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With the time frame of around three months, domestic brokerage and research firm ICICI Securities has 'Buy' recommendations and sees potential upside on these four stocks - financial services company Housing Development Finance Corporation (HDFC), Phoenix Mills, Bajaj Finance and automaker Ashok Leyland.

Here are ICICI Securities' top stock picks:

HDFC: The Nifty Financial service index recently registered a breakout above five month’s range and is currently placed at the all-time high highlighting a structural up trend. Within housing finance space (proxy to real estate sector), the brokerage likes HDFC, which is expected to catch up and outperform, going forward.

ICICI Securities' Buy stance comes with a 3,125 apiece target price and stop loss of 2,628. 

Phoenix Mills: “The realty sector is outperforming broader markets after a decade long consolidation breakout. One of the preferred picks within the realty space is Phoenix Mills which we expect to catch up as a key beneficiary of economy coming back to normalcy. Stock offers favourable risk-reward setup for fresh entry," the note stated. It has a target price of 1,085 on the stock and 850 stop loss.

Bajaj Finance: The ‘Buy’ rating on the financial services company comes with a target price of 8,630 per share and stop loss of 7,150 with a time horizon of three months. 

Bajaj Finance is a dominant player in the consumer finance space while it also has made a foray into various other lending segments like housing, SME lending, etc.

Ashok Leyland: ICICI Securities recommendation to Buy the auto stock comes with a target price of 146 per share and stop loss of 114. Ashok Leyland (ALL) is a pure play CV manufacturer with a presence in M&HCV buses and trucks and LCV goods as well.

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

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