Apr 21 2024, 11:07
5 stocks from different sectors with upside potential of up to 31%:
Last Thursday, when everything appeared fine, there was a sudden decline in the Nifty, a drop of more than 200 points in less than 5 mins. There was never and never will be, dearth of explanation of every move of the markets. So, the blame this time was put on basket selling and possible attack by Israel on Iran. Explanations aside, volatility is part of the market and will remain. The only two things one should do, look at how the market breadth has panned out during the volatile phase. Second, stocks, which may be volatile in the short term but the companies are good when it comes to fundamentals. During this volatile phase, it was large cap and more particularly index stocks which led the down move. The fact is that the first phase of volatility is always led by large caps as they have high institutional holdings. But over the long term, they tend to outperform and the drawdown is lower as compared to mid and small caps. So, at times large caps might optically appear to be hammered and that may be an opportunity to look at some stocks with a long term perspective.
Somehow word volatility got associated with bearish trend, while it might appear strange to some, the fact is that even volatility has a bias and that can be toward bulls also. In the last few sessions that bias has changed toward bulls. The way the nifty and sensex were able to recover after the global developments, recovering sharply from their lows when they have opened down lower. More importantly, market breadth during this volatile phase has been largely positive. But don't lower guard in terms of stocks selection, stay with the one where the sectoral macros are positive and individual companies have a track record both in terms of financial and management ability. The reason, volatility is an integral part of markets, it is bound to come, sometimes due to global events, sometimes due to high valuations getting reset. We look at companies, where there has been an improvement in overall analyst scores.
This improvement cou be because of any reason, but the fact that they have seen an improvement in their score is an indication that some headwinds have come down for these companies or some tailwinds have emerged. Another side is that when the markets are bullish and a company witnesses an improvement in its score.
Large Cap Stocks with Score Improvement Month on Month
Upside Potential - Apr 20, 2024
Latest Avg Score
Company Name
Avg Score 1M ago
Reco
Analyst Count
* Upside Potential %
1Y Returns %
Inst Stake %
Market Cap Rs Cr
Tata Technologies
6
4
Hold
6
31.7
4.2
42,236
Godrej Industries
7
Strong Buy
6
1
21.7
10.7
87.7
27,858
Tube Investments of India
7
6
Hold
5
21.6
30.6
28.4
67,582
Avenue Supermarts
8
6
Hold
26
17.3
12.3
35.1
305,968
Hatsun Agro Product
5
4
Hold
1
15.2
11.6
16.0
22,248
source:et
Apr 21 2024, 11:10
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