Indian equity markets closed lower on October 24, with the Sensex down 344.52 points (0.41%) at 84,211.88 and the Nifty falling 96.25 points (0.37%) to 25,795.15. Despite today’s weakness, weekly performance remained relatively stable, with the Sensex slightly higher and the Nifty largely flat, reflecting cautious investor sentiment amid mixed market cues.
Here are the 5 stocks with a potential upside of up to 54%;
Acutaas Chemicals
Acutaas Chemicals Limited is one of the leading research and development-driven manufacturers of specialty chemicals. The company manufactures different types of Advanced Pharmaceutical Intermediates and Active Pharmaceutical Ingredients (API) for New Chemical Entities, and materials for agrochemicals and fine chemicals.
With a market capitalization of Rs 13,799 crore, the share closed at Rs 1,685 apiece, decreased around 3.10 percent as compared to the previous closing price. IDBI Capital, one of the well-known brokerages in India, gave a ‘Buy’ recommendation on the chemical stock with a target price of Rs 2,141 apiece, indicating a potential upside of 26 percent from Friday’s closing price of Rs 1,685 per share.
CIE Automotive
CIE Automotive India is a multi-technology company supplying automotive components to Original Equipment Manufacturers (OEMs) and their Tier 1 suppliers across global markets.
With a market capitalization of Rs 16,123 crore, the share closed at Rs 425 apiece, decreased around 1.48 percent as compared to the previous closing price. ICICI Direct, one of the well-known brokerages in India, recommended this auto stock with a target price of Rs 520 apiece, indicating a potential upside of 22 percent from Friday’s closing price of Rs 425 per share.
Sunteck Realty
Sunteck Realty is a fast-growing, Mumbai-based real estate development company that creates properties across various luxury segments, from Uber Luxury to Aspirational Luxury living. The company’s core focus is on creating long-lasting value for its customers and partners, going beyond just constructing buildings to deliver exceptional results.
With a market capitalization of Rs 6,336 crore, the share closed at Rs 436 apiece, increased around 0.73 percent as compared to the previous closing price. Motilal Oswal, one of the well-known brokerages in India, gave a ‘Buy’ recommendation on this realty stock with a target price of Rs 574 apiece, indicating a potential upside of 32 percent from Friday’s closing price of Rs 436 per share.
Dalmia Bharat
Dalmia Bharat is a leading pure-play cement manufacturer in India, committed to supporting the nation’s growth with its robust manufacturing capabilities and extensive presence. The company is the 4th largest cement manufacturer by installed capacity in India.
With a market capitalization of Rs 39,345 crore, the share closed at Rs 2,098 apiece, decreased around 1.75 percent as compared to the previous closing price. ICICI Direct, one of the well-known brokerages in India, gave a ‘Buy’ recommendation on this cement stock with a target price of Rs 2,650.00 apiece, indicating a potential upside of 26 percent from Friday’s closing price of Rs 2,098 per share.
Zen Technologies
Zen Technologies Limited designs, develops, and manufactures combat training solutions and Counter-drone solutions for defense and security forces. It is actively involved in the indigenization of technologies, which are beneficial to the Indian armed forces, state police forces, and paramilitary forces. Zen Technologies is headquartered in Hyderabad, India, with offices in India, the UAE, and the USA.
With a market capitalization of Rs 12,614 crore, the share closed at Rs 1,397 apiece, increased around 0.79 percent as compared to the previous closing price. Choice Equity Broking Private Ltd, one of the well-known brokerages in India, gave a ‘Buy’ recommendation on this drone stock with a target price of Rs 2,150 apiece, indicating a potential upside of 54 percent from Friday’s closing price of Rs 1,397 per share.
Written by Abhishek Singh
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