15 Stocks To Buy Today Picked From Reports Of Top Brokerage Houses

Markets have been on a roll in the last few weeks, with gains of nearly 10% on the benchmark indices. Here are 15 stocks that have a buy call from leading brokerage houses in the country.

15 Stocks to buy today: Here is a list

Company name	Brokerage house	Current market price	Target price
Avenue Supermarts	Prabhudas Lilladher	4230	4636
Britannia	Prabhudas Lilladher	3689	3880
Reliance Industries	Prabhudas Lilladher	2532	3165
GAIL	Prabhudas Lilladher	140	180
Hindalco	Motilal Oswal	412	490
PI Industries	Motilal Oswal	3237
Indian Oil	Emkay Global	73	90
Shriram Transport	Emkay Global	1361	1610
Exide Industries	Emkay Global	156	175
Bank of Baroda	Emkay Global	118	140
Indigo Paints	Sharekhan	1554	2250
Titan Company	Sharekhan	3428	2900
JMC Projects	Sharekhan	85.9	92
Kalpataru Power	Sharekhan	372	415
Triveni	Sharekhan	226	285

Buy selectively into stocks

It is good to buy selectively in stocks, given the way markets have rallied over the last few weeks.

"Market has rebounded strongly with a turn in the trajectory of foreign investor flows - the last 4 sessions have seen FPI inflows of nearly $1 bn. A perceived pivot in the Fed's tightening cycle and cooling off of crude oil prices have made the macro environment more favourable for India, which has outperformed EM and Asian peers by 6% in the last week.

Banks and Autos have attracted strongest flows while IT has been an under-performer. Going forward, the gap in valuations between Nifty and MSCI Emerging Markets index, as well as the gap between the earnings yield of Nifty vs 10 year G-Sec yield, would be adverse factors and we can expect market returns to be more muted. A pull-back towards the technical support at 200-day moving average at 17000 is possible," says S. Hariharan, Head- Sales Trading, Emkay Global Financial Services.

Buy Max Life, says Emkay Global

Apart from the above list, Emkay Global has recommended buying the stock of Max Financial Services as well. Max Life reported a good set of numbers in Q1FY23. VNB growth stood at 23% YoY, led by 1.4ppts YoY VNB margin expansion and 15% APE growth. Struggle in retail protection and the impact of Axis Bank going fully open architecture from Q3FY22 had its bearing on growth. Going forward, retail protection growth and Axis Bank channel performance should improve from Q3FY23. Max Life reiterated its commitment to deliver growth by continued investments in its proprietary distribution channel and Axis Bank-led distribution channel, while responding to competition by improving product attractiveness for customers. In this backdrop, Max Life is guiding for 25-26% VNB margin target, in line with our estimates.

Target price of Rs 1060 on Max Life

On the non-operational front (Max Financial-Max Life merger, purchase of ~5.2% stake in Max Life by Max Financial from Mitsui Sumitomo, and up to 7% additional stake transfer to Axis Bank group), the status was broadly unchanged from FY22. Overall, Q1FY23 performance was good. "We reiterate our Buy rating with a revised target price of Rs1,060," on the stock the brokerage firm has said.

Buy the stock of Indian Oil, says Emkay Global

According to Emkay Global, the Earnings predictability of OMCs is currently low, with autofuel price freeze continuing and marketing under-recovery on diesel still at Rs10/liter. "With the upcoming winter season, LPG under-recoveries can also increase. Oil prices, GRMs, and currency have also seen volatility with tight market conditions being offset by recession risks. While windfall tax has been partially rolled back, we estimate Rs400-500bn of taxes for the government during remaining 9MFY23," the brokerage firm has said.

If the government provides adequate subsidy to OMCs from this, under-recoveries can be funded. Among elections, Gujarat (in Dec'22) is the only major one this fiscal. "We have built USD10-11/bbl average GRM and Rs1-2/liter of auto-fuel gross marketing margins for remaining 9MFY22, with pricing adjustments in Q3FY23-Q4FY23. We also assume range-bound oil prices and currency, strong non autofuel-LPG margins (as seen in Q1), and recovery in petchem earnings. Hence, we remain constructive on OMCs and any positive triggers can aid rerating," the firm has said.

Price target of Rs 90 on the stock

"We value IOCL on SOTP basis, with core business at 5.5x Sep'24E EV/EBITDA and investments at 30% holdco discount. We retain Buy on reasonable valuations and potential subsidy support and/or pricing adjustments in autofuels-LPG. The Key risks: include adverse commodity prices and margins/currency/polices and project issues," the firm has said.