Stocks to buy in June: Maruti Suzuki, SBI, Tech Mahindra, Automotive axles and UltraTech Cement could give up to 52% return in 1 year
Stock market has been trading volatile for the past few months on back of several domestic and global triggers. On Monday, when the Reserve Bank of India began its three-day MPC meeting, benchmark indices Nifty50 and Sensex were trading with minor cuts of 0.36% to 16, 524 and 55,560 around 12.15 pm.
However, this uncertainty in the market also provides good bargain in fundamentally strong stocks. Below is the list of stocks, identified by brokerage firms Yes Securities and ICICI Securities, that could give up to 50% upside in one year.
UltraTech Cement
This cement stock traded on fresh 52-week low of Rs 5583 per share on the BSE. At its 52-week low value, brokerage firm ICICI Securities sees an upside of over 52% for target price of Rs 8500. The brokerage bullishness was due to capacity expansion plan of the cement company. Source: Reuters
State Bank of India (SBI)
At CMP (record price) of Rs 468, Yes Securities maintained a buy rating for target of Rs 655, an upside of 40%. On Monday, the stock touched the day's low value of Rs 456.50 per share till 12.30 pm. Source: PTI
Agarwal Industrial Corporation
Hem Securities initiated a coverage on company catering to petrochemicals segment with a buy recommendation for target price of Rs 705 per share. On record price of Rs 534.50 per share, the upside turns out to be 32%. The counter git the day's low of Rs 526 per share on the BSE. Source: Hem Securities.
Tech Mahindra
Yes Securities recommended a buy on this tech stock for target price of Rs 1380 per share. It an upside of 17% at record price of Rs 1180. The counter dropped one and half per cent to Rs 1111.50 per share on Monday. Source: PTI
Maruti Suzuki
Brokerage firm ICICI Securities maintained a 'buy' on Maruti Suzuki with target price of Rs 9957. It is an upside of 25% on record price of Rs 7966 and 30% on the day's low of Rs 753. Source: PTI