Large-cap stock picks: Brokerage firm Axis Securities has included 7 large-cap category stocks in its February stock picks. The brokerage firm believes that these stocks can give strong returns to the investors.
Large-cap stock picks: Domestic markets have had a weak start to this year. There are constant ups and downs in the stock markets. Sensex was trading in red mark today i.e. on Tuesday. At the time of writing the report, it is trading around 57,300 with a fall of 0.41 per cent, while the Nifty 50 is down 0.22 per cent above the level of 17,100. In this way, the market is looking weak for the fourth consecutive day today. Global inflation and rising crude oil prices are affecting the stock market, however investors need to choose the right stocks to earn well. Axis Securities has included 7 stocks in the large-cap category in its February stock picks. The brokerage firm believes that these stocks can give strong returns to the investors.
ICICI Bank: Buy
Target price: Rs 990
Axis Securities has included private sector ICICI Bank in its top picks. “The bank is performing better than its peers,” the brokerage firm said in the note. “In terms of valuation, we believe that the bank is in a good position,” he said. ICICI Bank has a strong loan book and the asset quality has improved, due to which analysts are bullish.” The brokerage firm has fixed a target price of Rs 990 for this stock, which is 25 percent more than the current price.
Bajaj Auto: Buy
Target price: Rs 4,250
The major company of the domestic motorcycle market, Bajaj Auto, has been given a Buy rating by the brokerage firm. The stock has gained around 6% so far this year. The company has a strong export profile. The brokerage firm has fixed a target price of Rs 4250 for this. To reach the target price, the share price of Bajaj Auto will have to gain 22 per cent.
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Tech Mahindra: Buy
Target price: Rs 2,060
The brokerage firm has also bet on IT sector big company Tech. The company has a presence in various geographies ranging from North America to Europe, the Middle East and Australia. The brokerage firm said in the note, “We believe that Tech Mahindra has a sound business structure and expects good revenue growth in the long term. Although it is trading at a discount as compared to its peers.” Analysts have given it a Buy rating with a target price of Rs 2,060, which is 43 per cent higher than the current price.
Maruti Suzuki India: Buy
Target price: Rs 9,800
New launches at Maruti Suzuki are expected to accelerate growth. Management has said that the semiconductor shortage situation has improved. The brokerage firm has fixed a target price of Rs 9800 for this stock. To reach the target price, the share price of Maruti Suzuki would have to gain 14 per cent.
State Bank of India: Buy
Target price: Rs 645
The asset quality of the country’s largest state-run bank State Bank of India (SBI) has improved, which according to analysts is a good sign. The brokerage firm has given a buy rating to this stock and has set a target price of Rs 645. To reach the target price, SBI’s share price will have to gain 21 per cent.
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Hindalco Industries: Buy
Target price: Rs 570
Hindalco Industries is a leading metal company of Aditya Birla Group. It is the largest primary producer of aluminum in Asia. Aluminum prices are expected to remain firm this year, which will help Hindalco. The firm said, “Hindalco has a net debt/EBITDA of 1.93 times, which is well below the target of 2.5 times. We expect deleveraging to continue, which will further strengthen the balance sheet of the company.” The brokerage firm has fixed a target price of Rs 570 for this.
Bharti Airtel: Buy
Target price: Rs 810
The brokerage firm has also bet on Bharti Airtel. Strong quarterly results, encouraging trend in Africa business, strong ARPU and strong business fundamentals are the key factors, which are leading analysts to expect a rally on the stock. The brokerage firm has fixed a target price of Rs 810 for this.
(Article: Kshitij Bhargava)
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