Stocks to buy: Nifty may hit 25k by year-end, says Axis Securities, lists 16 top picks to buy in May

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Bank of Baroda, Varun Beverages, Lupin, and PNC Infratech are among the 16 stocks, across segments, that brokerage firm Axis Securities is positive about for the short term. These 16 stocks are the top picks of Axis Securities for the month of May and the brokerage firm expects them to rise in the range of 10-31 per cent.

The brokerage firm pointed out that the 'Axis Top Picks' basket beat the equity benchmark Nifty 50 by a margin of 4.6 per cent in April, delivering a return of 5.8 per cent in the month against the 1.2 per cent return of the Nifty 50. Over the last year, the top picks basket of Axis Securities has gained 49 per cent, while since its start in May 2020, this top picks basket of Axis has delivered a solid return of 284 per cent, well above the 144 per cent return of the Nifty 50 index over the same period, the brokerage firm claimed.

Also Read: Stock market news: Sensex crashes 1%; India VIX jumps 12%; why is Indian stock market falling today?- explained ICICI Bank, Coal India, Nestle India, State Bank of India (SBI), Varun Beverages, Bank of Baroda, Bharti Airtel and TVS Motor Company are the largecap stocks suggested by Axis Securities. Aurobindo Pharma, Lupin, Federal Bank and CreditAccess Grameen are the top picks of Axis Securities from the midcap segment.

JTL Industries, CIE Automotive India, Westlife Foodworld and PNC Infratech are the top picks from the smallcap segment. Also Read: BHEL share price jumps 9% to hit a 52-week high, up fourfold in less than a year; should you buy, sell, or hold? Axis Securities is positive about the growth prospects of the domestic market, and it suggests the use of market corrections to buy stocks.