The Indian stock market has been on a roll, with a 6.5% rise in June and another 2.6% in July. Positive election results, stable inflation, foreign investment inflows, and hopes for a rate cut have boosted investor confidence. As the budget and Q1 earnings season approach, analysts expect continued market growth and advise a stock-specific approach. Here are five stock picks from Globe Capital that could see gains of up to 51% over the next year.
1. Indus Towers
- Target Price: ₹515 (27% Upside)
- Current Performance: Up 149% in the last year, 103% this year
- Strengths: Backed by Bharti Group, major telecom tower company, planning significant 5G rollout
- Details: Operates over 211,775 towers and 360,679 co-locations. Investing ₹9,500 crore in 5G rollout in 2024.
2. Bank of India
- Target Price: ₹165 (37% Upside)
- Current Performance: Up 54% in the last year, 7% this year
- Strengths: Large deposit base, improving financial metrics
- Details: Net profit rose 57% YoY to ₹6,318 crore. Focus on digital initiatives and growth in deposits and advances.
3. SAIL (Steel Authority of India Limited)
- Target Price: ₹215 (51% Upside)
- Current Performance: Up 63% in the last year, 15% this year
- Strengths: Major steel producer, significant expansion plans
- Details: Planning ₹6,300 crore capex this year, targeting 35 million tons capacity by 2030-31.
4. Motherson Sumi Wiring
- Target Price: ₹105 (45% Upside)
- Current Performance: Up 27% in the last year, 17% this year
- Strengths: Leading wiring harness company, strong market share
- Details: Supplies top-selling vehicle models and electric vehicle OEMs. Significant financial backing from Samvardhana Motherson International Limited and Sumitomo Wiring Systems.
5. Great Eastern Shipping
- Target Price: ₹1,735 (31% Upside)
- Current Performance: Up 71% in the last year, 35% this year
- Strengths: Largest private sector shipping company in India
- Details: Reported highest-ever net profits of ₹2,614 crore. Plans for expansion and investment in new ships.
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