5 LARGE CAP STOCK PICKS OF MOTILAL OSWAL FOR OCTOBER
Published By Veerang Vats | 17 Oct, 2024
Motilal Oswal believes correction in Indian stock market offers an opportunity to accumulate high-quality stocks for long term. Amid this backdrop, brokerage has shared its top large-cap picks for October.
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Here's a list of 5 large cap stock picks of Motilal Oswal for October
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ICICI Bank
MOSL projects a target price of ₹1,400, reflecting a 14% upside, driven by 15% year-on-year growth in net earnings. The bank's diversified portfolio ensures robust future growth.
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Bharti Airtel
MOSL has target price of ₹2,000 on the telco, indicating an 18% upside, supported by deleveraging efforts and healthy free cash flow. Key growth drivers include subscriber gains and 5G adoption.
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HCL Tech
MOSL has a target price of ₹1,777 on HCL Tech, suggesting downside of 4%. Brokerage highlighted IT company's strong financials and growth prospects.
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Tata Power
MOSL has a target price of ₹441 on Tata Power, suggeting a 5% downside. Tata Power's growth is underpinned by a ₹60,000 crore capex plan for renewable energy. Management aims to double profitability by FY27.
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HDFC Life Insurance
MOSL's target price on HDF Life is ₹706, suggesting a 5% downside. But strong growth in total premium equivalent signals long-term potential. An 18% CAGR is expected in the value of new business by FY26.