Indian benchmark indices traded in green on January 7 with Nifty around 23,747.00. In the morning session, the Sensex is up by 307.99 points or 0.40 percent at 78,268.38, and the Nifty is up by 130.70 points or 0.55 percent at 23,748.65.
Here are the fundamentally strong stocks to buy with an upside potential of up to 52%;
1. Oil and Natural Gas Corporation Ltd
Oil and Natural Gas Corporation Limited explores, develops, and produces crude oil, natural gas, and value-added products in India, as well as acquiring oil and gas acreages outside of India for exploration, development, and production, downstream, petrochemicals, and power generation.
With a market capitalization of Rs 3.33 lakh crore, the shares were trading at Rs 265.80 per share, increasing around 4.52 percent as compared to the previous closing price of Rs 254.30 apiece
CLSA, one of the well-known brokerages globally, gave a ‘Buy’ call on the refinery stock with a target price of Rs 360 apiece, indicating a potential upside of 26 percent from Tuesday’s price of Rs 265.80 per share.
According to the brokerage, ONGC’s shares will see various volume and realization triggers in 2025, including rising production from the eastern offshore field. This will increase ONGC’s domestic oil and gas production by 10% and 20%, respectively, by the end of the year. Further, the removal of the windfall tax may also allow ONGC to earn a higher than $75/bbl realization if crude recovers.
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2. Jyothy Labs Ltd
Jyothy Labs Limited is an FMCG firm. The company manufactures and markets products for fabric cleaning, dishwashing, mosquito repellent, and personal care. The company’s segments are Fabric Care, Dishwashing, Household Insecticides, Personal Care, Laundry Service, and Others.
With a market capitalization of Rs 14,504.74 crore, the shares were trading at Rs 395.00 per share, increasing around 1.55 percent as compared to the previous closing price of Rs 389.40 apiece
HDFC Securities, one of the well-known brokerages in India, gave a ‘Buy’ call on the FMCG stock with a target price of Rs 600 apiece, indicating a potential upside of 52 percent from Tuesday’s price of Rs 395 per share.
According to the brokerage, the company is aggressively targeting growth in liquid detergents through competitive pricing and channel-specific SKUs. It aims to regain dishwashing market share with better consumer value and trade schemes, address higher PFAD costs in soaps via pricing, and drive liquid adoption in insecticides with improved product offerings.
Written by:- Abhishek Singh
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