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With Indian equity markets trading at seven-month lows, non-banking financial companies have started to look attractive.
Five of the eight stocks in the S&P BSE 500 Index that could deliver returns of over 50 percent in next 12 months are NBFCs. These return potentials are calculated based on consensus price targets of analysts tracked by Bloomberg.
Manappuram Finance Ltd. leads the pack, with analysts expecting the company's shares to rise 99 percent. Bharat Financial Inclusion Ltd. comes in second with a return potential of 78 percent. Dewan Housing Finance Corporation Ltd., Muthoot Finance Ltd., and Repco Home Finance Ltd. are all expected to rally between 53 and 58 percent.
These five NBFC stocks corrected between 26 and 42 percent after the demonetisation announcement on November 8.
The remaining three stocks with a return potential of over 50 percent are Suzlon Energy Ltd., JK Tyre & Industries Ltd., and Suntech Realty Ltd.
That's today's chart of the day.
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