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Religare Broking lists five Diwali investment picks with 23% upside potential

EditorAmbhini Aishwarya
Published 2023-11-09, 02:56 a/m
© Reuters.

Religare Broking has recommended five stocks for Diwali investment, each offering an upside potential of approximately 23% over the next year, as reported today. The list includes Tata Consultancy Services (NS:TCS), ITC, Axis Bank, Maruti Suzuki, and SBI Life Insurance.

TCS, a company that focuses on technology development and has seen record order inflows, has been given a target price of ₹4,089 (USD1 = INR83.279), indicating a 21% upside. The firm's strong performance in technology development has positioned it as a promising investment option.

ITC's "Next" strategy and its efforts to scale its non-cigarette business have led to a target price of ₹535, suggesting a 23% upside. The company's strategic shift towards non-cigarette segments appears to be paying off, making it an attractive prospect for investors.

Axis Bank's growth in wealth management, premiumization of deposits, and strong position in the credit card market have resulted in a target price of ₹1,167 and a projected 14% upside. These factors have contributed to the bank's robust financial performance and potential for future growth.

Maruti Suzuki's superior product mix, favorable commodity prices, and swift order turnaround have led to a target price of ₹12,714 with a 23% upside. The car manufacturer's diverse product portfolio and efficient operations continue to drive its market appeal.

Lastly, SBI Life Insurance's increasing market share and the resurgence of Unit Linked Insurance Plan (ULIP) products have resulted in a target price of ₹1,644 with a projected 22% upside. The company's growing influence in the insurance market and successful ULIP products make it another strong contender for investment this Diwali.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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