The recent decline across the Nifty and broader market gauges stems largely from external pressures while underlying domestic performance remains intact. To leverage these conditions, ICICI Direct has presented ten specific stocks with projected returns reaching as high as 34%. Among these choices, Venus Pipes and Tubes holds the largest return forecast with an upside target of Rs 2,340 from its current trading value.
Key points
Market corrections from record peaks are attributed to external global factors rather tha…: Market corrections from record peaks are attributed to external global factors rather than deteriorating domestic earnings cycles.
Brokerage recommendations span diverse sectors including chemicals, consumer retail, hosp…: Brokerage recommendations span diverse sectors including chemicals, consumer retail, hospitality, technology, and manufacturing.
Zydus Lifesciences, Adani Ports and SEZ, and Saregama India share an identical projected…: Zydus Lifesciences, Adani Ports and SEZ, and Saregama India share an identical projected upside potential of 19%.
Sources checked by our analysis pipeline: 1
Markets are currently navigating a phase of heightened volatility, with the Nifty and broader market indices witnessing a meaningful correction from their recent highs. The weakness is less a reflection of any fundamental deterioration in the domestic earnings cycle and more a consequence of a confluence of external pressures. Here are 10 stocks ICICI Direct is betting on this festive season.
Getty Images
2/11
Venus Pipes and Tubes
Venus Pipes and Tubes has a buying range of Rs 1,660-1,800, against a current market price (CMP) of Rs 1,750. The stock has a target price of Rs 2,340, indicating a potential upside of 34%.
ANI
3/11
Kotak Mahindra Bank
Kotak Mahindra Bank has a recommended buying range of Rs 445-465, compared with its CMP of Rs 460. The target price is Rs 540, implying a potential upside of 17%.
Agencies
4/11
Zydus Lifesciences
Zydus Lifesciences has a buying range of Rs 1,200-1,265, with the stock currently trading at Rs 1,240. Its target price of Rs 1,480 indicates a potential upside of 19%.
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