Dalal Street investors cheered as the markets closed up in green this week. The 30-Stock basket Sensex rallied 1,457 points or 2.44% during the 5 trading sessions to close at 61,112 points. Similarly, the benchmark NIFTY50 index went up by 2.50% or 441 points recording gains to close at 18,065 points.
The markets shall be closed on Monday, 1 May 2023 on account of Maharashtra Day. Nevertheless, we present you with 6 stock recommendations from leading brokerages you can consider for Tuesday’s trading session.
Maruti Suzuki Ltd.
Car maker Maruti Suzuki rewarded its investors by announcing a dividend of Rs 90 per share as its net profit rose 43% year on year to Rs 2,624 crore. And what’s more? The board submitted its in-principle approval for manufacturing of an additional 10 lakh vehicles every year from the present capacity of 13 lahks. The company will update on the expansion details in the coming months.
ICICI Direct is bullish on the car maker and has initiated a ‘buy’ call on the stock of Maruti Suzuki with a target price of Rs 11,000 per share. This translates into a prospective 28% upside for investors from the present trading price of Rs 8,590.
Macrotech Developers Ltd.
Popularly known as Lodha Developers after the brand change, Macrotech Developers is a leading real estate developer in India. To the present date, the real estate giant has developed over 85 million square feet of land area.
This stock has also received a ‘buy’ rating from HDFC Securities with a target price of Rs 1,249 a piece translating into an impressive 35% upside from Friday’s closing price of 926.
Whirlpool of India Ltd.
Whirlpool of India is the Indian subsidiary of the American MNC Whirlpool Corporation. The Indian entity owns three production sites at Faridabad, Pondicherry and Pune. Its portfolio of products includes washing machines, air conditioners, microwave ovens, small appliances, and more.
Analysts at the domestic brokerage firm Yes Securities have given a one-year price target of Rs 1,808 per share for Whirlpool. This represents a 37% upside from the present level of Rs 1,323.
SBI Life Insurance Ltd.
Analysts at HDFC Securities have put a ‘buy’ call on SBI Life Insurance stock with a target price of Rs 1,580 per share. This reflects an attractive 39% upside for the investors.
Mahindra Lifespace Developers Ltd.
Part of the global conglomerate Mahindra Group, Mahindra Lifespace Developers is a prominent real estate developer in the commercial, residential and industrial space. To the present date, it has undertaken 48 resident projects and 4,500 acres of industrial development.
The leading brokerage firm HDFC Securities has provided a ‘buy’ call on the stock of Mahindra Lifespace Developers with a target price of Rs 521 per share. This converts to a strong 40% upside for this Mahindra Group stock which closed at Rs 372 on Friday.
Life Insurance Corporation of India (LIC)
Owned by the government of India, Life Insurance Corporation (LIC) of India is the largest insurance company and asset management company in the country. It provides a variety of participating and non-participating products such as unit-linked insurance plans, saving insurance schemes, term insurance, health insurance, and more.
BOB Capital Markets has put a ‘buy’ tag on the insurance stock with a target price of Rs 800 per share. This translates into an upside of 45% from Friday’s closing price of Rs 550.
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