Nine Stocks Down from Peak Prices for you to Buy
These stocks are on analyst's buy list though none of them promises fresh highs for now.
These 9 stocks 100-340% down from peak prices.
ONGC: This stock settled at Rs 72.90 on Wednesday and needs a 338 per cent rally to revisit its high of Rs 314 hit on June 9, 2014.
Coal India: Coal India requires a 270 per cent rally to hit the August 2015 high of Rs 447. Edelweiss has cut its price target for Coal India to Rs 155 from Rs 165.
Tata Motors: The stock needs a 249% rise over its Wednesday's price to revisit the February 2015 high of Rs 605 apiece. This brokerage has a price target of Rs 167 on the stock. The stock traded at Rs 173 on Wednesday, suggesting muted upside potential.
NTPC: It needs a 174% gain to reach its March-January 2008 high. It is a highly recommended stock.
Indian Oil: It requires a 172% jump to hit the August 2017 high. It has hit a record high of Rs 231.47 on August 31, 2017.
Induslnd Bank: At, Rs 828, IndusInd Bank are trading higher than JM Financial's price target for the stock at Rs 750, Nomura's target of Rs 725 and Edelweiss' target of Rs 665.
Sun Pharma: ICICI Securities has a buy rating on the stock with a price target of Rs 610. Prabhudas Lilladher sees the stock at Rs 597, JP Morgan at Rs 600, JM Financial at Rs 770 and Macquarie at Rs 620. The stock has 32 buy, 2 hold and 5 sell ratings.
GAIL: Prabhudas Lilladher expects GAIL's capex trajectory to pick up all businesses (excluding pipelines) that operate at near-peak levels. A price target of Rs 108 was suggested on the stock.
ITC: Antique, IIFL, Elara, etc, have buy ratings on the stock with price targets ranging from Rs 235 to Rs 273.