Looking to buy? These are the top 6 fundamental stock picks by HDFC Securities

Updated: 16 Sep 2022, 12:46 PM IST
TL;DR.

Despite weak global macros, Indian markets have remained resilient and outperformed most global peers recently. Going ahead as well, analysts remain bullish on Indian equities on the back of return of foreign invetsor inflows and better macros than most global peers. Amid this backdrop, brokerage house HDFC Securities has come out with 6 fundamental picks with the time horizon of the next 2-3 quarters. Let's take a look:

Repco Home Finance: The brokerage recommends buying this NBFC stock between 228-233 band and add more on dips of 198. It has given the target price of 257 for the base case and 278 for the bull case scenario and a time horizon of 2-3 quarters. The stock has lost 14 percent in the last 1 year and 3 percent in 2022 so far. It rose 64 percent in August and is up 5 percent in September till date.

Rico Auto: The brokerage recommends buying this Auto Ancillaries stock between 55.5-57.5 band and add more on dips of 50-51. It has given the target price of 62.5 for the base case and 68.5 for the bull case scenario and a time horizon of 2-3 quarters. The scrip has added 18 percent in the last 1 year and 40 percent in 2022 YTD. It has risen 14 percent in September so far after a 14 percent jump in August. It has given positive returns continuously for 4 months now.

Ramkrishna Forgings: The brokerage recommends buying this Auto Ancillaries stock between 201-205 band and add more on dips of 178-182. It has given the target price of 230 for the base case and 247 for the bull case scenario and a time horizon of 2-3 quarters. The stock has been flat in the last 1 year, up just 1 percent, however, in 2022 YTD, it has advanced 9 percent. It has risen over 20 percent since July.

Chemcon Specialty Chemicals: The brokerage recommends buying this chemical's stock between 412-418 band and add more on dips of 361. It has given the target price of 465 for the base case and 503 for the bull case scenario and a time horizon of 2-3 quarters. The stock has fallen 6 percent in the last 1 year but has added 20 percent in 2022 so far. It has given positive returns for 4 continuous months since June, rising the most in August, up 24 percent.

Birla Corporation: The brokerage recommends buying this cement stock between 1,082-1,095 band and add more on dips of 1,007-1,027. It has given the target price of 1,192 for the base case and 1,289 for the bull case scenario and a time horizon of 2-3 quarters. The stock has shed 17 percent in the last 1 year and 22 percent in 2022 YTD. It rose 14 percent in September so far after a flat August.

Patanjali Foods: The brokerage recommends buying this FMCG stock between 1,341-1,363 band and add more on dips of 1,180-1,200. It has given the target price of 1,490 for the base case and 1,602 for the bull case scenario and a time horizon of 2 quarters. The scrip has jumped 27 percent in the last 1 year and 58 percent in 2022 so far. It has advanced over 20 percent since July.

First Published: 16 Sep 2022, 12:46 PM IST