Stocks to Buy: 6 Stocks that have the potential to deliver returns of more than 50%

 by  | May 19, 2024 | 4:00 pm | Editor's Pick, News | 0 comments


The Benchmark Indices closed in the green on Friday, with the Sensex experiencing a gain of 253.31 points or 0.34 percent, ending the week at 73,917.03, and the Nifty 50 index up by 0.28 percent or 62.25 points, to close at 22,466.1. 

The Nifty 50 index moved up by 2.34 percent over the previous five trading sessions, while the Sensex gained about 2.7 percent. 

Following are the six stocks for which brokerages recommended an upside of up to 52 percent. 

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Devyani International Limited 

With a market capitalisation of Rs. 18,362.82 crore, the share price of the stock moved up by 1% on BSE to hit an intraday high at Rs. 152.6 in the trading session of Friday. 

The analysts of brokerage firm Motilal Oswal gave a ‘buy’ recommendation on Devyani International with a target price from Rs. 185 apiece, representing a potential upside of 22 percent from the closing price of Rs. 152.25. 

Devyani International Limited is a multi-dimensional comprehensive quick service restaurant(QSR) player in India, and is primarily engaged in the business of developing, managing and operating quick service restaurants and food courts for brands including Pizza Hut, KFC, Costa Coffee, and Vaango. 

Safari Industries (India) Limited 

With a market capitalisation of Rs. 10,146.3 crore, the share price of the stock moved up by 3.2 percent on BSE to hit an intraday high at Rs. 2,089.50 in the trading session of Friday. 

IDBI Capital maintained a ‘buy’ recommendation on Safari Industries with a target price of Rs. 2,535 apiece, representing a potential upside of 22 percent from the closing price of Rs. 2,080.55. 

Safari Industries was started as a partnership firm in 1974 to manufacture plastic moulded luggage and manufacture injection moulded plastic articles and vacuum-formed plastic articles. 

Abbott India Limited 

With a market capitalisation of Rs. 56,289.83 crore, the share price of this stock moved up by 0.4 percent on BSE to hit an intraday high at Rs. 26,643.95 in the trading session of Friday.

The brokerage firm ICICI Securities maintained a ‘Buy’ recommendation for the company’s stock with a target price of Rs. 32,500 indicating a potential upside of 23 percent compared to its closing price of Rs. 26,490.2. 

Abbott India offers a wide range of nutritional items based on science, diagnostic tools, branded generic medications, and diabetic and vascular devices. 

Shree Cement Limited 

With a market capitalisation of Rs. 94,970.84 crore, the share price of this stock moved up by 2.7 percent on BSE to hit an intraday high at Rs. 26,355.6 in the trading session of Friday. 

Sharekhan gave a ‘Buy’ recommendation for the company’s stock with a target price of Rs. 34,000 indicating a potential upside of 30 percent compared to its closing price of Rs. 26,321.75. 

Shree Cement Ltd. is one of India’s premier cement makers and its manufacturing operations are spread over North and East India across six states. 

J K Cement Limited 

With a market capitalisation of Rs. 30,175.15 crore, the share price of this stock moved up by 2.03 percent on BSE to hit an intraday high at Rs. 3,928.05 in the trading session of Friday. 

Brokerage firm Motilal Oswal gave a ‘Buy’ recommendation for the company’s stock with a target price of Rs. 5,300 indicating a potential upside of 36 percent compared to its closing price of Rs. 3,906.1. 

JK Cement Limited is one of the leading manufacturers of Grey Cement in India and one of the leading White Cement manufacturers in the world. 

Syrma SGS Technology Limited 

With a market capitalisation of Rs. 7,020.83 crore, the share price of the stock moved up by 1.2 percent on BSE to hit an intraday high at Rs. 402.95 in the trading session of Friday. 

The analysts of brokerage firm ICICI Securities maintained a ‘buy’ rating on Syrma SGS Technology with a target price of Rs. 600 apiece, representing a potential upside of 52 percent from the closing price of Rs. 395.35. 

Syrma SGS Technology is a technology-focused engineering and design, and is engaged in turnkey electronics manufacturing services, specialising in precision manufacturing for diverse end-use industries.

Written by Shivani Singh

Disclaimer

The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.

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