Great opportunity to earn before the budget, buy these 8 large cap shares
Budget 2024 Stocks: In a pre-Budget analysis, domestic brokerage house Motilal Oswal expects the government to continue policy continuity to boost 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, 8 have been selected from the large-cap segment for the upcoming budget. Let’s take a look…
ICICI Bank: According to Moneycontrol news Motilal Oswal has kept the target price of ICICI Bank at ₹1,350, which indicates an upside of 8.5%. Right now it is trading around Rs 1260. The brokerage firm estimates that margins will remain range-bound in the near term, but operating profit is emerging as a lever to support earnings growth.
HCL Tech: The brokerage has advised to buy HCL Tech keeping in mind the target price of Rs 1,710. Motilal Oswal MOSL said its strong capabilities in the ER&D sector, coupled with strong outsourcing opportunities and continued investment to grow digital engineering revenues should provide sustainable and predictable growth in the future.
Coal India: The brokerage has kept a target price of ₹550 for Coal India. Today it is trading around Rs 512. Coal India remains Motilal Oswal’s top choice in the metal and mining sector. The outlook for it remains positive with strong volume outlook, e-auction premium and low costs.
SB I: The brokerage has set a target price of ₹1,015, which implies an upside of 19.5%. Today it is trading around Rs 880. The brokerage said a strong liability profile, an excellent CD ratio and strong technical capabilities position SBI well to take advantage of growth opportunities.
L&T: This domestic brokerage firm has set a target of ₹4,150, which shows an upside of about 14%. Today it is trading at Rs 3627. MOSL believes pickup in domestic flows post elections, completion of low margin legacy projects over the next few quarters and continued reduction in working capital and consequent improvement in ROCE are expected. It expects 20% PAT CAGR in FY24-26E.
Mahindra & Mahindra: The brokerage has set a target of ₹3,300, which indicates an upside of about 21%. The brokerage said continued prudent capital allocation with a clear focus on returns will lead to a stock re-rating.
Mankind Pharma: The brokerage firm has set a target of ₹2,650, which shows an upside of over 23%. Given its strong brand outlook sustainable earnings growth and better return ratios, Motilal Oswal expects 16% earnings CAGR in FY24-27.
Chola Invest: The brokerage has set a target of ₹1,660, which indicates an upside of about 17%. Chola currently collaborates with eight fintech partners who have good scale on their respective platforms, MOSL said.
,Disclaimer: The recommendations, suggestions, views and opinions of the experts are their own and not those of Live Hindustan. Here only information about the performance of the share is given, it is not an investment advice. Investing in the stock market is subject to risks and please consult your advisor before investing.)
