Brokerage reports suggest a lucrative investment opportunity in large-cap stocks such as HDFC Bank, ICICI Bank, SBI Life, Tata Consumer, and Hindalco.
Stocks to buy: On Wednesday, the BSE Sensex closed at 80,242, down 46 points, while the Nifty 50 slipped 2 points to close at 24,334. This slight dip follows two days of market gains. Despite this, several brokerage firms have raised the target prices of several large-cap stocks, signaling potential further growth for investors.
Which stocks saw target price increases last month?
According to Trendline, seven major brokerages increased their target prices for five stocks in the BSE large-cap index last month. These include HDFC Bank, ICICI Bank, SBI Life, Tata Consumer, and Hindalco.
HDFC Bank
Target Price: ₹2,152
Potential Return: 12%
Brokerages Upgrading Target: 7
Brokerage firms believe the bank's fundamentals are b, and the stock is poised for better performance in the future.
ICICI Bank
Target Price: ₹1,595
Potential Return: 12%
Brokerages Upgrading Target: 6
Investor confidence in this stock remains b due to its digital expansion, asset quality, and robust retail portfolio.
SBI Life Insurance
Target Price: ₹1,928
Potential Return: 9%
Brokerages Upgrading Target: 5
With growth in the insurance sector, this stock could be a good mid-term option for investors.
Tata Consumer Products
Target Price: ₹1,205
Potential Return: 4%
Brokerages Upgrading Target: 4
The stability of the FMCG sector and the strength of the brand make this a suitable long-term investment.
Hindalco Industries
Target Price: ₹745
Potential Return: 19%
Brokerages Upgrading Target: 3
Demand in the metal sector and stability in international prices have put this stock on investors' radar.
