Mirae Asset Sharekhan Recommends Stocks with Potential 38% Returns in 12 Months
Top-5 Stocks to Buy: Indian stock markets witnessed a rebound on Thursday (February 13th), following six consecutive days of decline. The markets opened on a positive note, with the Sensex and Nifty showing significant gains shortly after. The Sensex climbed by over 400 points, while the Nifty surpassed 23,150. This volatility is considered a good opportunity for long-term investors.
Brokerage House Investment Recommendations
Mirae Asset Sharekhan, in its fundamental update on Thursday, recommended several select stocks for investment over the next 12 months. These include KPR Mill, HDFC Life Insurance, Bharti Airtel, Federal Bank, and Ashok Leyland. The report suggests these stocks could deliver returns of up to 38% by the next budget.
Stocks in Focus:
KPR Mill: A buy recommendation with a target price of ₹1018.
HDFC Life Insurance: Included as a top pick with a potential return of 38%.
Bharti Airtel: A buy recommendation with a potential return of 12%.
Federal Bank: Investment in this banking stock is projected to yield up to 30% return.
Ashok Leyland: A buy recommendation with a projected return of 30%.
Market Rebound After Six Days of Decline
The domestic market had experienced continuous decline for the previous six days, but a significant upswing was recorded on Thursday. This surge in the Sensex and Nifty was primarily attributed to a decrease in the January CPI-based inflation rate and buying at lower levels.
The BSE Sensex opened at 76,201.10, up 30.02 points from its previous close, and by 11:20 AM, it was trading at 76,613.56, up 442.48 points or 0.58%. The Nifty 50 also opened at 23,055.75, up 10.50 points, and by 11:20 AM, it reached 23,190.50, up 145.25 points or 0.63%.
Support from Global Markets
Asian markets showed a mixed trend. China's Shanghai Composite was in the negative, while Japan's Nikkei, Hong Kong's Hang Seng, and South Korea's Kospi were in positive territory. US markets showed a negative trend on Wednesday, with the S&P 500 down 0.27%, the Dow Jones down 0.5%, and the Nasdaq Composite up marginally by 0.03%.
Advice for Investors
Experts believe this market volatility presents new opportunities for investors. However, stock market investments are subject to risks, so it is essential to consult with your financial advisor before investing.
(Disclaimer: This is not investment advice. Stock market investments are subject to risk. Please consult a financial advisor before investing.)
