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Business News/ Markets / Stock Markets/  HCL Tech, ACC among Axis Securities' top stock recommendations
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HCL Tech, ACC among Axis Securities' top stock recommendations

Axis Securities has 'Buy' stance on IT firm HCL Technologies, cement-producer ACC Limited and Nippon Life India AMC.

Axis Securities' stock recommendationsPremium
Axis Securities' stock recommendations

Domestic brokerage and research firm Axis Securities top stock recommendations includes names of companies from various sectors including the information technology (IT) and cement space. The brokerage sees a potential upside of up to over 15% in these stocks. Axis has 'Buy' stance on HCL Technologies, ACC Limited and Nippon Life India AMC.

Here are Axis Securities' top three stock recommendations:

HCL Tech: Axis believes that HCL Tech has a resilient business structure from a long-term perspective and has secured multiple long-term contracts with the world’s leading brands. A strong deal pipeline and better service mix will help HCL Tech to attain higher leading growth in FY22 as well as in FY23. It has recommend a Buy call on the stock with target price of of 1,110 per share, an upside of 11% from CMP (current market price).

ACC: In light of the expected revival in the cement demand post-COVID 2.0, ACC’s well-positioning in its key markets, and sharp focus on cost optimization, the brokerage expects the company to register Revenue/EBITDA/APAT CAGR of 8%/10%/11% from CY21-CY23E driven by volume CAGR of 6% and consistent realization improvement of 1% each over CY21E-23E, it said in a note explaining the rationale.

It has a target price of 2,490 per share for ACC, implying an upside of 16% from the CMP.

Nippon Life: ''We expect NAM’s revenue yields could gain ground once the risk-averse environment normalises gradually.. Cost controls will aid earnings. Long-term prospects of the Indian AMC industry remain in place given the low penetration levels vis-à-vis developed countries and is a play on the financialisation of savings in India,'' Axis said in the note.

It has maintained a Buy rating on the stock with a target price of 455, implying an upside of 12%.

The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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Published: 22 Jul 2021, 12:20 PM IST
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