Indian equity markets opened in the red on August 8, as the Nifty slipped below the 24,500 mark. The broader sentiment remained weak, with nearly twice as many declining stocks as advancers. Amid this consolidation, several brokerages issued fresh ‘Buy’ calls on select stocks, projecting robust upside potential from current levels.
Here are four stocks backed by top brokerages that are expected to deliver substantial gains of upto 103 percent
Mahindra Lifespace Developers Ltd
Mahindra Lifespace Developers Ltd, established in 1999, is the real estate and infrastructure development arm of the Mahindra Group. It is engaged in the business of developing residential properties, commercial complexes, and industrial clusters. The company also develops integrated cities and SEZs through its subsidiaries and joint ventures.
With a market capitalization of Rs. 7,396 Crores, the shares of Mahindra Lifespace Developers Ltd were trading at Rs. 346.80, down 0.10 percent from its previous day’s close price of Rs. 347. HDFC Securities has given a target price of Rs. 700 on the stock, implying a potential upside of 102 percent from the current market price.
Godrej Properties Ltd
Godrej Properties Ltd is the real estate arm of the Godrej Group, one of India’s most respected conglomerates. The company is known for integrating innovation and sustainability into its developments across residential, commercial, and township projects, with a strong presence in key metros and emerging cities.
With a market capitalization of Rs. 61,235 Crores, the shares of Godrej Properties Developers Ltd were trading at Rs. 2,033, down 0.8 percent from its previous day’s close price of Rs. 2,049.75. Choice Equity Broking Private Ltd has assigned a target price of Rs. 3,504, suggesting a strong upside potential of 72 percent from current levels.
Swiggy Ltd
Founded in 2014, Swiggy is one of India’s leading online food delivery and quick commerce platforms. The company has expanded its footprint to over 580 Indian cities and offers services beyond food delivery through its Instamart platform for groceries and daily essentials.
With a market capitalization of Rs. 98,548 Crores, the shares of Swiggy Ltd were trading at Rs. 395, down 0.8 percent from its previous day’s close price of Rs. 398.35. ICICI Securities has recommended a target of Rs. 740, indicating a potential upside of 86 percent from the current levels.
PDS Ltd
PDS Ltd operates a global fashion infrastructure platform. The company is involved in design-led sourcing, product development, and distribution of readymade garments and consumer products. Its end-to-end capabilities support leading retail and private-label brands across the globe.
With a market capitalization of Rs. 4,578 Crores, the shares of PDS Ltd were trading at Rs. 324, down 1.6 percent from its previous day’s close price of Rs. 329.40. JM Financial has set a target price of Rs. 620, translating into a potential upside of 88 percent from the current price.
Manan Gangwar
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