Holi 2023 special stocks to buy: Tata Motors, Sterling and Wilson, Samvardhana Motherson and more

Domestic stockindices are likely to touch new highs in the next 12 months, says market veteran Sanjiv Bhasin. In an interaction with Business Today TV, the director of IIFL Securities expects Sensex to hit 70,000 level and Nifty index to touch the 21,000-mark by next Holi.

Since last Holi, the 30-share index has gained 4 per cent. During this period, it scaled an all-time high of 63,583.07 on December 1, 2022. On the other hand, the 50-share Nifty index gained 2.45 per cent since Holi 2022. The index scaled its lifetime high of 18,887.60 on December 1, 2022.

Bhasin’s top 5 Holi picks are from sectors including auto, banking and renewable energy space. Samvardhana Motherson International is his first pick. Bhasin believes that shares of the company may touch Rs 125 in the next six months. The stock settled at Rs 83.23 on March 6.

Sharing his views on Samvardhana Motherson International, Bhasin said the company is one of the largest original equipment makers (OEMs) in the country.

“It is in a sweet spot due to its investments in other accessories and some of them in inorganic growth. It is also getting into Boeing Aircraft interiors. The company is set to rule the roost due to its pedigree management and performance.”

IDFC First Bank is Bhasin’s second pick. The market expert believes that shares of this lender may hit Rs 85 in the next one year and Rs 150 over the next thee years. The scrip closed at Rs 57.14 on March 6, up 1.56 per cent.

“I have a lot of faith in the bank’s MD and CEO V Vaidyanathan. He has converted a lending institution into a very powerful midcap bank. The bank’s net interest margin (NIM) is the highest in the industry. On the other hand, its slippages have been the lowest in the last 16 quarters. The bank too is very optimistic about growth.”

With a target price of Rs 700, Sterling and Wilson Renewable Energy is another stock on Bhasin’s list. The IIFL analyst believes that the stock may double investor money soon. The scrip closed at Rs 301.20 on March 6.

“Clean energy, hydrogen and green energy will be the key and it is not here for the next six, nine or the next three years. It is for the next 30 years. Reliance New Energy bought a 40 per cent stake in the company at Rs 375 in December. It is the largest player as far as making solar panels. The company is also the largest player in MEP (maintenance electrical and plumbing) space,” he said.

Bhasin noted that there was a lot of debt overhang because of exposure to places like Argentina but Reliance has cleaned the balance sheet.

“In the recent India Investment Summit in UP, Reliance committed to almost 20 GW in UP and the whole conduit will be solar panels. Today, SW Solar makes cheaper solar panels even much cheaper than Russia,” he said.

The market watcher also suggested Tata Motors (target price: Rs 575) and Bosch (target price: Rs 22,000 this year and Rs 25,000 next year) among his other top Holi picks. Shares of Tata Motors and Bosch closed at Rs 439.95 and Rs 18,089.30, respectively, on March 6.

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