Top Stock Picks for May: Potential Returns of Up to 15%
Technical stock picks! 3 shares that could give up to 15% return this May. Do you own any?
The Economic Times
Image: The Economic Times
The Nifty index has rebounded from a crucial support zone, prompting analysts to recommend a buy-on-dips strategy. Key stock picks include KEI Industries, Grasim Industries, and Biocon, with expected returns ranging from 11.4% to 15% this May.
- 01Nifty index shows bullish trend after recent downtrend.
- 02KEI Industries has a target upside of 13.5%.
- 03Grasim Industries is projected to offer a 15% return.
- 04Biocon's expected upside is 11.4% despite recent profit decline.
- 05Investors are advised to monitor support levels closely.
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The Nifty index has experienced a bounce-back rally after a four-month downtrend, reflecting positive market sentiment. Analysts suggest a buy-on-dips strategy, as the index has found support in the 22,500-22,300 range. The short-term trend appears bullish, with targets set between 24,600 and 25,300. Key stock picks include KEI Industries, currently priced at ₹4,987, with a target of ₹5,665-5,430, representing a potential upside of 13.5%. The company reported a 25.5% increase in Q4 net profit to ₹284 crore. Another recommendation is Grasim Industries, priced at ₹2,901, which could provide a 15% return with a target of ₹3,186-3,329. Lastly, Biocon, priced at ₹402, has a target of ₹427-448, indicating an upside of 11.4%, despite a 63% drop in its Q4 net profit to ₹126 crore due to exceptional charges.
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Investors could benefit from potential stock gains, influencing their investment strategies and portfolio management.
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