Buy Prince Pipes, State Bank of India and Minda Corp for upside of up to 32%, say brokerages

Brokerages HDFC Securities and Axis Securities are bullish on Prince Pipes and Fittings, State Bank of India and Minda Corporation shares. The brokerages see an upside of up to 32% in the stocks in one year. HDFC Securities has revised target price with buy call for State Bank of India and maintained a buy rating on Prince Pipes Ltd. Similarly, Axis Securities revised its rating from hold to buy for Minda Corporation.  

Prince Pipes and Fittings
Brokerage house HDFC Securities has maintained buy rating on Prince Pipes with unchanged target price of Rs 940, which translates into an upside of 32% on base price of Rs 711 per share. On the closing price of Tuesday, it is an upside of over 34%. On Tuesday, plastic products manufacture's shares ended Rs 4.30 lower to Rs 698.25.  
"We continue to like Prince for its large product portfolio and robust pan-India distribution," said the brokerage maintaining buy call on Prince Pipes.  

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State Bank of India
Stating State Bank of India’s (SBI) asset quality continued to surprise positively with annualised credit costs at 1.1%, driving a 5% beat, brokerage house revised the target price on this public lender from Rs 600 to Rs 625. This turns out to be an upside of 18 per cent on base price of Rs 530 a share. Leading Public lender's shares ended marginally lower by 0.39% to Rs 531.10 per share on the BSE.  

Minda Corporation
Axis Securities sees long-term outlook positive for this auto ancillary stock. The brokerage revised the rating of Minda Corporation from hold to buy and believes that the shares could attain a target price of Rs 230 in one year. This translates into an upside of 13% on base price of Rs 204. Minda Corporation corrected as much 3.52% on Tuesday to close at 189 a share on the BSE. The upside on the Tuesday's closing price comes out at 20%.