Largecap stock picks: Brokerage firm Yes Securities has suggested investing in 6 stocks including Reliance Industries and Tata Motors in the year 2022, which are showing strong upside potential.
Largecap Stock Picks: According to Yes Securities, Nifty 50 can touch the level of 21,000 by the end of this year. Domestic brokerage and research firm has presented a bullish outlook note for Dalal Street, which estimates that Nifty 50 will cross 21,000 levels by December this year and 32,000 by 2025. Analysts of Yes Securities have selected 16 such stocks for the year 2022, which can give excellent returns to the investors. Out of these selected stocks, 6 are large-cap stocks which include Reliance Industries and State Bank of India.
Reliance Industries: Buy
Target: Rs 2860
Reliance Industries Limited (RIL) is the largest private sector company in India. Owned by industrialist Mukesh Ambani, this company has a strong hold in many sectors including oil and gas, retail and telecom. Yes Securities expects the company to do well in the renewable energy as well as retail and digital commerce side. The brokerage firm has fixed a target price of Rs 2860 for this stock, which is 13% higher than the current price.
Tata Motors: Buy
Target: Rs 566
The auto unit of the Tata Group has seen a strong jump on Dalal Street since the second half of 2020. Tata Motors has revamped its personal vehicle portfolio. Apart from this, Tata Motors is also doing well in the electric vehicle business. The brokerage firm has fixed a target price of Rs 566 for this stock. To reach the target price, the share price of Tata Motors would have to gain 11 per cent.
SBI Cards and Payment Services: Buy
Target: Rs 1400
The brokerage firm expects that the shares of SBI Cards and Payment Services may see a jump soon. Strong earning CAGR is expected in a company with strong support from State Bank of India. The brokerage firm has fixed a target price of Rs 1400 for this company. To reach the target price, the share price of Tata Motors would have to gain 56 per cent.
ICICI Prudential Life: Buy
Target: Rs 836
Analysts at Yes Securities believe that ICICI Prudential will do well in the future. “In terms of channel mix, ICICI Prudential is working hard to be more diversified and reduce its dependence on ICICI Bank,” he added. The brokerage firm has fixed a target price of Rs 836 for this company. To reach the target price, the share price of Tata Motors would have to gain 42 per cent.
State Bank of India: Buy
Target: Rs 660
The country’s largest state-run bank State Bank of India (SBI) is projected to see strong growth in the next few years. Due to this, the brokerage firm expects that its shares may see a strong rally in the coming time. The brokerage firm has fixed a target price of Rs 660 for the shares of this company. The stock may climb 29% to reach the target price.
Gland Pharma: Buy
Gland Pharma shares have more than doubled in value after listing in the second half of 2020. The brokerage firm expects strong growth in the company. Yes Securities says, “In the next 3-4 years, the business of the company may increase further. The company has full potential for growth in the next two years. The brokerage firm has fixed a target price of Rs 4500 for this. The stock may climb 21% to reach the target price.