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These 11 stocks are down 40% from their highs but hold good upside potential

The Sensex and the Nifty have more than 15 percent each from recent their highs as heavy selloff plagues stock markets across the world,

June 15, 2022 / 01:03 PM IST
Indian equities, as with global peers, have been hammered in the last few weeks, with the benchmark Sensex and Nifty falling more than 15 percent each from their highs. The Nifty midcap 100 and smallcap 100 indices are down over 20 percent and have entered the bear market territory. A bear market is characterised by a more than 20 percent fall from the recent highs. During this carnage, 12 BSE 100 index stocks have fallen more that 40 percent from their year high. According to Bloomberg’s consensus rating, barring Adani Green, 11 of these stocks have a good upside potential over the next 12 months. The consensus rating is based on analyst recommendations.
Indian equities, as with their global peers, have been hammered in the last few weeks, with the benchmark Sensex and Nifty indices falling more than 15 percent each from their highs. The Nifty Midcap 100 and Smallcap 100 indices are down over 20 percent and have entered the bear market territory. A bear market is characterised by a more than 20 percent fall from the recent highs. During this carnage, 12 BSE 100 index stocks have fallen more than 40 percent from their year high. According to Bloomberg’s consensus rating, barring Adani Green, 11 of these stocks have a good upside potential over the next 12 months. The consensus rating is based on analyst recommendations.
Hindalco Inds| The stock has fallen about 44 percent from its 52-week high of Rs 636 to Rs 358 on June 14. According to Bloomberg's consensus rating, the stock has an upside potential of about 64 percent, with the target price of Rs 589.
Hindalco Industries | The stock has fallen about 44 percent from its 52-week high of Rs 636 to Rs 358 on June 14. According to Bloomberg's consensus rating, the stock has an upside potential of about 64 percent, with the target price of Rs 589.
 Piramal Enterprises  | The stock was down about 47 percent from its 52-week high of Rs 3,013 to Rs 1,597 on June 14. According to Bloomberg's consensus rating, the stock has an upside potential of about 53 percent, with the target price of Rs 2,451.
Piramal Enterprises | The stock was down about 47 percent from its 52-week high of Rs 3,013 to Rs 1,597 on June 14. According to Bloomberg's consensus rating, the stock has an upside potential of about 53 percent, with the target price of Rs 2,451.
 Zee Entertainment  | The stock has shed 41 percent from its 52-week high of Rs 379 to Rs 223 on June 14. According to Bloomberg's consensus rating, the stock has an upside potential of about 47 percent, with the target price of Rs 328.
Zee Entertainment | The stock has shed 41 percent from its 52-week high of Rs 379 to Rs 223 on June 14. According to Bloomberg's consensus rating, the stock has an upside potential of about 47 percent, with the target price of Rs 328.
 Bajaj Finserv  | The stock has lost about 41 percent from its 52-week high of Rs 19,320 to Rs 11,335 on June 14. According to Bloomberg's consensus rating, the stock has an upside potential of about 44 percent, with the target price of Rs 16,308.
Bajaj Finserv | The stock has lost about 41 percent from its 52-week high of Rs 19,320 to Rs 11,335 on June 14. According to Bloomberg's consensus rating, the stock has an upside potential of about 44 percent, with the target price of Rs 16,308.
 Tech Mahindra  | After a 44 percent slump from its 52-week high of Rs 1,838, the stock traded at Rs 1,030 on June 14. According to Bloomberg's consensus rating, the stock has an upside potential of about 41 percent, with the target price of Rs 1,451.
Tech Mahindra | After a 44 percent slump from its 52-week high of Rs 1,838, the stock traded at Rs 1,030 on June 14. According to Bloomberg's consensus rating, the stock has an upside potential of about 41 percent, with the target price of Rs 1,451.
 L&T Infotech Ltd  | The stock dived about 45 percent from its 52-week high of Rs 7,595 to Rs 4,192 on June 14. According to Bloomberg's consensus rating, the stock has an upside potential of about 39 percent, with the target price of Rs 5,810.
L&T Infotech Ltd | The stock dived about 45 percent from its 52-week high of Rs 7,595 to Rs 4,192 on June 14. According to Bloomberg's consensus rating, the stock has an upside potential of about 39 percent, with the target price of Rs 5,810.
 Indraprastha Gas  | A 43 percent decline from its 52-week high of Rs 604, took the share to Rs 342 on June 14. According to Bloomberg's consensus rating, the stock has an upside potential of about 38 percent, with the target price of Rs 472.
Indraprastha Gas | A 43 percent decline from its 52-week high of Rs 604, took the share to Rs 342 on June 14. According to Bloomberg's consensus rating, the stock has an upside potential of about 38 percent, with the target price of Rs 472.
 Aurobindo Pharma  | The stock price has eroded about 47 percent from its 52-week high of Rs 1,017 to Rs 535 on June 14. According to Bloomberg's consensus rating, the stock has an upside potential of about 31 percent, with the target price of Rs 700.
Aurobindo Pharma | The stock price has eroded about 47 percent from its 52-week high of Rs 1,017 to Rs 535 on June 14. According to Bloomberg's consensus rating, the stock has an upside potential of about 31 percent, with the target price of Rs 700.
Info Edge| The stock has fallen about 52 percent from its 52-week high of Rs 7,463 to Rs 3604 on June 14. According to Bloomberg's consensus rating, the stock has an upside potential of about 30 percent, with the target price of Rs 4,668 .
Info Edge | The stock has plunged about 52 percent from its 52-week high of Rs 7,463 to Rs 3,604 on June 14. According to Bloomberg's consensus rating, the stock has an upside potential of about 30 percent, with the target price of Rs 4,668.
Jubilant Foodwork| The stock has fallen about 44 percent from its 52-week high of Rs 915 to Rs 517 on June 14. According to Bloomberg's consensus rating, the stock has an upside potential of about 26 percent, with the target price of Rs 653.
Jubilant Foodwork | The stock suffered a 44 percent downfall from its 52-week high of Rs 915 to Rs 517 on June 14. According to Bloomberg's consensus rating, the stock has an upside potential of about 26 percent, with the target price of Rs 653.
Lupin Ltd| The stock has fallen about 50 percent from its 52-week high of Rs            1,206 to Rs                      609 on June 14. According to Bloomberg's consensus rating, the stock has an upside potential of about 13 percent, with the target price of Rs                688.
Lupin Ltd | The share price halved to Rs 609 on June 14 from its 52-week high of Rs 1,206. According to Bloomberg's consensus rating, the stock has an upside potential of about 13 percent, with the target price of Rs 688.
Ritesh Presswala Research Analyst at Moneycontrol
first published: Jun 15, 2022 01:03 pm