Stocks to Buy: Up to 71% return in falling market! Brokerage recommends buying these 4 stocks
Stocks to Buy: The domestic stock market has been in a downward trend for the past month and a half, leaving many investors' portfolios in the red. Weak earnings results for the September quarter have also added pressure on market sentiment. However, despite the current market correction, several companies have continued to perform well, and their future outlook remains strong.
Disclaimer: The views/suggestions/recommendations expressed here in this article are solely by investment experts. Zee Business suggests its readers consult their investment advisers before making any financial decision.
Stocks to Buy: Antique Research's Pick
These four stocks are Kolte-Patil Developers, Sunteck Realty, Allied Blenders and Distillers, and CESC.
Kolte-Patil Developers Share Price Target
Brokerage is highly bullish on Kolte-Patil Developers, a real estate company, projecting a substantial upside. The stock, currently priced around Rs 354, has a target price of Rs 618, which implies a 71 per cent upside from Wednesday's closing of Rs 361.
Kolte-Patil Developers Share Price Target
The brokerage has increased its previous target of Rs 596 by 4 per cent. The company posted strong results in the September quarter, recording its highest-ever quarterly bookings and generating healthy cash flows.
Sunteck Realty Share Price Target
Sunteck Realty is another real estate stock that has caught the attention of analysts. The stock is currently trading at Rs 494, with a target price of Rs 786, offering an upside of 60 per cent compared to Wednesday’s close of Rs 491.
Sunteck Realty Share Price Target
The brokerage has raised its previous target of Rs 759 by 4 per cent. The company has performed well in the recent quarter, with positive net cash flow and sustained sales from its BKC project.
Allied Blenders and Distillers Share Price Target
Brokerage Antique Research has initiated coverage on Allied Blenders and Distillers with a BUY recommendation, forecasting a 31 per cent return. The stock is currently priced at Rs 314, with a target of Rs 405, a 31 per cent upside from Wednesday's closing of Rs 308.
Allied Blenders and Distillers Share Price Target
The company is expanding its premium offerings through global partnerships and new product launches, and its presence in high-margin states is expected to drive growth. Additionally, the company's focus on backward integration and cost rationalization should boost margins.
CESC Share Price Target
Finally, CESC, a power company, has also received a BUY rating from the brokerage. The stock is currently trading at Rs 175, with a target price of Rs 203, offering a 16 per cent upside from its Wednesday closing of Rs 175.
CESC Share Price Target
CESC’s business has remained stable, and its consolidated profit after tax (PAT) for Q2 FY25 increased by 3 per cent year-on-year, in line with expectations.