Top investment ideas! ICICI Bank, Zomato among 8 largecap stocks that can rally up to 20%

Motilal has set a target price of Rs 1,150 on ICICI Bank, which shows an upside potential of 16% from the current market prices.

"ICICI Bank is well positioned to deliver steady earnings, supported by pristine asset quality and strong momentum in business growth. We estimate RoA/RoE of 2.2%/17.9% in FY25. We estimate earnings growth of 17% CAGR over FY23-25," it said.

Motilal has set a target price of Rs 535 on ITC, which indicates an upside of nearly 20% from the current market prices.

"We are positive on ITC as a result of better earnings visibility over peers in the next few quarters, inexpensive valuations, and attractive dividend yield. ITC’s earnings outlook is better compared to other large-cap staples players in FY24 and FY25," Motilal said.

Brokerage firm Motilal has set a target price of Rs 8,800 on Bajaj Finance, which implies an upside of 17% from the current market prices.

"BAF has made significant progress in optimizing its processes and has made significant structural changes to its technology stack. We estimate an AUM/PAT CAGR of ~29%/26% over FY23-FY25 and expect BAF to deliver a RoA/RoE of 4.6%/25% in FY25," Motilal said.

Brokerage firm Motilal has set a target price of Rs 3,570 on Titan, implying an upside potential of 10% from the current market prices.

"Titan has a strong runway for growth in the consumption space in India, with robust earnings growth visibility and compounding for the long term. Given its sub-10% market share in jewellery and the struggles of unorganized and other organized peers, we see a promising growth outlook for Titan," the brokerage said.

Motilal has set a target price of Rs 1,310 on Sun Pharma, which indicates an upside of 14% from the current market prices.

"We remain positive on Sun Pharma backed by its robust innovative products franchise targeted for global markets and superior execution in branded generics markets," it said.

Motilal has set a target price of Rs 4,420 on Avenue Supermart, which indicates an upside of 16% from the current market prices.

"Robust store additions (72% footprint additions over FY20-23), healthy cost efficiencies and recovery in discretionary demand could drive growth. We factor in a revenue/PAT CAGR of 26%/27% over FY23-25 aided by 16%/9% growth in footprints/revenue productivity," it said.

Motilal has set a target price of Rs 1,725 on Mahindra & Mahindra, which signals an upside potential of 8% from the current market prices.

"MM has seen a substantial re-rating in FY23 as the stock is now trading in line with its five-year average core P/E. The narrowing of the discount to LPA is a reflection of a strong performance in the SUV segment, market share gains in tractors, and a new EV launch pipeline," it said.

Brokerage firm Motilal has set a target price of Rs 110 on Zomato, implying an upside potential of 7% from the current market prices.

"Given its dominant market share, we expect Zomato to report 25%/107% revenue CAGR in food delivery/quick commerce verticals over FY23-25, helping it grow its consol adj revenue by 43% over the same period. We now estimate Zomato to turn positive on reported EBITDA by 4QFY24 and deliver 5 EBITDA margin in FY25," the brokerage said.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)