Hot Stocks: 3 stocks that may give returns between 20-43%

A look at some of the stock recommendations by analysts of late. Brokerages have initiated coverage on these stocks with buy ratings and project returns of 20% to 43%, as per their analysts’ price targets.

Ramkrishna Forgings

BROKERAGE: UBS Price Target: Rs 1,500 CMP: Rs 1,048 Upside: 43.1%

• To outperform peers as it transitions from a forged product manufacturer to a complete assembly provider. Upcoming capacity expansion, client additions, key order wins and recent acquisitions provide earnings visibility. Consensus does not factor in capability or potential growth drivers.

JSW Infrastructure

BROKERAGE: NUVAMA Price Target: Rs 390 CMP: Rs 302.3 Upside:20.7%

• Current stock price offers 19% IRR over three years.
• Transforming from being a port operator to a logistics utility company.
• Group entity JSW Steel’s capex plans provide visibility to JSW Infrastructure

Time Technoplast

BROKERAGE: SYSTEMATIX Price Target: Rs 615 CMP: Rs 439 Upside:40%

• Market leader in the domestic industrial packaging industry; optimistic about its value-added composite products (LPG and CNG cascade cylinders)
• Focus on improving financials to turn debt-free over 2-3 years.
• Identified non-core, nonperforming assets that it intends to sell, which could go to fund capex, reduce debt and reward shareholders.