Stocks to Buy: The stock market has been volatile for a long time. Since the beginning of this year, the BSE Sensex has fallen by about 4.83 per cent.
Markets remain under pressure from a number of factors, including high levels of inflation, rising interest rates, geopolitical tensions, banking crises and fears of a recession.
However, brokerage firms have selected some such stocks even in this weak market, which can give you handsome returns of 27 to 40 per cent in the next year.
These stocks include DMart, State Bank of India, Mahindra CIE, Nazara Technologies and Oberoi Realty. Let’s know about them
Avenue Supermarts
Brokerage firm Prabhudas Lilladher says that this company, doing business under the name of DMart, is ready for long growth.
The brokerage said that DMart now has a presence in a total of 22 cities. It has reduced the delivery time to 1 day and also reduced the delivery charges.
This will help the company to add new customers and increase sales. Prabhudas Lilladher has a buy rating on Dmart with a target price of 4699.00.
This is about 39.79 per cent higher than its current market price of Rs 3361.40.
State Bank of India (SBI)
Brokerage firm Motilal Oswal has given Buy rating on SBI stock with a target price of Rs 725.00 in a recent report.
This is about 39.01 per cent higher than its current market price of Rs 521.55. The brokerage says that SBI’s loan growth is looking strong. Recovery is also visible in its corporate loan segment.
The focus of the bank is to keep its credit cost below 0.50%. Also, it aims to maintain the return on assets consistently above 1 per cent.
Nazara Technologies
Brokerage firm ICICI Securities in a recent report has given Buy rating on Najara Tech stock with a target price of Rs 700.00. This is about 38.15 per cent higher than its current market price.
The brokerage says that we expect revenue growth from the eSports segment. Also, Gamified Early Learning (GEL) is showing a gradual recovery.
We expect its revenue growth to accelerate to 34 per cent in FY24. In this, the growth of eSports segment can be up to 45% and the growth of GEL segment can be up to 25%.
Mahindra CIE Automotive
Brokerage firm ICICI Securities in a recent report has a Buy recommendation on Mahindra CIE shares with a target price of Rs 466.00.
This is about 31.73 per cent higher than its current market price of Rs 353.75. The brokerage says that the company is positioned to achieve 8 per cent higher growth than the industry.
For this, she is diversifying the portfolio. It is also looking to provide steel and aluminium castings/forgings apart from stampings and gears to electric vehicle companies in the Indian and European markets.
Oberoi realty
Brokerage firm Motilal Oswal in a recent report has a Buy recommendation on Oberoi Realty shares with a target price of Rs 1100.00.
This is about 27.60 per cent higher than its current market price of Rs 862.10. The brokerage says that the company is about to launch several important projects in FY2024. We expect to grow at 54% annually during FY 2023 to 2026.
