Global investment and brokerage house Citi has a target of 20,800 for the Sensex by the end of the year. Here are 6 stocks that the firm recommends and which it believes could give investors more then 20 per cent returns in 2013.
Jindal Steel and Power
Citi expects a target of Rs 567 on Jindal Steel and Power, which is a whopping jump from the present price of Rs 335. Jindal Steel is a top player in the steel business and part of the Jindal Group.
Citi has a target of Rs 508 on the Tata Steel stock by the end of the year. The current market price of Tata Stel is Rs 308, which means the target price is a jump of 70 per cent by the end of the year. Tata Steel is a well managed integrated steel player with plants across the globe.
Citi has set a target of Rs 260 on Aurobindo Pharma from the present level of Rs 158. A jump of almost 60 per cent from the current level. Aurobindo is a top domestic pharma company which has recently received US FDA approvals for a number of its products.
Bharti Airtel has been recommend as a buy with a target of Rs 397 by Citi. The stock is currently trading at Rs 277. Bharti is India's largest telecom company with a presence also in Africa.
India's largest private sector Bank, ICICI Bank has also been recommended by Citi. The stock is currently trading at Rs 996 and Citi has put a target price of Rs 1,425 on the stock.
Domestic pharma company Glenmark Pharma has also been picked by Citi for returns in excess of 20 per cent. The stock is currently trading at Rs 468.