These stocks are expected to return between 11% and 26%

Brokerage:

Price Target: Rs 290

CMP: Rs 231.4 | Upside: 25.3%

The brokerage has raised its price target on the stock to Rs 290 from Rs 275, while maintaining a buy rating, citing strong coal demand in 2022 and 2023. Coal India, which has a dividend yield of 7.2%, is its top stock pick in the metals and mining sector. “We believe with the continued heat wave in China, the hydro electricity production should reduce further, therefore, increasing on thermal coal,” said Motilal Oswal Securities. “We further believe Europe will continue to re-open as well as increase life of its remaining thermal power plants in a bid to shift away from Russian gas, and in the process will fuel demand for thermal coal.”

Brokerage:

Securities

Price Target: Rs 562

CMP: Rs 479.4 | Upside: 17.2%

HDFC Securities has set a bull case fair value of Rs 562 and a base case fair value of Rs 508 on the stock. It said investors must buy the stock in Rs 455-461 band and add more on declines to Rs 402. The brokerage said the stock’s valuations are cheaper than its multinational peers and that the Group company has a strong financial profile.

Brokerage: Anand Rathi

Price Target: Rs 675

CMP: Rs 540 | Upside: 25%

Anand Rathi has recommended traders to take bullish bets on Aurobindo for three months with a stop loss of Rs 472. The brokerage said the stock has made a ‘bullish crab harmonic’ pattern, which is looking ‘lucrative’. “The stock has been under pressure for quite some time but at this juncture it’s trading near its crucial support,” said Anand Rathi. “Previously, the stock turned from this level and we saw a rally to Rs 820 (approximately).”

Brokerage: Investec India

Price Target: Rs 1,100

CMP: Rs 955 | Upside: 15.2%

Investec has raised its price target on Home First to Rs 1,100 from Rs 950, while reiterating its buy rating, citing loan growth expectations. The company’s Price to Book (P/B) is trading at a discount to its peers in the affordable housing finance business on account of its lower Return on Equity (RoE) profile, the brokerage said. “We expect HFFC’s RoE to improve to 15- 16% by FY25E, driven by an increase in financial and operating leverage,” said Investec. “Also, we expect its loan growth to be in the first quartile in the sector on account of its small size, planned distribution expansion and superior tech stack.”

Brokerage: Morgan Stanley

Price Target: Rs 9,839

CMP: Rs 8,835 | Upside: 11.4%

Morgan Stanley has rated Maruti an overweight after launching two projects: Suzuki Motor Gujarat EV battery manufacturing facility for advanced chemistry cell batteries, and the first phase of Maruti’s vehicle manufacturing facility in Haryana. “MSIL won’t be the first OEM to launch EVs in India but it will have the highest localisation as it will source cells from Suzuki Gujarat,” said the brokerage. “Thus, in the long run, the project economics should work better.”