Budget 2024 Stocks: In a pre-budget analysis, domestic brokerage house Motilal Oswal expects the government to continue policy continuity to push the overall economic momentum after the NDA returns to power. According to the brokerage, the government will continue to focus on infrastructure, capital expenditure and manufacturing. In such a situation, 5 have been selected from the large-cap segment for the upcoming budget. Let's take a look…
Budget 2024 Stocks: ICICI Bank
1. ICICI Bank: According to the news of Moneycontrol, Motilal Oswal has set a target price of ₹ 1,350 for ICICI Bank, which shows an increase of 8.5%. It is currently trading at around Rs 1260. The brokerage firm estimates that margins will remain limited shortly, but operating profit is emerging as a lever to support income growth.
StockTarget PriceCurrent PricePercentage IncreaseBrokerage FirmICICI Bank₹ 1,350₹ 1,2608.5%Motilal Oswal
HCL Tech: Budget 2024 Stocks
2. HCL Tech: The brokerage has recommended buying HCL Tech keeping in mind the target price of Rs 1,710. Motilal Oswal MOSL said that its strong capabilities in the ER&D space, continued investments to grow digital engineering revenues along strong outsourcing opportunities should deliver sustainable and predictable growth in the future.
Coal India: Budget 2024 Stocks
3. Coal India: The brokerage has a target price of ₹550 for Coal India. It is trading at around ₹512 today. Coal India remains Motilal Oswal's top pick in the metals and mining sector. The outlook for it remains positive with a strong volume outlook, e-auction premium and low costs.
StockTarget PriceCurrent PriceBrokerage FirmPositionOutlookCoal India₹ 550₹ 512Motilal OswalTop pick in the metals and mining sectorPositive outlook with strong volume, e-auction premium, and low costs
State Bank of India: Budget Stocks 2024
4. SBI: The brokerage has a target price of ₹1,015, which implies an upside of 19.5%. It is trading around 880 today. The brokerage said that a strong liability profile, an excellent CD ratio and strong technical capabilities position SBI well to take advantage of growth opportunities.
StockTarget PriceCurrent PricePercentage IncreaseBrokerage FirmOutlookSBI₹ 1,015₹ 88019.5%Not specifiedA Strong liability profile, excellent CD ratio, and strong technical capabilities position SBI well for growth opportunities.
Budget 2024 StocksBudget Stocks 2024: Mankind Pharma
5. Mankind Pharma: The brokerage firm has a target of ₹2,650, implying an upside of over 23%. Motilal Oswal expects a 16% earnings CAGR over FY24-27, given its strong brand outlook, sustainable earnings growth and superior return ratios.
Brokerage FirmCompanyTarget PriceUpsideEarnings CAGR (FY24-27)CommentsMotilal OswalMankind Pharma₹2,650Over 23%Strong brand outlook, sustainable earnings growth, and superior return ratios.
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Chola Inves
a. Chola Inves: The brokerage has a target of ₹1,660, which implies an upside of about 17%. Chola currently collaborates with eight fintech partners who have good scale on their respective platforms, MOSL said.
BrokerageCompanyTarget PriceUpsideCurrent CollaborationsCommentsMOSLChola Invest₹1,660About 17%Collaborates with eight fintech partnersGood scale on their respective platforms.
Mahindra & Mahindra
b. Mahindra & Mahindra: The brokerage has a target of ₹3,300, implying an upside of around 21%. The brokerage said continued prudent capital allocation with a clear focus on returns will lead to stock re-rating.
StockTarget PricePercentage IncreaseBrokerage FirmMahindra & Mahindra₹ 3,30021%Not specified
Overview Data for Share Before Budget 2024
SLStockTarget PriceCurrent PricePercentage IncreaseBrokerage Firm1.ICICI Bank₹ 1,350₹ 1,2608.5%Motilal Oswal2.Coal India₹ 550₹ 512Not specifiedMotilal Oswal3.SBI₹ 1,015₹ 88019.5%Not specified4.Mahindra & Mahindra₹ 3,300Not specified21%Not specified5Mankind Pharma₹2,650
(Disclaimer: Experts' recommendations, suggestions, views and opinions are their own and not of AsiaGlobalBank.com. Here only stock performance information is given, it is not investment advice. Investing in the stock market is subject to risks and consult your advisor before investing.)
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