"ICICI Bank's valuations are attractive at current levels and it is among our top picks in sector," Jefferies said.
These stocks have so far rallied 29-71 percent from their March lows.
While having a buy call on Finolex Industries, the manufacturer of PVC pipes, with a target of Rs 500, Jefferies said the company reported subdued Q4 as sales/profit fell 21/39 percent YoY. CNBC-TV18 reported.
The sales volumes of pipes/PVC resin dipped 20 percent during the quarter YoY, but pipes segment margin improved to the highest level, it added.
However, despite weak earnings scorecard, Jefferies said the company's balance sheet remained strong with net debt-to-equity ratio at 0.03x.
The stock has gained 7.8 percent intraday. It is up 71.4 percent from its March lows touched on March 24.
On June 23, it was trading at Rs 508, up 5.55 percent on the BSE at 10:55 hours IST.
Jefferies also has a buy rating on KEI Industries, the house wiring rubber cables manufacturer, with a target of Rs 400 as it feels the company is a holistic India play on its exposure to capex, consumption and engineering exports.
Its capacity utilisation has reached 60-65 percent levels, said the global brokerage, adding company's pecking order of demand-side recovery is exports.
KEI has strong balancesheet which would help company manage a challenging FY21.
The stock was up 5 percent intraday today and jumped 68 percent from its March lows. It was trading at Rs 362.60, up 3.01 percent at 10:55 hours IST.
While having a buy call on the country's second largest private sector lender ICICI Bank, Jefferies said it has raised its price target on the stock to Rs 460 (from Rs 450 earlier), implying 25 percent potential upside from current levels as the bank offers a favourable risk-reward with receding asset quality risks.
"Its valuations are attractive at current levels and it is among our top picks in sector," it added.
The monetisation of gains on stake in subsidiaries helped the bank mobilise Rs 3,090 crore.
ICICI Bank sold 3.96 percent stake in ICICI Lombard General Insurance Company for Rs 2,250 crore on June 19 and 1.5 percent shareholding in ICICI Prudential Life Insurance Company for Rs 840 crore on June 22 through open market transactions.
The stock has rallied 29 percent so far from its March lows, but today it lost more than 2 percent on profit booking. It was trading at Rs 367.30, down 2.33 percent on the BSE.Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.