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Axis Securities released a list of top 10 stocks to buy in July. The Indian stock markets have sharply risen due to foreign fund inflows.

Due to the positive foreign fund inflows, the Indian stock markets have sharply risen. The top picks of Axis Securities are:

  1. ICICI Bank Ltd:Current Price: Rs. 360.80

Target Price: Rs. 495

Implied Gain in the next one year: 27%

Thanks to its healthy and sustainable earning outlook, ICICI Bank offers the best risk-rewards among the covered banks.

  1. Manappuram Finance Ltd: Current Price: Rs. 161

Target Price: Rs. 173

Implied Gain in the next one year: 7%

Well-matched ALM Profile, strong liquidity, cost controls, stable asset quality and tailwind from high gold prices would help Manappuram Finance Ltd sustain its performance even in a critical business environment.

  1. Varun Beverages Ltd: Current Price: Rs. 700

Target Price: Rs. 804

Implied Gain in the next one year: 13%

Lower product ticket size would help quicker recovery in volumes for VBL. VBL is targeting to make soft drinks popular in villages, this would boost profits further.

  1. CCL Products Ltd: Current Price: Rs. 240.70

Target Price: Rs. 267

Implied Gain in the next one year: 9.8%

Being the largest manufacturer and exporter of instant coffee in India and with its expertise in customized blends and cost-efficient business model, CCL would make good profits.

  1. Minda Industries Ltd: Current Price: Rs. 288

Target Price: Rs. 318

Implied Gain in the next one year: 9.4%

By leveraging broader vehicular trends of industry like EV, premiumization, automation etc., it would earn good profits. To gain market share, it is enhancing product offering with strategic inorganic acquisition.

  1. ITC Ltd: Current Price: Rs. 206.85

Target Price: Rs. 230

Implied Gain in the next one year: 10%

Normalization of operations and quicker recovery in FMCG sales post-COVID would support ITC’s earnings.

  1. Bharti Airtel Ltd: Current Price: Rs. 583.10

Target Price: Rs. 650

Implied Gain in the next one year: 10.2%

Airtel is well-capitalized to deal with payouts. With a Rs. 450 billion equity in FY20, it has also raised enough capital.

  1. Biocon Ltd: Current Price: Rs. 397.20

Target Price: Rs. 474

Implied Gain in the next one year: 16.2%

Biocon’s contract research segment, Syngene, is expected to grow in teens while single-digit growth is expected for the branded formulations business. It would also enter the Eli Lily and Sanofi dominated US market with its Insulin Glargine (Semglee).

  1. MindTree Ltd: Current Price: Rs. 943

Target Price: Rs. 1088

Implied Gain in the next one year: 13.3%

 

Owing to better cost-control measures, they are expected to have long term sustainable operating margins.

  1. HCL Technologies: Current Price: Rs. 578.45

Target Price: Rs. 653

Implied Gain in the next one year: 11.4%

Digital transformational deals worth greater than $2.4bn was received by HCL Tech in the quarter that ended in December. HCL is showing positive signs in consumer-packaged goods as well as BFSI verticals.

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