by Big chance to earn before budget, buy these 8 large cap shares
Budget 2024 Stocks: In a pre-budget analysis, local brokerage house Motilal Oswal expects the government to continue with 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 of the large-cap segments have been selected for the upcoming budget. Let’s have a look…
ICICI Bank: According to Moneycontrol news Motilal Oswal has set a target price of ICICI Bank at ₹1,350, indicating upside of 8.5%. It is currently 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: Brokerage Rs. HCL Tech has a Buy recommendation with a target price of 1,710. Motilal Oswal MOSL said its strong capabilities in the ER&D sector, strong outsourcing opportunities and continued investment to grow digital engineering revenues will provide sustainable and predictable growth in the future.
Coal India: The brokerage has set a price target of ₹550 on Coal India. Today it is trading around Rs 512. Coal India is Motilal Oswal’s top pick in the metal and mining sector. Its outlook remains positive with strong volume outlook, e-auction premium and low price.
SB I: The brokerage has set a target price of ₹1,015, suggesting upside of 19.5%. Today it is trading around Rs 880. A strong liability profile, excellent CD ratio and strong technical capabilities position SBI well to capitalize on growth opportunities, the brokerage said.
L&T: The local brokerage firm has set a target of ₹4,150, which represents an upside of around 14%. Today it is trading at Rs.3627. MOSL believes that post-election increase in domestic inflows, completion of low-margin legacy projects in 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, indicating an upside of around 21%. A stock re-rating will result in continued prudent capital allocation with a clear focus on returns, the brokerage said.
Mankind Pharma: The brokerage firm has set a target of ₹2,650, representing 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 investment: The brokerage has set a target of ₹1,660, implying an upside of around 17%. Chola currently collaborates with eight fintech partners who have good scale on their respective platforms, MOSL said.
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