Analysts have shared 'buy' calls on companies including ITC Ltd., ONGC Ltd., Kalyan Jewellers India Ltd., Balkrishna Industries Ltd. and Railtel Corp. of India Ltd.
As per the stock calls shared with NDTV Profit, some of these companies could see upside of as much as 11% in the near term from current levels. Some of them have already yielded as much as nearly 111.5% in the past 12 months.
Here are the top stocks to buy, as per Shrikant Chouhan, Executive Vice President and head of equity research at Kotak Securities, Aditya Agarwala, head of research and investments at Invest4edu and Nilesh Jain, head and Vice President of technicals and derivatives research at Centrum Broking.
ITC
Agarwala recommends buying the stock with a target price of Rs 497 and a stop loss at Rs 477. Over the past 12 months, the stock has gained 3.3%. The relative strength index is at 60.91.
According to Bloomberg, 38 analysts track the stock: 33 rate it a 'buy,' three a 'hold,' and two a 'sell.' The consensus 12-month target price is Rs 540.06, indicating a potential upside of 11.7%.
ONGC
Chouhan has suggested buying this stock with a target price of Rs 250 and a stop loss of Rs 234. The stock has risen by 16.51% in the last 12 months. Its relative strength index is at 38.35.
As per Bloomberg data, 30 analysts cover the stock, with 20 assigning a 'buy' rating, five a 'hold,' and five a 'sell.' The 12-month consensus target is Rs 316.65, offering an expected upside of 32.4%.
Kalyan Jewellers
According to Agarwala, the stock is a 'buy' with a target price of Rs 850 and a stop loss at Rs 730. It has gained 111.5% in the last 12 months. The stock’s relative strength index stands at 61.29.
Bloomberg shows that nine analysts cover the stock: eight rate it 'buy,' and one recommends 'sell.' The consensus 12-month target price of Rs 748.14 implies a potential downside of 2.4%.
Balkrishna Industries
Agarwala recommends purchasing the stock with a target of Rs 3,100 and a stop loss at Rs 2,810. Over the past year, the stock has risen 12.96%. Its relative strength index is currently at 60.11.
Of the 24 analysts tracking the stock as per Bloomberg, nine recommend a 'buy,' six suggest 'hold,' and nine advocate 'sell.' The consensus target for the next 12 months is Rs 2,930.95, implying a potential gain of 0.7%.
Railtel
Jain advises buying the stock targeting Rs 420 with a stop loss at Rs 396. The stock has shown a 14.45% uptick in the past 12 months. The relative strength index is recorded at 45.71.
Bloomberg data indicates three analysts cover the stock, with one giving it a 'buy,' and two a 'sell.' Analysts' consensus for the next 12 months sets the target at Rs 287.50, suggesting a downside of 28.8%.
Also Read: Your Guide To FII Positions For Jan. 1 Trade
Disclaimer: The views and opinions expressed by the investment advisers on NDTV Profit are of their own and not of NDTV Profit. NDTV Profit advises users to consult with their own financial or investment adviser before taking any investment decision.
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