3 Stocks That Can Rally Up To 63%: Motilal Oswal Recommends Best Stocks To Buy

Motilal Oswal has recommended investors to buy 3 stocks showing good potential to rise. If you buy these stocks now, you will get maximum 63% return. These stocks are Angel One, Eris Lifesciences, and Bank of India. Check details below:

1. Buy Angel One

Motilal Oswal has recommended investors to buy Angel One Ltd with a target price of Rs 2100. The current market price of Angel One is Rs 1286.45 apiece with an intraday decline of 0.43% on BSE. If you buy Angel One now, you will potentially receive 63% return.

The stock's 52-week high is Rs 2022.00 apiece and 52-week low is Rs 1065.85 apiece, respectively. The small cap company operates in Financial Services sector. The stock declined 20% in last 3-months, 11% in last 1-month, and 7% in last 1-year. It was incorporated
in 1996.

According to the analyst, "We have upgraded FY23 earnings estimates by 7.6% to factor in higher than-estimated interest income. For FY24/FY25, we have made minor changes in EPS estimates and raised our revenue per order forecasts for the cash and F&O segments while cutting growth estimates for the number of orders for both the segments given weak trends. We maintain our BUY rating on the stock with a revised TP of INR2,100 (premised on 18x Sep'24E EPS)."

2. Buy Eris Lifesciences

The brokerage has given buy rating to Eris Lifesciences with a target price of Rs 780 apiece. The current market price of the stock is Rs 642.20 apiece with an intraday fall of 1.47%. If you buy Eris Lifesciences, you will get likely 22% upside.

The company has a market capitalisation of Rs 8733 crore. Its 52-week high is Rs 766.00 apiece and 52-week low is Rs 600.50 apiece, respectively. The pharma sector stock has given 27% return in last 3-years, declined 13% in last 1-year, and again 13% in last 3-months. The mid cap company was incorporated in 2007.

According to Motilal Oswal, "Eris Lifesciences (ERIS) delivered in-line 3QFY23. The efforts remain on track for improving the margins of Oaknet, and driving higher sales of Insulin franchise. Recently, it also acquired brands from Glenmark Pharma to considerably enhance its dermatology offering. We reiterate our BUY rating on the stock."

3. Buy Bank of India

Motilal Oswal has assigned buy rating to the public sector bank, "Bank Of India" but did not give any target price. The current market price of the stock is Rs 89.85 apiece with a decline of 3.75%.

The stock's 52-week high is Rs 103.50 apiece and 52-week low is Rs 40.40 apiece, respectively. The company has a market capitalisation of Rs 36,829.51 crore.

The stock has rallied 87% in last 3-months, 69% in last 1-year, and 30% in last 3-years. It has soared over 91% in last 6-months. The banking company was incorporated in 1906.

According to the analyst, "BoI reported a PAT of INR11.5b (up 12% YoY), led by healthy NII growth and controlled provisions. NII grew by a healthy 64% YoY as margins expanded 24bp QoQ to 3.28%."

 

Disclaimer

The stocks have been picked from the brokerage report of Motilal Oswal. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.