CEAT to IGL: Yes Securities recommends 4 stocks that may rock in March 2023

Yes Securities stock recommendations: After bleeding for near a fortnight due to weak global sentiments, Indian stock market finally announced to come out of the weakness zone after two successive strong sessions on Friday and Monday. In these two sessions, BSE Sensex shot up over 1300 points, Nifty 50 index ascended to the tune of 400 points whereas Nifty Bank index skyrocketed over 950 points.

According to stock market experts, after finishing lower for three straight months, market is in oversold zone and chances are high for bulls outperforming bears in the last month of current financial year. As per the Yes Securities stock recommendations, positional investors with long term view may look at cashing on the opportunity available to long term investors due to the recent sell off. The brokerage has recommended 4 stocks that may give stellar return in next 12 months.

Here we list out four stock picks suggested by Yes Securities for long term investors:

1] Whirlpool: Share price of this BSE and NSE listed company ended at around ₹1,340 apiece on NSE on Monday. As per the Yes Securities research, Whirlpool shares may go up to ₹1,808 per share levels in next 12 months, delivering to the tune of near 35 per cent in next one year time. The brokerage believes that the debt-free company is focusing on three pillars: washing machine, refrigerator and cooking company is focusing on 3 pillars: washing machine, refrigerator and cooking space to drive growth, going forward.

2] CEAT: This tyre company was established in 1958 and is a flagship company of RPG Enterprises. It is one of India’s leading tyre manufacturers and has a strong presence in global markets. CEAT produces more than 41 million high-performance tyres, catering to various segments like 2-3wheeler, Passenger and Utility Vehicles, Commercial Vehicles and Off-Highway Vehicles.

As per the Yes Securities report, CEAT share price may go up to ₹1,807 per share levels in next 12-month, delivering to the tune of 26 per cent return to its shareholders against current CEAT share price of ₹1,435 apiece.

3] Cholamandalam Investment & Finance: Cholamandalam Investment & Finance Co. (CIFC), is part of the prestigious Murugappa Group and is one of the premier diversified non-banking finance companies in India, engaged in providing vehicle finance, home loans and loan against property. The company has a strong network of 1166 branches spread across the country with an employee strength of 41,445.

Cholamandalam share price ended at ₹767.20 apiece on NSE and Yes Securities report believes that the stock may go up to ₹1,644 per share levels in next 12-mmonth, delivering to the tune of 20 per cent in next one year or say by next Holi.

4] Indraprastha Gas Ltd or IGL: The company was incorporated in 1998 and is one of the leading City Gas Distribution (CGD) companies in India. The company is a joint venture promoted by GAIL and BPCL. The company is in the city gas distribution business, providing safe and uninterrupted gas supply through its extensive distribution network to transport (CNG), domestic, commercial, and industrial consumers (PNG).

The brokerage believes that IGL share price may go up to ₹535 per share levels from its current price of ₹445 apiece, delivering to the tune of 20 per cent return to its long term investors in next 12 months.

So, those who are looking to add new stock in one’s portfolio in Holi 2023 and they have perspective for next Holi, they can look at these four stocks that may rock till March 2024.

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