Bullish brokerage on 10 blue chip stocks including HDFC Bank, TCS: Estimated returns from 11% to 49%, know the complete list

Business Desk – At present, investor sentiment remains weak in the stock market due to US-Iran tension, continuous selling by foreign institutional investors (FIIs), uncertainty in the Middle East and concerns about inflation. In such an environment, brokerage firm InCred Equities has advised investing in 10 selected large cap blue chip stocks.

According to the brokerage, these shares may see a potential rise of 11% to 49% from the current level. This list includes big companies from banking, IT, auto, FMCG, cement and metal sectors.

Brokerage advice amid market decline

InCred Equities says that when there is an environment of fear and uncertainty in the market, then shares of strong companies are available at attractive valuations. In such a situation, companies whose business is strong and fundamentals are better can give good returns in the long run. On this basis, the brokerage has released a list of 10 blue chip stocks.

Highest return expected in TCS is up to 49%

The brokerage has given a target price of Rs 3,052 for IT sector giant Tata Consultancy Services (TCS). Compared to the current price of Rs 2,050, a possible rise of up to 48.9% has been estimated.

Estimated rise of up to 42% in HDFC Bank

The brokerage has set a target price of Rs 1,160 for HDFC Bank. Compared to the current share price of Rs 818, it is expected to rise by about 42%. According to the report, the bank’s strong growth and better business outlook are the main reasons for this.

Upto 30% upside in Hindustan Unilever

A target price of Rs 2,790 has been given for FMCG sector giant Hindustan Unilever (HUL). Compared to the current price of Rs 2,145, a possible rise of up to 30% has been said.

Expected returns up to 25% in Bajaj Finance

The brokerage has set a target price of Rs 1,250 for Bajaj Finance. Compared to the current price of Rs 1,004, a possible increase of up to 25% is expected.

Possibility of growth of up to 23% in UltraTech Cement

A target price of Rs 14,215 has been given for UltraTech Cement, a leading company in the cement sector. Compared to the current price of Rs 11,524, it may rise by about 23%.

Upto 22% upside in Axis Bank

InCred Equities has set a target of Rs 1,580 for Axis Bank. Compared to the current price of Rs 1,298, a possible rise of up to 22% has been estimated.

Estimated rise of up to 19% in Tata Steel

A target price of Rs 224 has been fixed for metal sector company Tata Steel. Compared to the current price of Rs 188, a potential increase of up to 19% has been seen.

Expected return up to 18% in Tata Motors

The brokerage has given a target price of Rs 496 for Tata Motors Passenger Vehicles. It is expected to rise by about 18% as compared to the current price of Rs 420.

Up to 17% gain possible in Eicher Motors

A target price of Rs 8,634 has been fixed for Eicher Motors. Compared to the current share price of Rs 7,361, a possible increase of up to 17% has been said.

Maruti Suzuki up by 11%

The brokerage has given a target price of Rs 15,280 for auto sector giant Maruti Suzuki. Compared to the current price of Rs 13,728, a possible increase of up to 11% has been estimated.

What is your advice for investors?

The brokerage believes that despite the current market fluctuations and global uncertainties, investments can be made in large companies with strong fundamentals from a long-term perspective. However, before investing in any share, please consider your risk appetite and the advice of a financial advisor.