Stocks to buy: Axis picks 7 largecap stocks with upside potential of up to 44%. See full list
Axis has picked 7 largecap stocks that have robust value after the sharp correction.
Indian stock market has experienced losses for eight consecutive weeks, surpassing losses from the 2020 Covid-19 crash and the 2008 global financial crisis. Axis Capital has identified seven largecap stocks with potential upside of up to 44%, indicating the market's resilience and potential recovery.
The broker has set price targets for these stocks, with an average upside potential of 36%. Among the top picks is a large NBFC (Non-Banking Financial Company) providing consumer finance products, including loans for two-wheelers, consumer durables, housing, and small businesses. The brokerage's price target for this stock implies a 44% upside from the current level.
Another recommended stock is a multinational telecommunications company operating in 18 countries across South Asia, Africa, and the Channel Islands, as India's second-largest telecom operator. The broker's target price for this company implies a 36% upside from the current level.
A third stock highlighted by Axis is a lender supported by a strong liability franchise and a healthy mix of retail and corporate clients. The brokerage's price target for this bank implies a 36% upside.
Other stocks recommended by Axis include a provider of last-mile logistics solutions and a leading player in the global beverage industry, as the world's second-largest franchisee of PepsiCo. These companies have an average target price implying an 23-36% upside from the current levels.
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