Top 7 stocks to buy: These are Yes Securities' Diwali 2022 picks
2 min read . Updated: 20 Oct 2022, 03:30 PM IST
Premium- India remains structurally positive even in this gloomy situation, as per Yes Securities
Amid the current chaos, volatility can be expected as an inevitable factor as any bad news in Europe or any fresh escalation in the Russia‐Ukraine hostilities can throw all asset classes out of sync, said brokerage and research firm Yes Securities.
“Having said that, India remains structurally positive even in this gloomy situation, and fast emerging as the fastest growing market in the world. It is pertinent to note that other markets with similar profiles as India, like Indonesia and Philippines, are also witnessing downgrades," the note stated.
Yes Securities' top stock picks for Diwali 2022 -
Shree Cement: Shree Cement has a very robust balance sheet which gives it the headroom to grow its capacity aggressively, said Yes Securities while maintaining Buy rating on the stock with a target price of ₹25,450.
Greenply Industries: The brokerage house strongly believes that Greenply Industries (GIL) has the capability to make the most of the opportunities and carve a niche as a value‐added industry player. With a healthy balance sheet and asset‐light approach to growth in certain product segments, it can expect GIL to deliver measurable value to all its stakeholders. (TP: ₹220)
ICICI Prudential Life Insurance: "Within private insurers, the industry is getting more polarized in favor of large players backed by India’s largest private banks and financial institutions. They are better placed to make the most of the burgeoning sector opportunities, and we strongly believe IPRU enjoys a large runway for growth with all its levers in place." (TP: ₹650)
Prestige Estates Projects: Yes Securities said that it is upbeat about Prestige Estates' continued high performance given the sustained pent‐up demand in the residential space, increased traction in leasing, and recovery in retail & hospitality. (TP: ₹550)
V‐Guard Industries: The brokerage has a positive stance on the stock as it has been able to deliver on revenue growth, focused on increasing proportion of in‐house manufacturing and premiumization in its growing product portfolio. (TP: ₹301)
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SBI: "SBI has protected its asset/liability market share in the past 5 years and with increasing signs of stronger corporate credit demand emerging, we see SBI as one of the best placed banks to ride the upturn." (TP: ₹655)
HCL Technologies: With a strong franchise and unflinching focus on momentum and growth, the brokerage believes HCL Tech will be able to deliver organic growth in capital‐efficient ways and ride the next phase of growth and at the same time, it would be able to harness key disruptions and seize evolving opportunities. (TP: ₹1,210)
The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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