Brokerage sees over 30% upside on these PSU stocks in short-term; check top 10 picks
LKP Securities has picked out its top public-sector undertaking (PSU) stocks which are likely to give good returns to shareholders in the short-term. According to the domestic brokerage house, the PSU stocks have generated positive returns over the past two years and have potential for ‘immense value creation’ in the next 3-6 months. The brokerage sees upside in the range of 15 per cent-40 per cent on these top 10 stocks in short-term.
Bank of Baroda has been moving with a higher top higher bottom formation on the weekly chart, as per the brokerage. At a current market price (CMP) of ₹193, LPK Securities sees an upside of 37 per cent on Bank of Baroda at a target price of ₹250/ ₹265 in the next 3-6 months. The buy area is ₹190- ₹193.
The brokerage added that the stock has been sustaining above the 50 EMA on the weekly timeframe. On the higher end, Bank of Baroda shares are likely to move towards 250/265. Support is placed at ₹174.
On the outlook, the brokerage says that the bank has strong growth in both advances and deposits on the back of a healthy liquidity position and attractive valuations. ‘’Granular liability profile coupled with competitive cost of funds should in our view help the bank going forward. Loan growth guidance of 15 per cent this fiscal and NNPA guidance of 0.75 per cent provides comfort,'' said LKP Securities.
Bharat Electronics has experienced a breakout from a bullish flag formation on the weekly chart. The breakout pattern suggests the potential for further upward movement, as per the brokerage. A robust uptrend is evident in the stock's price action, characterized by consistent higher highs and higher lows, indicating sustained positive momentum.
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