SBI, Airtel, RIL & 5 other stocks to accumulate in 2023

With Nifty having risen 5% in the calendar year 2022, HDFC Securities has a cautious outlook on the index. “We believe, there is a downside risk to FY24 consensus earnings and a very limited scope of valuation upside. This will keep the upside for the index capped and at the best, it will move in line with the earnings growth,” HDFC Securities said.

The brokerage recommends investors to accumulate these 8 stocks:

The brokerage has a target price of Rs 1,195 on Axis Bank, which implies an upside potential of 27% from the current market price of Rs 939 per share. The stock has surged nearly 34% year-to-date.

HDFC Securities has a target price of Rs 983 on Bharti Airtel, which shows an upside of 19% from the current market price of Rs 828 per share. The stock has risen about 20% year-to-date.

HDFC Securities has a target price of Rs 1,790 on Infosys, which shows an upward potential of 16% from the current market price of Rs 1,547 per share. The stock has fallen nearly 19% year-to-date.

The brokerage has a target price of Rs 2,345 on Larsen & Toubro, which shows an upside of 8% from the current market price of Rs 2,162 per share. The stock has surged nearly 12% year-to-date.

The brokerage has a target price of Rs 2,708 on RIL, which implies an upside potential of 4% from the current market price of Rs 2,612 per share. The stock has risen about 9% year-to-date.

HDFC Securities has a target price of Rs 700 on SBI, which implies an upside of 14% from the current market price of Rs 613 per share. The stock has risen 30% year-to-date.

The brokerage has a target price of Rs 128.8 on Tata Steel, which shows an upside of 15% from the current market price of Rs 112 per share. The stock has fallen about 2% year-to-date.

HDFC Securities has a target price of Rs 7,615 on UltraTech Cement, which shows an upside of 7% from the current market price of Rs 7,142 per share. The stock has fallen nearly 7% year-to-date.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)