According to Bloomberg consensus estimates, there are about 15 stocks tracked by at least 20 research firms that could return between 13% and 50% in a year.
For instance, 51 of the 53 analysts tracking ICICI Bank stock have a buy rating with a consensus target price of ₹1,117 against the current price of ₹826.
About 33 of the 34 analysts recommend buying SBI Life with a target price of ₹1,559, which is 46% higher than the current market price. Similarly, all 24 analysts tracking Hindalco have a buy rating with a target price of ₹534 compared to the latest price of ₹406.
Prestige Estates Projects, Birla Corp, State Bank of India, Axis Bank, Federal Bank, HDFC Bank, HDFC, Adani Ports, ITC, NTPC, and Apollo Hospitals are among the most-loved stocks by analysts on Dalal Street.
“The impact of Silicon Valley Bank collapse in the US is likely to be limited, but sentiment will turn fragile and create nervousness in the market taking a cue from global market volatility if not in the magnitude of Covid-19 crises or 2008 meltdown,” said Gaurav Dua, head of capital market strategy at Sharekhan. “But the big picture is this again can be a lifetime opportunity for investors. Use the market weakness and volatility, if any, to buy quality stocks for investment.”