IndiGo among 4 stocks with upside potential of up to 34%

Rating: Buy | Target price: Rs 5,115 | Upside potential: 21%IndiGo holds 60% of the $13.89 billion Indian aviation market and is expanding internationally through codeshare agreements, with a 45% increase in passengers flown via these agreements in FY24.

Rating: Buy | Target price: Rs 850 | Upside potential: 22.7%

Prince Pipes and Fittings is a prominent player in India's plumbing industry. With a presence across pipes, water tanks and bathware, the overall addressable market for the company would be over Rs 60,000 crore, giving it a significant room for growth.

Rating: Buy | Target price: Rs 1,917 | Upside potential: 9.8%MGL, with ample cash reserves, incurred a capex of Rs 775 crore in FY24 and plans to invest Rs 1,000 crore in FY25, with Rs 800 crore from MGL and Rs 200 crore from its subsidiary UEPL. The company expects a 6-7% volume growth in FY25, while UEPL's volumes are projected to grow by over 10%.

Rating: Buy | Target price: Rs 600 | Upside potential: 34.4%

The rising disposable incomes and increasing trend of home ownership and renovation projects in India are expected to boost demand for Hindware's products. As more consumers invest in upgrading their homes, the demand for premium and durable products will increase.

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