ICICI Direct identifies 10 stocks with potential upside for festive season
The brokerage has suggested target prices for various shares, including Venus Pipes and Tubes, which could see a 34 per cent rise.
ICICI Direct has identified 10 stocks with potential upside for the festive season, according to a report by The Economic Times. The brokerage's recommendations come as the Nifty and broader market indices undergo a correction from recent highs due to external pressures.
Venus Pipes and Tubes has a target price of Rs 2,340, representing a 34 per cent potential upside against its current market price (CMP) of Rs 1,750. Neogen Chemicals has a target of Rs 2,765, implying a 32 per cent upside from its CMP of Rs 2,100.
Other stocks with significant potential include Info Edge, which has a target price of Rs 1,530 for a 28 per cent upside, and Ethos, with a target of Rs 3,180 for a 23 per cent upside. Apollo Micro Systems has a target of Rs 485, indicating a 21 per cent rise from its CMP of Rs 400.
Indian Hotels has a target price of Rs 990, suggesting a 20 per cent upside from its CMP of Rs 825. Zydus Lifesciences, Adani Ports and SEZ, and Saregama India have target prices of Rs 1,480, Rs 2,210, and Rs 650 respectively, indicating upsides of 19 per cent each.
Kotak Mahindra Bank has a target price of Rs 540, implying a 17 per cent potential upside from its CMP of Rs 460. The brokerage noted that the current market weakness is not a reflection of fundamental deterioration in the domestic earnings cycle.