Suryaa Business Desk: In anticipation of Samvat 2083 Diwali, brokerage firm Axis Securities has released its special stock recommendations. The firm focused on selecting large-cap and quality mid-cap stocks with strong technical chart patterns and growth potential amid ongoing market volatility.
Axis Securities has issued "buy" ratings for Hindustan Aeronautics Limited (HAL), Kotak Mahindra Bank, Tech Mahindra, and Sona BLW Precision Forgings.
Regarding Tech Mahindra, the brokerage noted that the stock formed a base at the support level of ₹980–₹1,000 following a correction on monthly charts. With bullish momentum and volume support, the firm estimates the stock could reach levels between ₹2,100 and ₹2,350 in the long term.
For Sona BLW Precision, the firm observed that the stock surpassed the breakout zone of ₹750–₹760 after establishing a base at ₹400. With the stock stabilizing at pullback support levels, Axis Securities projects targets between ₹965 and ₹1,070.
Hindustan Aeronautics Limited is described as being in a long-term uptrend, supported by domestic defense sector growth and an order book. Following technical corrections, the brokerage expects a potential rally of 20 to 30 percent.
Kotak Mahindra Bank is emerging from a long-term consolidation range with support at ₹370–₹390. The analysis suggests a potential gain of 20 to 29 percent from these levels.
Axis Securities advised investors that returns in the upcoming Samvat 2083 will depend on selecting quality companies with reasonable valuations, improved operating profits, and strong balance sheets. The firm cautioned investors to avoid speculative stocks with high valuations and to maintain disciplined investments in businesses with strong fundamentals.
