06 Oct , 2021 By : Kanchan Joshi
With the time frame of around three months, domestic brokerage and research firm ICICI Securities has 'Buy' recommendations and sees potential upside on these stocks that include Genus Power infrastructure, aluminum and copper producer Hindalco, Housing Development Finance Corporation (HDFC), and Bajaj Finance.
Here are ICICI Securities' top stock picks:
Genus Power: The power sector index has given a breakout above last one decade’s highs, indicating a structural turnaround after multi year underperformance. Genus Power, a key beneficiary of smart meter reform, is on the verge of challenging its 2008 and 2018 highs, suggesting a change of orbit for the share price and is expected to outperform in coming months.
The brokerage's ‘Buy’ recommendation with a target price of Rs92 per share and stop loss of Rs67 apiece.
Hindalco: ICICI Securities' Buy stance on the metal stock comes with a target price of Rs540 apiece and a stop loss of Rs455 per share with the time horizon of three months.
Hindalco is the world''s largest aluminum rolling company and among the biggest producers of primary aluminium in Asia.
HDFC: Within housing finance space (proxy to real estate sector), the brokerage likes HDFC, which is expected to catch up and outperform, going forward. ICICI Securities' Buy stance on the stock comes with a Rs3,125 apiece target price and stop loss of Rs2,628.
Bajaj Finance: The ‘Buy’ rating on the financial services company comes with a target price of Rs8,630 per share and stop loss of Rs7,150 with a time horizon of three months.
Bajaj Finance is a dominant player in the consumer finance space while it also has made a foray into various other lending segments like housing, SME lending, etc.
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