The Indian stock market started October on a slow note, with major indices like the Sensex and Nifty 50 falling around 1.5% in the first two trading sessions. The market faced a significant drop on Thursday, influenced by weak global signals and rising tensions in the Middle East, especially the Israel-Iran conflict.
Despite this downturn, DRChoksey FinServ has identified six stocks to buy this month, predicting potential upsides of up to 28%. Here are the recommended stocks:
ACC | Buy | Target Price: ₹2,923
The research firm expects ACC to see a revenue growth of 8.8%, EBITDA growth of 15.1%, and PAT growth of 8.4% from FY24 to FY26E. They have set a target price of ₹2,923 per share, maintaining a ‘Buy’ rating.
Glenmark Pharmaceuticals | Buy | Target Price: ₹1,894
Glenmark is expected to achieve a revenue growth of 10.0% and an adjusted PAT growth of 42.5% from FY23 to FY26E. The target price is set at ₹1,894 per share with a ‘Buy’ recommendation.
Godrej Consumer Products | Accumulate | Target Price: ₹1,541
Godrej is focusing on growth through acquisitions and new product categories. The firm estimates a revenue growth of 10.1% and a PAT growth of 18.5% from FY24 to FY26E, giving it an ‘Accumulate’ rating and a target price of ₹1,541.
Rossari Biotech | Buy | Target Price: ₹1,034
Rossari is projected to grow its revenue by 20.3% and PAT by 22.7% from FY24 to FY26E. The target price for Rossari is set at ₹1,034 with a ‘Buy’ rating.
State Bank of India (SBI) | Buy | Target Price: ₹1,010
SBI reported a strong return on equity of 21.0% and a return on assets of 1.1% in Q1FY25. The firm values SBI at ₹1,010 per share, maintaining a ‘Buy’ rating due to its strong capital position and growth potential.
Tata Motors | Accumulate | Target Price: ₹1,156
Tata Motors is expected to perform well, with the target price set at ₹1,156. The stock has an ‘Accumulate’ rating due to positive prospects for its commercial vehicles and Jaguar Land Rover segments.
These stocks are worth considering as the market navigates through current challenges.
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