Stock Picks for 2024 by ICICIdirect

Stock Picks for 2024 by ICICIdirect

VoM News Desk | January 1, 2024 | 07:55 PM IST | Breaking News | Follow on Google News

Stock Picks for 2024 by ICICIdirect

Stock Picks for 2024 by ICICIdirect

1. Ugro Capital

• Target Price: ₹350 (30% upside)
• Reasoning: Focus on cash flow-based lending, strong in-house collection infrastructure ensuring asset quality. Utilization of GRO score tool for assessing repayment capabilities enhances collection efficiency.
• Recommendation: Buy with a target price of ₹350.

2. SBI Cards

• Target Price: ₹950 (25% upside)
• Reasoning: Margin decline in FY24E expected, but recovery anticipated in FY25E due to benefits from an anticipated reversal in the interest rate cycle.
• Recommendation: Buy with a target price of ₹950.

3. NMDC Ltd

• Target Price: ₹250 (21% upside)
• Reasoning: Focused on increasing production volumes, aiming for ~46 MT in FY24 and ~50 MT by FY25. Expanding into other minerals such as bauxite, gold, diamond, lithium, etc.
• Recommendation: Buy with a target price of ₹250.

4. Uno Minda

• Target Price: ₹810 (21% upside)
• Reasoning: Strong growth history, robust EV order book, minimal EV risk in existing portfolio. Projected sales CAGR at 19% over FY23-26E.
• Recommendation: Buy with a target price of ₹810.

5. Greenply Industries

• Target Price: ₹295 (24% upside)
• Reasoning: Anticipated plywood volume growth, driving revenues at a CAGR of ~10%. Expected margin expansion to 11.2% in FY26.
• Recommendation: Buy with a target price of ₹295.

Outlook for 2024:

• Nifty earnings expected to grow at a CAGR of 16.3% over FY23-26E.
• December 2024 targets set at Nifty 25,000 and Sensex 83,250, offering a potential upside of ~15% from current levels.

The information provided is based on ICICIdirect’s research and recommendations. Investors should perform their own research and due diligence before making investment decisions.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.