Global brokerage firm Macquarie has identified six stocks as 'Rising Stars' in its latest India Strategy report, forecasting that these companies could deliver up to 65 percent returns over the next three years.
According to a report on CNBC-TV18, the brokerage believes these stocks are well-positioned to benefit from strong structural tailwinds, changing consumer trends and a favourable domestic macroeconomic environment.
Here is a list of stocks listed by the global brokerage firm
IRCTC: Macquarie has tagged an 'Outperform' rating to Indian Railway Catering and Tourism Corporation (IRCTC) with a price target of Rs 900, implying a 25 percent upside. The brokerage highlighted IRCTC's monopoly in e-ticketing and catering services for Indian Railways, adding that the company is poised to gain from ongoing railway modernisation, improved connectivity, and infrastructure upgrades.
Uno Minda: Uno Minda has also received an 'Outperform' rating with a price target of Rs 1,157, indicating a 32 percent upside. The firm is enhancing its capabilities in electric vehicle (EV) components, offering further expansion opportunities.
Aditya Birla Capital: Aditya Birla Capital is another pick in Macquarie's list, with an 'Outperform' rating and a price target of Rs 260, suggesting a 41 percent potential gain. The financial services company, which has a presence across lending, insurance, among others is expected to benefit from India's growing demand for financial products and services.
Devyani International: Macquarie has set a price target of Rs 215 on Devyani International, reflecting a 44 percent upside.
Delhivery: Delhivery, one of India’s leading logistics and supply chain firms, has received an 'Outperform' rating with a price target of Rs 380, implying a 49 percent upside. Macquarie pointed out that Delhivery is a cost leader in a technology-driven logistics business, well-positioned to capitalise on India's expanding e-commerce sector.
Lemon Tree Hotels: Lemon Tree Hotels has been assigned an 'Outperform' rating with a price target of Rs 210, signalling a 64 percent upside.
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