Stocks to Buy Now: Britannia, Birlasoft, MRPL Among Top Picks with Potential Gains Up to 20%

The Nifty 50 index hit a new high of 24,598 on Monday, July 15, marking its sixth consecutive week of gains. This rise comes as the market continues to perform well, though there are concerns about high valuations.

Experts recommend being cautious with high-valuation stocks and focusing on fundamentally strong ones. Axis Securities suggests that if Nifty 50 stays above 24,600, it could rise to 24,800-25,000, but if it drops below 24,400, it might fall to 24,200-24,000.

Here are 8 stocks that analysts believe could rise between 7-20% in the next 3-4 weeks:

Axis Securities Recommendations:

Dalmia Bharat

• Current Price: ₹1,933.60
• Buying Range: ₹1,925-1,887
• Target Price: ₹2,113-2,150
• Stop Loss: ₹1,803
• Potential Gain: 11%

Dalmia Bharat is showing signs of a medium-term uptrend after breaking above a falling channel. The stock’s weekly RSI also indicates a buy signal.

Britannia Industries

• Current Price: ₹5,787.05
• Buying Range: ₹5,750-5,636
• Target Price: ₹6,160-6,285
• Stop Loss: ₹5,460
• Potential Gain: 9%

Britannia has broken out of a cup and handle pattern, suggesting a continuation of its uptrend. Increased volume at the breakout and strong RSI signals a positive bias.

Birlasoft

• Current Price: ₹732.35
• Buying Range: ₹725-711
• Target Price: ₹798-820
• Stop Loss: ₹678
• Potential Gain: 12%

Birlasoft has broken out of a consolidation zone, indicating an uptrend. Increased volume and a positive RSI support this view.

Manappuram Finance

• Current Price: ₹224.23
• Buying Range: ₹222-218
• Target Price: ₹252-260
• Stop Loss: ₹204
• Potential Gain: 16%

Manappuram Finance has broken above a multi-year resistance, signaling a strong uptrend. The stock is supported by a positive RSI and higher highs on the weekly chart.

Other Analyst Recommendations:

Mangalore Refinery and Petrochemicals (MRPL)

• Current Price: ₹240.21
• Buying Range: ₹235-245
• Target Price: ₹270
• Stop Loss: ₹225
• Potential Gain: 12%

MRPL has shown a breakout with significant volume, indicating a potential rise. The MACD and other technical indicators support a positive outlook.

Hikal

• Current Price: ₹360.45
• Buying Range: ₹335-350
• Target Price: ₹425
• Stop Loss: ₹315
• Potential Gain: 18%

Hikal has broken out of a consolidation range with strong volume, making it an attractive buy. The bullish MACD crossover supports this view.

IRB Infrastructure Developers

• Current Price: ₹68.36
• Target Price: ₹82
• Stop Loss: ₹64
• Potential Gain: 20%

IRB Infrastructure Developers has shown a rising trend and recently broke past a significant moving average, indicating a further rise. The RSI supports a positive move.

Voltas

• Current Price: ₹1,520
• Target Price: ₹1,730
• Stop Loss: ₹1,435
• Potential Gain: 14%

Voltas is in a strong uptrend and has shown a higher low formation. The RSI suggests a trend reversal, indicating a buy.

These stocks are expected to perform well in the next few weeks based on their technical and fundamental indicators.