Buy these 8 stocks for up to 26% returns by next Ganesh Chaturthi

The domestic equity markets, hovering around record high levels, have delivered humungous returns to investors since the last Ganesh Chaturthi. While the benchmark BSE Sensex has jumped nearly 52% since August 21 last year, the BSE Midcap and Smallcap indices have gained 64% and 88%, respectively, during the same period. Analysts on Dalal Street believes that robust inflows by foreign institutional investors, liquidity measures taken by the government and RBI and pickup in vaccination drive have mainly aided sentiment. With a rally of 741%, Adani Total Gas emerged as the top gainer among largecap and midcaps. Shares of the company have jumped to Rs 1393.05 on September 8, 2021 from Rs 165.55 on August 21 last year. Adani Enterprises (up 567%), Adani Transmission (up 533%), JSW Energy (up 360%), Tata Elxsi (up 358%), APL Apollo Tubes (up 295%), Deepak Nitrite (up 263%), Max Healthcare Institute (up 242%), Linde India (up 234%) and Tata Steel (up 233%) stood among other major gainers in the list. Among the top 250 companies on the basis of market capitalistion, 59 companies have more than doubled investors wealth since last Ganesh Chaturthi. As many as 75 first rallied between 50%-100% during the same period. Going ahead, brokerage Axis Securities believes that equity market is likely to be the best performing asset for the next 1-2 years. Amar Ambani of YES Securities is also positive on the Indian equity market. He believes that the 30-share index Sensex may hit 1,25,000-mark by December 2025. If you are looking for some stocks for your equity portfolio considering the positive outlook, here are 8 stocks that may give decent returns by next Ganesh Chaturthi:

Recommendation by: Sharekhan

Infosys | Target price: Rs 1,950 | CMP: Rs 1,685 | upside: 16% Management indicated demand would stay strong for 2-4 years led by clients’ high spends on cloud and digital transformation, urgency for core modernisation and greater offshoring. Sharekhan maintained a Buy on the stock given strong growth potential, healthy deal wins and broad-based demand. ICICI Bank | Target price: Rs 876 | CMP: Rs 720 | upside: 22% The bank has seen a significant improvement in business and financial parameters and has steered well through the pandemic. The trend was visible in strong performance in Q1FY22 and guidance for lower gross NPA additions in Q2FY22 with a meaningful decline likely from H2FY22 onwards. It is emerging as growth leader with improving return ratios, making it Sharekhan's preferred pick in the banking sector. Dr Reddy's Labs | Target price: Rs 5,900 | CMP: Rs 4,900 | upside: 20% The brokerage believes that the focus on geographic expansion and OTC business to drive the India business growth. Opportunities from Covid products including vaccines to also add to the growth.

Recommendation by: Angel Broking

Ashok Leyland | Target price: Rs 158 | CMP: 125 | upside: 26% Angel Broking believes that the company is ideally placed to capture the growth revival in the commercial vehicle segment and will be the biggest beneficiary of the government’s voluntary scrappage policy and hence rate the stock a 'Buy'.

Recommendation by: Capital Via

IRCTC | Target price: Rs 4,000 | CMP: Rs 3,335 | upside: 20% IRCTC is just not an E-ticketing business as it has emerged in areas like the food, hospitality business, moreover, it has emerged as transport business. Now, it has become one of the biggest homegrown e-commerce platform. Capital Via believes that the stock can hit Rs 4,000 going ahead.

Recommendation by: Equirus Securities

Oberoi Realty | Target price: Rs 914 | CMP: Rs 779 | upside: 17% Oberoi Realty is one of India’s most established brands with a focussed strategy of need-based land acquisition, purchase of land parcels only from reputed players and addressing consumer aspirations across price points. The company has benefited from recent consolidation in the industry post-RERA and demonetisation. Historically low lending rates, stamp duty cuts and consumer preference for brands and ready-to-move-in properties augur well for Oberoi Realty. Equirus is positive on Oberoi Realty considering a strong pipeline in the high-growth Mumbai Metropolitan Region (MMR), a sizeable annuity portfolio and a lean balance sheet.

Recommendation by: Edelweiss Securities

Polycab India | Target price: Rs 2,800 | CMP: Rs 2,396 | upside: 17% The brokerage recently upgrades Polycab to 'Buy' (from ‘Hold’) on the back of greater earnings comfort and consistency in managing scale well despite volatility. It has charged up its balance sheet to be levered up for structural growth via a pan-India consumer brand that could command greater total addressable market (TAM) and revenue share.

Recommendation by: YES Securities

Nippon Life India AMC | Target price: Rs 515 | CMP: Rs 439 | upside: 17%

The company continues to enjoy a moat with regard to B-30 customers as it has built long-standing relationships with distributors on the back of providing support to them. The debt business has started to turn around in the last 12-15 months on the back of improved performance and an enhanced risk framework. The institutional business has also bounced back handsomely with the re-activation of as many as 850 large accounts since name change.

