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ICICI Bank, Infosys, among the Biggest Stock Picks in 2021 with a Potential Rise of Over 13%

The brokerage firm believes that the private banks are over-provisioning and is likely to lead the way. Photo: ReutersIndian stock markets hit a new record high again, with the BSE Sensex Rule over 49,200 for the first time ever. The widest Nifty 50 The index topped the crucial 14,450 level in today’s optimistic trading. Local search and brokerage firm IIFL Securities It picked five big stocks with the potential to make decent gains in 2021 on the back of the rich valuations. The brokerage firm said valuations were 40 per cent richer than last year, after a steep two-month rise that saw participation from nearly every sector. The brokerage firm believes that the private banks are over-provisioning and is likely to lead the way. While the IT sector leads Infosys, In an upgrade cycle, is supposed to continue into 2021.

Top Big-Cap Stocks to Buy-

Cipla

Target Price: Rs 950

Cipla’s business in India significantly outperformed market growth in FY 21 led by its COVID-19 drug portfolio. Brokerage firms are seeing a 13.31 percent rise in share price, as it believes that One-India’s strategy for the company will continue to drive synergies and market-hit growth across its three business sectors of Prescription, Commercial Pharmaceutical and Consumer Healthcare. Moreover, the Revlimid patent settlement for a possible year launch in the second half of FY 23 provides additional growth visibility.

ICC Bank

Target Price: Rs 580

A 7 percent rally would be required to reach the target price of Rs 580 per lot pegged by the brokerage firm. The potential recovery of the private bank in profitability, the strong increase in value from the insurance, asset management, brokerage and stable management team, IIFL Securities believes that ICICI Bank shares are likely to continue the reclassification.

Infosys

Target Price: Rs 1,480

Hoping for strong earnings in the October-December quarter, IT stocks are charting an upward path. Infosys share price reached a new 52-week high of 1,381.25 rupees a share in today’s strong trading. The local brokerage firm believes the shares have another potential to rise by as much as 13 per cent from the previous close. He noted that Infosys is well positioned to gain a share of the portfolio within customers, led by its automation-led cloud offerings and efficiency solutions, which are further strengthened by an institutional large deals team with a focus on higher profit rates. “We believe Infosys will outperform TCS On revenue growth of 500 basis points + in FY 21, after a gap of 300 basis points in the past year as well.

Subsidiary Body for Implementation life insurance

Target Price: Rs 1060

And because of the attractive valuations, SBI Life Insurance’s share price may rise by 13.4 percent. IIFL Securities notes that the company is showing greater resilience against overall pressures versus its peers, with the help of robust innovations.

SRF

Target Price: Rs 6,500

The local research firm sees a 10 percent increase in SRF’s share price. SRF is poised to achieve strong profit growth in the coming years, against the backdrop of promising opportunities in its fluorine niche business and a cyclical boom in the chiller business as end-use demand from the automotive and white goods industries recovers.

(The stock recommendations in this story are by the respective brokerage and research firm. Financial Express Online does not assume any responsibility for their investment advice. Please consult an investment advisor before investing.)

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