5 hours ago
SUMMARY
From Ashok Leyland and Coforge to HCL Technologies and Rainbow Children Medicare, these stocks offer potential for both short- and long-term growth. Mirae Asset Capital Markets highlights its top eight stock picks for January 2025, emphasising strong growth prospects across key sectors.
By Sheersh Kapoor January 10, 2025, 5:06:33 PM IST (Updated)
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1. Currently priced at ₹210.60, Mirae Asset Capital Markets reccomends Ashok Leyland , with a target price of ₹240–243, supported by its 34% market share in buses. The company’s focus on higher-margin segments has helped sustain healthy margins despite a weaker Q2FY25. With the recovery in the commercial vehicle industry, Ashok Leyland is well-positioned for sustained growth in the coming months.
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2. Significant upside is expected in Coforge, which is currently priced at ₹9,467.50, with a target of ₹10,434.2. The company reported impressive order intake growth of 43% QoQ and YoY, alongside a solid executable order book worth $1,105 million. With a strong track record in digital transformation, Coforge is poised for further expansion.
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3. Currently priced at ₹188.90, with a target of ₹205, Federal Bank is well-positioned for steady returns. With strong pan-India presence and a diversified portfolio, the bank has delivered solid loan growth, especially in retail and corporate banking segments. The reduction in GNPA to 2.09% in Q2FY25 further enhances its appeal to investors.
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4. HCL Technologies, trading at ₹1,995.60, is recommended with a target of ₹2,002–2,020. The company continues to lead in digital transformation services, offering consulting, engineering, and R&D solutions across 52 countries. With a strong growth trajectory and a skilled workforce of over 224,000 employees, HCL remains a top pick for long-term growth.
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5. Mirae Asset recommends Varun Beverages at the current market closing price of ₹596, with a target price of ₹671–676. As PepsiCo’s largest global franchisee outside the US, Varun Beverages is expanding rapidly. Recent acquisitions, such as BevCo, and new greenfield facilities in the DRC, will allow the company to significantly scale its operations and meet growing demand in global beverage markets.
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6. KIMS, currently priced at ₹650.45, offers an 8% upside potential with a target price of ₹679–681. The company has reported strong growth in both revenue and PAT, with a 19.1% YoY revenue increase in Q2FY25. Its aggressive expansion plan, adding 2,400 beds by FY27, is expected to drive further growth, making it an attractive pick for investors.
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7. Priced at ₹1,552.10, Rainbow Children Medicare has a target price of ₹1,678.7, offering an 8% upside. The company has reported strong financial growth with 26% YoY revenue growth and 25% PAT growth in Q2FY25. Expansion plans, including adding 780 beds by FY2028, alongside strong operating margins, position it for continued growth in the healthcare sector.
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8. Uno Minda, currently priced at ₹1,072.15, is recommended with a target price of ₹1,151.0. A leader in automotive solutions, the company is expected to see strong revenue growth driven by the addition of premium products and the expansion of its manufacturing capacity. With over 73 plants worldwide, Uno Minda is poised to capitalise on the growing demand for automotive components.
