Global brokerage Macquarie recently shared its new India Strategy report, highlighting six stocks that they think could double in value over the next three years. They call these stocks the “Rising Stars.” Here’s a quick look at their top picks:
– IRCTC: This company is on top of the list, with a target price of Rs 900. Macquarie believes it has strong growth potential.
– Uno Minda: This stock has a target price of Rs 1,157. Macquarie is excited about its diverse range of auto parts, which should do well in the booming car market.
– Aditya Birla Capital (AB Capital): The target price for this stock is Rs 260. Macquarie thinks it could also double in value within three years.
– Devyani International: A well-known player in fast food, this company has a target price of Rs 230. It is expected to grow as more people have extra money to spend.
– Delhivery: This logistics company has a target price of Rs 380. It is set to benefit from an increase in demand for delivery services.
– Lemon Tree Hotels: This hotel group has a target price of Rs 160. More tourists are expected to visit, leading to better business for them.
In addition, Macquarie has confidence in six other strong stocks for long-term holding over the next 1-2 years, which they call “6 Star Stocks.” These include:
– TCS: Target price Rs 5,620
– HDFC Bank: Target price Rs 2,300
– Sun Pharmaceutical: Target price Rs 2,100
– Mahindra & Mahindra: Target price Rs 3,643
– Trent: Target price Rs 7,000
– Power Finance Corporation: Target price Rs 660
Macquarie recently started following Trent, believing it can become a leading fashion store in India and Asia.
For those looking to invest in the short term, Macquarie also shared six stocks that may perform well in the next six months, known as “tactical opportunities.” Here’s the list:
– Reliance Industries: Target Rs 1,500
– NTPC: Target Rs 475
– Wipro: Target Rs 320
– Tata Motors: Target Rs 826, confident in Jaguar Land Rover’s strong cash position.
– Bharat Electronics (BEL): Target Rs 350
– Shriram Finance: Target Rs 800
Macquarie believes these stocks could provide good returns in the short run. (Disclaimer: These suggestions are based on expert opinions and should not be considered financial advice.)
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