on the part of chooses diwali muhurat, brokerage firm ICICI Securities recommends seven stocks to buy which the brokerage advises investors to use equities for long-term wealth creation by investing in quality companies with strong earnings growth and visibility, steady cash flow. Use it as a major asset class. ROE and ROCE.
Top Diwali Stock Picks of ICICI Securities –
Bata India: According to ICICI Securities, Bata’s focus on cost reduction, omni channel, change in product mix and calibrated expansion of retail network through asset light franchise route is expected to be structurally positive. Brokerage recommended buying range ₹With a target price of 1900-2020 on the stock ₹2,380.
TCNS Clothing: The note added that TCNS Clothing is poised to capture high trajectory growth opportunities in the Indian ethnic wear segment through its three popular homegrown brands. Comes with a price target of 720-760 buy range ₹860.
Bank of Baroda: “Levers are present for the bank to improve operational performance and have a comfortable capitalization, CAR of 15.4%. Further, we believe that the synergies from the merger have not yet fully materialised, which will also help the bank improve its overall performance.” ₹Buying range of 120 and 90-100.
Gateway Distriparks: A strong balance sheet combined with strategically located infrastructure will help GDL capitalize on future growth opportunities and improve its return ratio. The brokerage has a buy recommendation in the 255-275 range with a target price of 350.
Mahindra Lifespace: Brokerage recommended buying range ₹255-280 on stock. with a target price of ₹325, as it likes the company given its strong parentage, management’s focus is on expanding its overall scale of operations and a comfortable balance sheet.
Action Creation Tool: “Despite tough times during the second wave of Covid, the company has outperformed on the back of some increased demand in the construction equipment segment and exports. The company is confident of achieving 20% revenue growth in FY12,” highlighted ICICI Securities. Comes with a price target of buy range of 215-240 ₹300.
VSSL: The brokerage said Vardhman Special Steel is focusing on improving capital efficiency and is targeting an EBITDA/capital infusion of 25% by FY25. It has suggested buy in the range of 250-275 with a target price of 340.
The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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