JM Financial Services has identified twelve stocks as attractive investment opportunities for Diwali 2023. These stocks are expected to provide potential gains, and here’s the list:
Reliance Industries (RIL): JM Financial Services predicts a 16.76% upside for RIL, with a target price of Rs 2,700. This positive outlook is driven by expected strong earnings growth, primarily attributed to an anticipated 10% increase in average revenue per user (ARPU) from Jio and robust performance in the retail business.
State Bank of India (SBI): The analyst report sees a 17.66% upside for SBI, with a target price of Rs 665. The stable core fundamentals, strong CASA franchise, and digital banking platform make SBI an attractive investment.
Larsen & Toubro (L&T): JM Financial Services has set a target price of Rs 3,430, up 17.21% from the current market price for L&T. The positive earnings outlook is driven by strong order intake, improved execution, and reduced asset intensity.
Titan Company: JMFS indicates a 17.12% upside for Titan, with a target price of Rs 3,650. The company is expected to achieve significant growth in the jewellery segment and consumer spending on watches and wearables.
Hindustan Aeronautics (HAL): Analysts predict a 21.55% upside in HAL’s stock, with a target price of Rs 2,230. HAL’s dominant position in India’s defence aerospace sector and strong technological capabilities contribute to its positive outlook.
Sun Pharmaceuticals: JM Financial Services has set a target price of Rs 1,300 for Sun Pharmaceuticals, reflecting a 16.57% increase. The company’s strong growth in its specialty business and strengthening balance sheet contribute to the positive outlook.
Ashok Leyland: The target price for Ashok Leyland is Rs 200, representing a 19.08% upside. The company is poised for substantial expansion in the domestic commercial vehicle sector.
SJVN: One of India’s largest hydropower utilities, SJVN, is expected to reach a target price of Rs 80, up 14.86%. The company’s total generation is set to grow significantly due to its installed hydro capacity and under-construction projects.
Coforge: JM Financial Services has set a target price of Rs 5,920 for Coforge, an 18.67% upside. The company’s focus on risk and compliance in the BFS sector has led to significant success.
Go Fashion India: JMFS sees a 23.24% upside in Go Fashion (India) stock, with a target price of Rs 1,540. The company’s remarkable growth and durability make it a leading player in the bottom-wear market.
Sapphire Foods India: Analysts have predicted a target price of Rs 1,560, up 21.54%, for the Sapphire Foods India stock. The company operates in the QSR space with subsegments like KFC and Pizza Hut.
Stylam Industries: Stylam Industries is expected to reach a target price of Rs 2,070, up 21.55%. The company stands out in the decorative laminate market due to its innovative high-value products and strong market performance.
These stocks offer potential gains for investors during the Diwali season, as per JM Financial Services.