With a time frame of around three months, domestic brokerage and research firm ICICI Securities has made ‘buy’ recommendations and sees potential upside in these stocks which include Genus Power Infrastructure, aluminum and copper producer Hindalco, Housing Development Finance Corporation (HDFC), and Bajaj. Finance.
This is ICICI Securities’ top stock picks:
genus power: The power sector index has given a breakout above the decade high, indicating a structural turnaround after several years of poor performance. Genus Power, a major beneficiary of smart meter reform, is on the verge of challenging its 2008 and 2018 highs, suggesting a change in class for the stock price and expected to outperform in the coming months.
‘Buy’ recommendation of the brokerage with a target price of ₹92 per share and stop loss of ₹67 per.
Hindalco: Buying trend of ICICI Securities on the metal stock. Comes with a target price of ₹540 per and stop loss ₹455 per share with a time horizon of three months.
Hindalco is the world’s largest aluminum rolling company and one of the largest producers of primary aluminum in Asia.
HDFC: Within the housing finance space (proxy for the real estate sector), the brokerage prefers HDFC, which is expected to grow and outperform. ICICI Securities’ buy stance on the stock comes with a ₹3,125 target price and stop loss ₹2,628.
Bajaj Finance: Comes with a target price of ‘Buy’ rating on the financial services company ₹8,630 per share and stop loss ₹7,150 with a time horizon of three months.
Bajaj Finance is a major player in the consumer finance space, while it has also forayed into several other lending segments such as housing, SME lending, etc.
The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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