As the festive season kicks off, domestic stock markets witness fluctuations influenced by sentiments from foreign markets.
Recent corporate updates have made certain stocks particularly appealing for long-term investments, according to brokerage house Shrekhan.
Here are five auto stocks they recommend with the potential for returns of up to 27 percent from their current prices.
Ashok Leyland
Shrekhan advises buying Ashok Leyland stock, with a target price of Rs 221.
As of September 7, 2023, the share price stands at Rs 182, offering investors a potential 21 percent return per share.
Apollo Tyres
Apollo Tyres is another recommended pick by Shrekhan. The target price for this stock is Rs 472, while the share price on September 7, 2023, was Rs 384.
Investors could potentially gain a 23 percent return per share.
Eicher Motors
Shrekhan suggests investing in Eicher Motors, with a target price of Rs 3,855.
As of September 7, 2023, the share price was Rs 3,397, offering investors a potential 14 percent return per share.
Exide Industries
Exide Industries stock is recommended by Shrekhan, with a target price of Rs 301.
The share price on September 7, 2023, was Rs 273, providing investors with a potential 11 percent return per share.
Lumax Auto
Shrekhan also advises buying Lumax Auto stock, with a target price of Rs 466.
On September 6, 2023, the share price stood at Rs 366, offering investors a potential 27 percent return per share.
Consider these stocks for your investment portfolio this festive season to potentially capitalize on these promising opportunities.
