Home / Markets / Stock Markets /  These 10 stocks are among top picks by Angel Broking for the month

For the month of August 2021, domestic brokerage and research firm Angel Broking has recommended top stock picks from different sectors including auto, banking and IT companies like Ashok Leyland, Escorts, HDFC Bank, Federal Bank. L&T Infotech. 

Under autos, its top picks are - Ashok Leyland (target price of 158), Escorts (TP 1,573), GNA Axles (TP 815) Suprajit Engg (TP 360). For Ashok Leyland, the brokerage believes that the company is ideally placed to capture the growth revival in CV segment and will be the biggest beneficiary of the Government’s voluntary scrappage policy. Further, it expects the tractor industry will continue to outperform the larger automobile space in FY22 with Escorts being a key beneficiary.

For banking, Federal Bank (target price of 110), HDFC Bank (TP 1859) Shriram City Union (TP 2100), AU Small Finance (TP 1,375). For Federal Bank, the brokerage said that the overall asset quality held up well in Q1FY22 despite the second Covid wave and it expects asset quality to improve from Q2FY22 given continued opening up of the economy. 

Meanwhile, given stable asset quality, it expects AUM Small Finance's loan growth to pick up in Q2FY22 which should lead to a rerating for the bank. It is also positive on HDFC Bank given best in class asset quality and expected rebound in growth from Q2FY22.

In IT, L&T Infotech is its pick for the month with the target price of 5,200 per share. Other recommendations include Carborundum Universal (TP 800), Crompton Greaves Consumer (TP 540), Godrej Property (TP 1800), Jindal Steel (TP 550), Stove Kraft (TP 950), Galaxy Surfact (TP 3594) Dalmia Bharat (TP 2650), Safari Ind (TP 890).

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



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