New Delhi: Jefferies has short listed 11 stocks – Amber Enterprises, Ambuja Cements, Axis Bank, Bharti Airtel, JSW Energy, Larsen & Toubro (L&T), Macrotech Ltd (Lodha), Max Healthcare, State Bank of India (SBI), TVS Motor Company, and Zomato to give impressive returns over the next five years. The global investment bank projected the stocks to rise as the booming Indian stock market would be scaling new heights.
Jefferies estimated the Indian stock market to surpass the $10 trillion milestone by 2030, a report published by Mint stated. Currently, the domestic market is ranked in the top five equity markets globally by market capitalisation. Jefferies had released the report on 18 March 2024.
Stocks to Buy
Amber Enterprises
Jefferies predicted Amber Enterprises share price to jump in future as the company would benefit as air conditioner (AC) penetration in India is set to grow. The firm has increased market share from 22% to 29% over the past five years. The global investment bank has projected Amber share price to rally to the level of Rs 9,740 by March 2029, The stock is currently trading at Rs 4,479 at the time of writing this article.
Ambuja Cement
Jefferies stated that Ambuja Cement, country’s second-largest cement producer, is projected to rise in the coming years. The global capital market firm set the share price target of Rs 1,250. The stock is trading at Rs 623.40.
Axis Bank
Advocating for Axis Bank share price to jump in future, Jefferies gave a target price of Rs 2,810, Mint reported. The counter has increased 11 per cent since the report was published. Axis Bank is the third largest private sector bank in India.
Bharti Airtel
Jefferies believes telecom major Bharti Airtel, which has reported significant consolidation over the past five years, is expected to see its revenue grow by Jefferies forecasts Bharti Airtel’s revenue and Ebitda surge between 12% and 13% annually through 2030. The global investment bank has set a five-year share price target for Bharti Airtel at Rs 2,530. The telecom stock current price is Rs 1,555.60.
JSW Energy
Giving a Buy call on JSW Energy, Jefferies is confident about the company’s growing focus on renewable energy. Jefferies has set a five-year price target for JSW Energy at Rs 1,100. The counterhas rallied 43 per cent since the report was published on 18th March. JSW Energy share is currently trading at Rs 692.25.
Larsen & Toubro
Maintaining a Buy call on Larsen & Toubro (L&T), Jefferies expects the stock of the constriction major to give impressive returns in the next five years.
Macrotech Ltd (Lodha)
With the property sector expected to record an impressive growth, Jefferies projected the stock to rally to the level of Rs 3,000. The stock has jumped less than 20 per cent since the report came out. The stock is currently trading at Rs 1229.60.
Max Healthcare
Backing Max Healthcare shares to gain, Jefferies said that the healthcare stock is expected to give 2.5x returns in the next five years. The investment bank suggested the share target price for Max Healthcare stock is Rs 1,925. The current stock price is Rs 873.80. The counter has increased over 20 per cent since March 18, 2024.
SBI
Jefferies backed shares of State Bank of India to rise as the country’s largest public sector babk is expanding its customer base and has huge deposits. The five-year target price for SBI share is Rs 1,860. SBI stock current trading price is Rs 816.35. Since the report was published, the stock has risen more than 10%.
TVS Motor Company
TVS Motor Company’s earnings per share will grow at a CAGR of 26%, Jefferies reported. The global investment bank has set a five-year target price of Rs 5,000. The current share price is Rs 2,772. Shares of TVS jumped around 35% since March 18.
Zomato
Zomato, the leading food delivery and quick-commerce platform, has the ability to register strong growth potential, Jefferies mentioned in its report. The financial services company has set a five-year price target of Rs 400 for Zomato. The stock is currently trading at Rs 241.55. Notably, the scrip has recorded a jump of around 55 per cent since March 18.
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Stocks to Buy: Jefferies has given Buy rating on 11 stocks – Amber Enterprises, Ambuja Cements, Axis Bank, Bharti Airtel, JSW Energy, Larsen & Toubro (L&T), Macrotech Ltd (Lodha), Max Healthcare, State Bank of India (SBI), TVS Motor Company, and Zomato. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
