 3,332 and the target price is Rs 4,300 and the upside potential is 29%.
Zomato: The CMP stands at Rs 254, the target price is Rs 330 and the upside potential is 30%.
IPCA Laboratories: The CMP of this scrip stands at Rs 1,584, the target price is Rs 1,950 and the upside potential is 23%.
Angel One: The CMP stands at Rs 2,870, the target price is Rs 4,100 and the upside potential is 43%.
Five Star: The CMP stands at Rs 882, the target price is Rs 1,000 indicating an upside potential of 13%.
Amber: The CMP stands at Rs 6,250, the target price is Rs 7,350, representing an upside potential of 18%.
Zen Tech: The CMP stands at Rs 1,756, the target price is Rs 1,900, representing an upside of 8%.
Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.
