Top Stock Picks This Week: KEC International and TCS Expected to Rise 14-18%

Stock Market Today: On July 16, Indian stock market benchmarks, Nifty 50 and Sensex, continued their upward streak for the third day, driven by gains in major IT stocks. Hopes of a US interest rate cut in September and strong quarterly earnings boosted the market. However, losses in Reliance Industries and Kotak Mahindra Bank limited the overall gains.

Sensex reached a new high of 80,898.3, and Nifty 50 hit 24,661.25. Sensex closed 52 points higher at 80,716.55, and Nifty 50 ended at 24,613, up 26 points. This marked new closing highs for both indices.

Amid this bullish trend, SMC Global Securities shared its top four stock picks for this week, based on strong fundamentals and technical indicators. These stocks are expected to deliver significant returns over the next year.

SMC Global Securities’ Top 4 Stock Picks

1. KEC International
   • Current Price: ₹887.35
   • Target Price: ₹995
   • Upside: 14%
   • Highlights: KEC’s order book stands at a record ₹37,000 crore, providing visibility for the next 6-8 quarters. The company sees substantial opportunities in the domestic market worth over ₹25,000 crore. The stock is expected to reach ₹995 in 8-10 months.
     
2. Vardhman Textiles
   • Current Price: ₹558.30
   • Target Price: ₹614
   • Upside: 18%
   • Highlights: Vardhman is completing its expansion and modernization plans, aiming to increase green power usage significantly. The stock is expected to hit ₹614 in 8-10 months.
     
3. BirlaSoft Ltd
   • Current Price: ₹720-730
   • Target Price: ₹820-830
   • Upside: 14%
   • Highlights: BirlaSoft has shown a fresh breakout after a period of consolidation. The stock is expected to rise to ₹820-830, with a stop-loss below ₹660.
     
4. TCS
   • Current Price: ₹4,100-4,150
   • Target Price: ₹4,450-4,500
   • Upside: 8-10%
   • Highlights: TCS has formed an Inverted Head & Shoulder pattern, indicating further upside. The stock is expected to reach ₹4,450-4,500, with a stop-loss below ₹3,900.

These picks are backed by strong fundamentals and technical indicators, promising good returns for investors over the next year.