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Diwali 2022: Havells, Axis Bank, Laurus Labs, Coforge among top Muhurat Picks

Muhurat picks: ICICIdirect recommends Axis Bank, City Union Bank, Apollo Tyres, Eicher Motors, Coforge, Lemon Tree Hotels, Healthcare Global Enterprises, Laurus Labs, Container Corp and Havells India. Check out the buying range and target price

Rakesh Patil | October 15, 2022 / 07:58 IST
1/11
Stock Market Today:
Year 2022 has been marked by volatility on account of a wide variety of global news flow ranging from geopolitical issues, higher inflation (mainly food and energy) and hawkish action of central banks. Amid all this negativity, India has relatively outperformed global peers in terms of all economic parameters, said ICICIdirect. "We believe Corporate India will likely deliver earnings growth in excess of 15% over the next two years given the current economic milieu and provide a plethora of investing opportunities in Indian markets. Our one year forward, Nifty target is at 19,425 (21x FY24 EPS) with a sectoral bias towards banks, capital goods/infrastructure and autos, avoiding sectors having more global exposure like IT, oil & gas and metals," broking house added. Here are the 10 muhurat picks that can bear results in the year ahead:
2/11
Axis Bank | Buying Range: Rs 780-815 | Target: Rs 970 | Potential Upside: 22 percent
Axis Bank | Buying Range: Rs 780-815 | Target: Rs 970 | Potential Upside: 22 percent
3/11
City Union Bank | Buying Range: Rs 170-185 | Target: Rs 215 | Potential Upside: 17 percent
City Union Bank | Buying Range: Rs 170-185 | Target: Rs 215 | Potential Upside: 17 percent
4/11
Apollo Tyres
Apollo Tyres | Buying Range: Rs 260-275 | Target: Rs 335 | Potential Upside: 25 percent
5/11
Eicher Motors | Buying Range: Rs 3,300-3,480 | Target: Rs 4,170 | Potential Upside: 23 percent
Eicher Motors | Buying Range: Rs 3,300-3,480 | Target: Rs 4,170 | Potential Upside: 23 percent
6/11
Coforge | Buying Range: Rs 3,520-3,680 | Target: Rs 4,375 | Potential Upside: 22 percent
Coforge | Buying Range: Rs 3,520-3,680 | Target: Rs 4,375 | Potential Upside: 22 percent
7/11
Lemon Tree Hotels | Buying Range: Rs 78-88 | Target: Rs 110 | Potential Upside: 29 percent
Lemon Tree Hotels | Buying Range: Rs 78-88 | Target: Rs 110 | Potential Upside: 29 percent
8/11
Nureca, a healthcare and wellness products distributor company, IPO listing date was on February 25, 2021, it listed at 58.74 percent premium to Rs 634.95 of its issue price of Rs 400. As of March 15, the stock price closed at 577.60 which was still 44 percent above its issue price.  The company raised about Rs 100 crore via IPO. It was open for subscription between February 15 and February 17 was oversubscribed 39.93x times. The public issue subscribed 166.65x in the retail category, 3.10x in the QIB category, and 31.59x in the NII category.
Healthcare Global Enterprises | Buying Range: Rs 285-305 | Target: Rs 345 | Potential Upside: 17 percent
9/11
Laurus Labs | Buying Range: Rs 485-510 | Target: Rs 675 | Potential Upside: 34 percent
Laurus Labs | Buying Range: Rs 485-510 | Target: Rs 675 | Potential Upside: 34 percent
10/11
Container Corporation | Buying Range: Rs 685-715 | Target: Rs 890 | Potential Upside: 28 percent
Container Corporation | Buying Range: Rs 685-715 | Target: Rs 890 | Potential Upside: 28 percent
11/11
Havells India | CMP: Rs 1,257.60 | The stock price added over 2 percent after the electrical equipment maker reported a 4 percent year-on-year growth in profit at Rs 243 crore for Q1FY23 on muted EBITDA growth of 2 percent and margin contraction. Revenue grew by 63 percent YoY to Rs 4,230 crore in quarter ended June 2022. Global brokerage CLSA sees around 19 percent upside in Havells India, with a target price of Rs 1,430 with an 'outperform' rating. CLSA noted that Havells India's operating margin fell 320 basis points on a QoQ basis to 8.5 percent which is the lowest in more than a decade, CNBC-TV18 reported.
Havells India | Buying Range: Rs 1,220-1,320 | Target: Rs 1,650 | Potential Upside: 29 percent

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