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Home >Markets >Stock Markets >Top stocks picks for Diwali 2020 by Angel Broking

India still is not out of woods as far as the Covid pandemic is concerned or its impact on macro or micro is concerned– though latest macro and micro data are encouraging. BSE Sensex, the benchmark index has returned, in fact broke the earlier records to tough new highs. After scaling an intra-day high of 43,708 on Wednesday, the benchmark BSE Sensex closed at a record high of 43,594. Analysts however do not see an even recovery. "Market rally has become broader due to positive news on vaccine and expectations of continued recovery. However, we see the recovery to be uneven with different sectors charting out different recovery path," says Angel Broking.

Within cyclicals, the brokerage is positive on cement and low ticket consumer durable. The brokerage also likes multiplex sector which is expected to benefit from reopening of theatres across India including key areas like the NCR and MMR regions.

Here are the top picks for Diwali 2020 from Angel Broking:

Auto

> Endurance Technologies

CMP: 1,052 , Target Price: 1,297, upside of 23%

> Swaraj Engines

CMP: 1,382 , Target Price: 1,891, upside of 37%

Banking/NBFC

> Cholamandalam Inv

CMP: 307, Target Price: 362, upside of 18%

> IDFC First Bank

CMP: 31, Target Price: 36, upside of 16%

Chemicals

> Atul Ltd

CMP: 6,100, Target Price: 7,339, upside of 20%

> Galaxy Surfactants

CMP: 1,785, Target Price: 2,075, upside of 16%

IT

> Persistent Systems

CMP: 1,147, Target Price: 1,531, upside of 33%

Pharma & Healthcare

> Metropolis Healthcare

CMP: 1,968, Target Price: 2,360, upside of 20%

Others

> Hawkins cooker

CMP: Rs: 5,124, Target Price: 5,992, upside of 17%

> Inox Leisure

CMP: Rs:276, Target Price: 350, upside of 27%

> JK Laxmi cement

CMP: Rs: 292, Target Price: 355, upside of 22%

> VIP Industries

CMP: Rs: 286, Target Price: 375, upside of 31%




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