Budget 2024 Stocks: In a pre-budget analysis, domestic brokerage house Motilal Oswal expects the government to continue policy continuity to push the overall economic momentum after the NDA returns to power. According to the brokerage, the government will continue to focus on infrastructure, capital expenditure and manufacturing. In such a situation, 5 have been selected from the large-cap segment for the upcoming budget. Let’s take a look…
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Budget 2024 Stocks: ICICI Bank
1. ICICI Bank: According to the news of Moneycontrol, Motilal Oswal has set a target price of ₹ 1,350 for ICICI Bank, which shows an increase of 8.5%. It is currently trading at around Rs 1260. The brokerage firm estimates that margins will remain limited shortly, but operating profit is emerging as a lever to support income growth.
| Stock | Target Price | Current Price | Percentage Increase | Brokerage Firm |
|---|---|---|---|---|
| ICICI Bank | ₹ 1,350 | ₹ 1,260 | 8.5% | Motilal Oswal |
HCL Tech: Budget 2024 Stocks
2. HCL Tech: The brokerage has recommended buying HCL Tech keeping in mind the target price of Rs 1,710. Motilal Oswal MOSL said that its strong capabilities in the ER&D space, continued investments to grow digital engineering revenues along strong outsourcing opportunities should deliver sustainable and predictable growth in the future.
Coal India: Budget 2024 Stocks
3. Coal India: The brokerage has a target price of ₹550 for Coal India. It is trading at around ₹512 today. Coal India remains Motilal Oswal’s top pick in the metals and mining sector. The outlook for it remains positive with a strong volume outlook, e-auction premium and low costs.
| Stock | Target Price | Current Price | Brokerage Firm | Position | Outlook |
|---|---|---|---|---|---|
| Coal India | ₹ 550 | ₹ 512 | Motilal Oswal | Top pick in the metals and mining sector | Positive outlook with strong volume, e-auction premium, and low costs |
State Bank of India: Budget Stocks 2024
4. SBI: The brokerage has a target price of ₹1,015, which implies an upside of 19.5%. It is trading around 880 today. The brokerage said that a strong liability profile, an excellent CD ratio and strong technical capabilities position SBI well to take advantage of growth opportunities.
| Stock | Target Price | Current Price | Percentage Increase | Brokerage Firm | Outlook |
|---|---|---|---|---|---|
| SBI | ₹ 1,015 | ₹ 880 | 19.5% | Not specified | A Strong liability profile, excellent CD ratio, and strong technical capabilities position SBI well for growth opportunities. |
Budget Stocks 2024: Mankind Pharma
5. Mankind Pharma: The brokerage firm has a target of ₹2,650, implying an upside of over 23%. Motilal Oswal expects a 16% earnings CAGR over FY24-27, given its strong brand outlook, sustainable earnings growth and superior return ratios.
| Brokerage Firm | Company | Target Price | Upside | Earnings CAGR (FY24-27) | Comments |
|---|---|---|---|---|---|
| Motilal Oswal | Mankind Pharma | ₹2,650 | Over 23% | 16% | Strong brand outlook, sustainable earnings growth, and superior return ratios. |
Two Bonus Shares
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Chola Inves
a. Chola Inves: The brokerage has a target of ₹1,660, which implies an upside of about 17%. Chola currently collaborates with eight fintech partners who have good scale on their respective platforms, MOSL said.
| Brokerage | Company | Target Price | Upside | Current Collaborations | Comments |
|---|---|---|---|---|---|
| MOSL | Chola Invest | ₹1,660 | About 17% | Collaborates with eight fintech partners | Good scale on their respective platforms. |
Mahindra & Mahindra
b. Mahindra & Mahindra: The brokerage has a target of ₹3,300, implying an upside of around 21%. The brokerage said continued prudent capital allocation with a clear focus on returns will lead to stock re-rating.
| Stock | Target Price | Percentage Increase | Brokerage Firm |
|---|---|---|---|
| Mahindra & Mahindra | ₹ 3,300 | 21% | Not specified |
Overview Data for Share Before Budget 2024
| SL | Stock | Target Price | Current Price | Percentage Increase | Brokerage Firm |
|---|---|---|---|---|---|
| 1. | ICICI Bank | ₹ 1,350 | ₹ 1,260 | 8.5% | Motilal Oswal |
| 2. | Coal India | ₹ 550 | ₹ 512 | Not specified | Motilal Oswal |
| 3. | SBI | ₹ 1,015 | ₹ 880 | 19.5% | Not specified |
| 4. | Mahindra & Mahindra | ₹ 3,300 | Not specified | 21% | Not specified |
| 5 | Mankind Pharma | ₹2,650 |
(Disclaimer: Experts’ recommendations, suggestions, views and opinions are their own and not of AsiaGlobalBank.com. Here only stock performance information is given, it is not investment advice. Investing in the stock market is subject to risks and consult your advisor before investing.)
