Brokerage firm Jefferies has shared its list of 11 stocks that are expected to gain significantly over the next five years.
The listed stocks include those in real estate, banking, health care, automobiles and food delivery.
Here are the 11 stocks listed in Jefferies hot picks:
Macrotech Developers
Jefferies believes that Macrotech will benefit from the strong housing capex cycle and its real estate holdings in Mumbai suburbs.
- Target price: Rs 3,000
- Upside potential: 3x
Amber Enterprises
Jefferies said Amber Enterprises in the key beneficiary of India's manufacturing growth story.
- Target price: Rs 9,740
- Upside potential: 2.9x
Axis Bank
Axis Bank is one of the two banks that found their spot in the list as the large cap bank enhances its deposit franchises as well as digital and lending platforms and expands its subsidiaries.
- Target price: Rs 2,810
- Upside potential: 2.7x
Max Healthcare
Max Healthcare is seen as a lucrative investment with sustained growth in the hospital business.
- Target price: Rs 1,925
- Upside potential: 2.7x
SBI
The country's largest public lender with its stong deposit base, digital offerings and leadership in lending segments is expected has an optimistic outlook, according to Jefferies.
- Target price: Rs 1,860
- Upside potential: 2.5x
Zomato
Zomato is a "compelling food delivery" investment, according to Jefferies, considering factors like strong free cash flows and capital allocation.
- Target price: Rs 400
- Upside potential: 2.5x
TVS Motor
TVS Motor stands to gain from the renewed demand for two-wheelers in the country.
- Target price: Rs 5,000
- Upside potential: 2.4x
JSW Energy
Three potential triggers pointed out by Jefferies for JSW Energy over the next two years include more visibility in renewable energy capacity, commissioning of a 700 MW merchant capacity during peak power demand and progress on green hydrogen plants.
- Target price: Rs 1,100
- Upside potential: 2.2x
Bharti Airtel
Consistent market share gains and higher Average Revenue Per User are positive factors that prompted Jefferies to pick the telecom giant for the list.
- Target price: Rs 2,530
- Upside potential: 2.1x
Larsen & Toubro
The firm sees Larsen & Toubro as a key beneficiary of the country's capital expenditure upswing.
- Target price: Rs 7,564
- Upside potential: 2.1x
Ambuja Cements
The largest cement producer in the country has enhanced its capacity, reduced costs and increased investments in green power, contributing to the company's strong operational performance.
- Target price: Rs 1,250
- Upside potential: 2.1x
