10 Stocks Suggested by Brokerages to Initiate ‘BUY’ Coverage for 17-43% Upside
The market has been trading in a broad range of 14,300-15,300 levels on the Nifty50, after hitting record highs in mid-February. The economy is impacted by the second wave of COVID-19 in the first quarter of FY22.
The March quarter earnings season started on a positive note by IT companies as earnings were broadly in line with analysts’ estimates.
Although due to the continued rise in COVID-19, several states are under lockdown. Experts largely expect the current year to be volatile unless there are better-than-expected earnings and economic growth. In FY21, the market had reported a 70 per cent rally.
“Post bounceback and disproportionate returns last year, we expect FY22 to be a more normalised return year. We have witnessed more than 20 per cent earnings upgrades in FY21. Earnings trajectory during 2HFY22, once the low base is over, would decide the outcomes this year,” Shridatta Bhandwaldar, Head of Equities, Canara Robeco MF.
“Also, the intensity of the second wave of COVID, monsoon etc., will be key factors. We expect the year to be constructive but volatile with a lot of time and price consolidation, with sectoral rotations playing a more important role," he said.
Here's a collated list of 10 stocks on which brokerages have initiated a buying coverage:
- Deepak Fertilisers: Buy | Target: Rs 282
- Brookfield India Real Estate Trust: Buy | Target: Rs 285
- Fine Organic Industries: Buy | Target: Rs 3,232
- Share India Securities: Buy | Target: Rs 395
- Blue Star: Buy | Target: Rs 1,200
- CSB Bank: Buy | Target: Rs 316
- HG Infra Engineering: Buy | Target: Rs 380
- Narayana HrudBuy | Target: Rs 517
- Power Mech Projects: Buy | Target: Rs 727
- V-Mart Retail: Buy | Target: Rs 3,500