‘Buy’ list for March: These 5 stocks can rise up to 86% in 1 year, says HDFC Securities

Pranati Deva
Updated: 10 Mar 2022, 10:16 AM IST
TL;DR.

Macroeconomics will be a key driver of global equity markets in March. The Russia-Ukraine war will be keenly followed by markets as will be the US Federal Reserve’s monetary policy decision. India, of course, will have additional risks associated with the sharp increase in Crude oil prices and weakening rupee. Keeping these factors in mind, HDFC Securities has come out with a 'buy' list, focused on the mid-cap space since it will offer the highest upsides whenever the recovery happens.

IndiaMart InterMesh: The brokerage has a target price of ₹8,000 for the stock, indicating an upside of 86.5 percent from the current market price of ₹4,289 (as on March 9) per share on the BSE. The stock is down 44.7 percent in the last 1 year and 31 percent in 2022 year-to-date (YTD).

Somany Ceramics: The brokerage has a 12-month target price of ₹1,130 for the stock, indicating an upside of 77.5 percent from the current market price of ₹636 (as on March 9). The stock has risen 45 percent in the last 1 year but is down 25 percent since Feb.

Endurance Tech: HDFC Sec has a target price of ₹1,820 per share for this tech stock, which implies an upside of 59 percent from the current market price of ₹1,143.90 on the BSE, as on March 9, 2022. The stock has lost 18 percent in the last 1 year and has cracked 29 percent in 2022 YTD giving negative returns in all 3 months (till date).

ICICI Prudential: The domestic brokerage house has a target price of ₹700 per share for this private life insurer, implying an upside of 55.6 percent. Its current market price, as on March 9, 2022 is ₹449.65 per share on the BSE. The stock is down around 8 percent in the last 1 year and has given negative returns in the last 5 months, since October 2021.

Gujarat Gas: HDFC Securities has a target price of ₹765 on the stock, indicating an upside of 43.4 percent from its current market price of ₹533 per share on the BSE, as on March 9, 2022. The stock has lost just 1 percent in the last 1 year despite an over 20 percent fall since Feb.

First Published: 10 Mar 2022, 10:16 AM IST