Largecap Stocks: As the economy returns to track, the stock market has reached a record high. Despite being at all-time high, experts are seeing further rally in the market. LORGECAP has been a major contributor to the boom in the market in the past. The 30-cap Sensex has gained nearly 76 percent from its March low. At the same time, there has also been good growth in frontline shares of BSE 100. Expert says that at present there are many such frontline shares, in which there is still growth. These stocks can show good growth in the midterm even further. Their sentiments have also improved after the results of the second quarter. These include stocks like Tata Steel, Coal India and Infosys.
Tata Steel is India’s leading steel maker company. It is a subsidiary of the Tata group. Brokerage house ICICI Direct has advised to invest in Tata Steel with a target of Rs 625. In terms of current price of Rs 575, it can get 9 percent return. The second quarter performance for Tata Steel has been better than expected. The sales volume from India operations has increased by 22 per cent year-on-year and 72 per cent sequentially to 5.05 MT. Europe is also growing in operation. The Kanso topline has also increased by 53 per cent on a quarterly basis. EBITDA stood at 6111 crores. While PAT 1635 crores.
Coal India Limited is India’s public sector coal mining and refining company. The company’s headquarters is Kolkata. It is the highest coal production company in the world. The company holds 82 percent of India’s total coal production. Brokerage house MK Global Financial has advised investing in Coal India with a target of Rs 180. With a current price of Rs 125, the stock can get 44 per cent return. Coal India’s auction premium has been 1.8 per cent, which is lower than expected. Coal India plans to invest 65000 crore in 4 to 5 years ahead. This will meet the target of producing 100 million tonnes. The performance of the company is slowly getting better.
Infosys is the leading multinational IT company in the country. Apart from providing the company Business Consulting, IT Services, Outsomotilal Oswal has advised investing in Infosys with a target of Rs 1355. The current price of the stock is Rs 1112. In such a situation, investors can get 21 percent return here. Infosys Management’s commentary has been raising expectations for the second quarter. The company’s business is coming back to the pre-COVID level. Scope of better growth is seen ahead. The orderbook of the company is better and many deals are in the pipeline. Infosys has a strong client base. The company has implemented new technology in a better way. In the mid-term, the outlook for Infosys is also positive.
(Note: We have given this information based on the report of the brokerage house. There are risks in the market, so take the opinion of experts before investing.)