The domestic equity markets, hovering around record high levels, have delivered humungous returns to investors since the last Ganesh Chaturthi. While the benchmark BSE Sensex has jumped nearly 52% since August 21 last year, the BSE Midcap and Smallcap indices have gained 64% and 88%, respectively, during the same period. Analysts on Dalal Street believes that robust inflows by foreign institutional investors, liquidity measures taken by the government and RBI and pickup in vaccination drive have mainly aided sentiment.

With a rally of 741%, Adani Total Gas emerged as the top gainer among largecap and midcaps. Shares of the company have jumped to Rs 1393.05 on September 8, 2021 from Rs 165.55 on August 21 last year. Adani Enterprises (up 567%), Adani Transmission (up 533%), JSW Energy (up 360%), Tata Elxsi (up 358%), APL Apollo Tubes (up 295%), Deepak Nitrite (up 263%), Max Healthcare Institute (up 242%), Linde India (up 234%) and Tata Steel (up 233%) stood among other major gainers in the list.

Among the top 250 companies on the basis of market capitalistion, 59 companies have more than doubled investors wealth since last Ganesh Chaturthi. As many as 75 first rallied between 50%-100% during the same period. Going ahead, brokerage Axis Securities believes that equity market is likely to be the best performing asset for the next 1-2 years. Amar Ambani of YES Securities is also positive on the Indian equity market. He believes that the 30-share index Sensex may hit 1,25,000-mark by December 2025.

If you are looking for some stocks for your equity portfolio considering the positive outlook, here are 8 stocks that may give decent returns by next Ganesh Chaturthi:

Recommendation by: Sharekhan

Infosys | Target price: Rs 1,950 | CMP: Rs 1,685 | upside: 16%
Management indicated demand would stay strong for 2-4 years led by clients’ high spends on cloud and digital transformation, urgency for core modernisation and greater offshoring. Sharekhan maintained a Buy on the stock given strong growth potential, healthy deal wins and broad-based demand.

ICICI Bank | Target price: Rs 876 | CMP: Rs 720 | upside: 22%
The bank has seen a significant improvement in business and financial parameters and has steered well through the pandemic. The trend was visible in strong performance in Q1FY22 and guidance for lower gross NPA additions in Q2FY22 with a meaningful decline likely from H2FY22 onwards. It is emerging as growth leader with improving return ratios, making it Sharekhan’s preferred pick in the banking sector.

Dr Reddy’s Labs | Target price: Rs 5,900 | CMP: Rs 4,900 | upside: 20%
The brokerage believes that the focus on geographic expansion and OTC business to drive the India business growth. Opportunities from Covid products including vaccines to also add to the growth.

Recommendation by: Angel Broking

Ashok Leyland | Target price: Rs 158 | CMP: 125 | upside: 26%

Angel Broking believes that the company is ideally placed to capture the growth revival in the commercial vehicle segment and will be the biggest beneficiary of the government’s voluntary scrappage policy and hence rate the stock a ‘Buy’.

Recommendation by: Capital Via

IRCTC | Target price: Rs 4,000 | CMP: Rs 3,335 | upside: 20%

IRCTC is just not an E-ticketing business as it has emerged in areas like the food, hospitality business, moreover, it has emerged as transport business. Now, it has become one of the biggest homegrown e-commerce platform. Capital Via believes that the stock can hit Rs 4,000 going ahead.

Recommendation by: Equirus Securities

Oberoi Realty | Target price: Rs 914 | CMP: Rs 779 | upside: 17%
Oberoi Realty is one of India’s most established brands with a focussed strategy of need-based land acquisition, purchase of land parcels only from reputed players and addressing consumer aspirations across price points. The company has benefited from recent consolidation in the industry post-RERA and demonetisation. Historically low lending rates, stamp duty cuts and consumer preference for brands and ready-to-move-in properties augur well for Oberoi Realty. Equirus is positive on Oberoi Realty considering a strong pipeline in the high-growth Mumbai Metropolitan Region (MMR), a sizeable annuity portfolio and a lean balance sheet.

Recommendation by: Edelweiss Securities

Polycab India | Target price: Rs 2,800 | CMP: Rs 2,396 | upside: 17%

The brokerage recently upgrades Polycab to ‘Buy’ (from ‘Hold’) on the back of greater earnings comfort and consistency in managing scale well despite volatility. It has charged up its balance sheet to be levered up for structural growth via a pan-India consumer brand that could command greater total addressable market (TAM) and revenue share.

Recommendation by: YES Securities

Nippon Life India AMC | Target price: Rs 515 | CMP: Rs 439 | upside: 17%

The company continues to enjoy a moat with regard to B-30 customers as it has built long-standing relationships with distributors on the back of providing support to them. The debt business has started to turn around in the last 12-15 months on the back of improved performance and an enhanced risk framework. The institutional business has also bounced back handsomely with the re-activation of as many as 850 large accounts since name change.