Ebbing tide reveals stocks with potential upside of up to 60%
Agencies
Among large caps, HDFC Bank, after having fallen by 16% this month, could gain by 34% in a year.
Synopsis
These companies are tracked by at least 10 analysts. Ujjivan Bank, Bandhan Bank, PSP Projects, Vedant Fashions, PNB Housing Finance, Prince Pipes & Fittings, Transport Corp, Greenpanel Industries, Galaxy Surfactants, and Somany Ceramics, could return at least 25%, according to average price targets on Bloomberg.
The sell-off in mid-cap and small-cap stocks in recent weeks has soured sentiment in this space but some of these shares may still be holding some promise. At least 60 stocks have the potential to rise between 25% and 60% based on analysts’ consensus estimates available on Bloomberg.
The majority of stocks have dropped from the beginning of the month, with the Nifty Midcap and Smallcap indices plunging by 6% and 9%, respectively, compared to a 2.2% fall in the Nifty 50 index.
Ujjivan Bank, which has declined by 23% so far this month, could potentially rally by 50% within a year, according to 14 analysts tracking the stock. Similarly, Bandhan Bank, tracked by 28 analysts, could see an upswing of up to 45%. The stock has witnessed a decline of 26% since March. Among large caps, HDFC Bank, after having fallen by 16% this month, could gain by 34% in a year.
