Active Stocks
Tue Apr 23 2024 13:27:14
  1. Tata Steel share price
  2. 162.20 0.22%
  1. Bharti Airtel share price
  2. 1,338.50 3.08%
  1. ICICI Bank share price
  2. 1,088.65 0.15%
  1. NTPC share price
  2. 346.10 0.89%
  1. HDFC Bank share price
  2. 1,506.00 -0.42%
Business News/ Markets / Stock Markets/  Top 3 stocks to buy over next 2-3 quarters: Here are HDFC Securities' picks
BackBack

Top 3 stocks to buy over next 2-3 quarters: Here are HDFC Securities' picks

ACC, Federal-Mogul Goetze (India) and Dr Reddy’s are the three top stock picks by HDFC Securities

Stocks to buy (AFP)Premium
Stocks to buy (AFP)

ACC Ltd from the cement space, Federal-Mogul Goetze (India) Ltd from the auto ancillaries sector and Dr Reddy’s Laboratories from the pharma industry are the three top stock picks that domestic brokerage and research firm HDFC Securities has suggested that investors can look to buy with the time horizon of two to three quarters.

HDFC Securities' top stock picks -

ACC: ACC has a big scope for improvement in productivity and efficiency parameters as it currently lags a lot of its peers. The new owners could take steps to grab this low hanging fruits soon, the note stated. 

“We believe investors can buy the stock in 2391-2440 band and add on dips to 2163-2207 band for a base case fair value of 2634 and bull case fair value of 2813 in 2-3 quarters."

Federal-Mogul Goetze: FMGIL is the 2nd largest player in the organized market of pistons and piston rings in India with more than 30% market share. 

“It has comfortable financial profile and has a slew of new launches lined up. We expect FMGIL to record growth in revenues and PAT 19/35% CAGR over FY22-FY24. We think investors can buy the stock in the band of 316-322 and add on dips to 271-277 band for a base case fair value of 354 and bull case fair value of 380 over the next 2-3 quarters," HDFC Securities recommended. 

Dr Reddy's: DRL is one of the few Indian players with a meaningful presence in China and a growing portfolio of filings that can transform into a structural growth driver for the company, it said. 

“We expect the company to register revenue, EBITDA, and Adj. PAT CAGR of 9%, 22% and 15% respectively over FY22-24E. We feel investors can buy the stock in the band of 4318-4365 and add more on declines to 3893 for base case target of 4756 and bull case target of 5080 over the next two quarters," as per the brokerage.

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

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 05 Oct 2022, 03:39 PM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App