Stock Picks: Religare bets on these 4 midcap stocks, sees 16-21% upside in one year, do you own?
Domestic brokerage firm Religare Broking has selected four midcap stocks from the information technology (IT), cement, and fast-moving consumer goods (FMCG) sectors, which it believes, have the potential to perform and earn a return in the range of 16-21 per cent in the next 9-12 months.
The four stock picks by the brokerage in the midcap segment are Mphasis, Jyothi Labs, CCP Products, and Nuvoco Vistas Corporation.
1.Mphasis:
At a current market price (CMP) of ₹2,442, Religare has initiated a ‘buy’ rating on the stock and sees a potential upside of 21.2 per cent in the next 9-12 months. The IT solutions provider commands a market capitalisation of ₹46,034 crore
Despite the macro challenges the IT sector is facing for the near term, we believe Mphasis strategy of investing in right growth areas such as new generation technology, partnering with companies for technology and adhering to customer centric approach will aid growth for the company,” said Religare Broking.
‘’Also, management’s optimistic view on margin range because of improving utilizations and gaining large deals would support growth. We have estimated its revenue/EBIT to grow at a 15 per cent & 19 per cent compound annual growth rate (CAGR) over FY23-25,” added the brokerage.
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Updated: 28 Sep 2023, 07:34 PM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.