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Anand Rathi's Diwali stock picks: Infosys, Rossari Biotech and more

Anand Rathi's Diwali stock picks: Infosys, Rossari Biotech and more
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By Yashi Gupta  Oct 27, 2021 10:18:42 AM IST (Published)

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SUMMARY

Indian share market finally recovered a bit after four sessions of setbacks. And with the festive season right around the corner, Anand Rathi Financial Services has listed its top investment bets such as Infosys, Coforge, Rossari Biotech and more. Here are the stocks you can buy for solid gains this Diwali:

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Infosys: The brokerage is predicting an upside of 16 percent in the stock, setting the target price at Rs 2,000 on account of its strong presence in various industries and markets.

S&P BSE Metal | 2019 return: (-)17.32 percent | Level as on 31 Dec 2018: Rs 11,839.59 | Level as on 13 Dec 2019: Rs 9,788.75
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Hindalco: Anand Rathi has a target price of Rs 578 on the stock on the back of its overall operations getting stronger. It said the company's valuations are "still not stretched considering the solid operational performance and ongoing balance sheet deleveraging together with strong opportunities for pursuing growth capex at a comfortable leverage position."

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Coforge: The brokerage has a target price of Rs 6,465 -- almost 20 percent higher than its current market price. It said the company's robust deal pipeline along with strong deal wins momentum and particularly consistency in large deal wins, value curation and strong FY22 guidance from the management are key positives.

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Indo Count Industries: The brokerage has a target price of Rs 334 for the company, up 20 percent from its current market price of Rs 279. "An uptick in the demand for home textile is seen owing to various factors like China+1 strategy, US ban of Xinjiang cotton, strong demand in value-added categories such as health and hygiene. Appropriate product mix, government incentives will aid in strengthening margins," Anand Rathi said.

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Rossari Biotech: The brokerage sees an almost 30 percent upside in the stock on account of its newly commissioned Dahej unit ramp-up going as planned. It has a target price of Rs 1,840.

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Vardhaman Special Steels: The brokerage sees a 35 percent upside in the stock on the back of its increased utilisation levels and partnership with Aichi Steel (a subsidiary of Toyota Group) auguring well in the long-term for the company. The target price is Rs 350, from the current market price of Rs 260.

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