INDIA: KRChoksey’s has unveiled its stock hotlist for January 2023. After a solid start to the year 2023, the market saw volatile trade on January 3, but it still managed to conclude positively with the Nifty above 18,200.
KRChoksey, a domestic brokerage firm, has listed its top six favourite stocks for January 2023 as profitable investments, and stocks are once again sought by investors.
KRChoksey’s top chart picks for January 2023 are listed below
Ashok Leyland
The brokerage firm has suggested buying Ashok Leyland shares at the target price of Rs 194, which is an upside of about 31.7 percent from the current market value. The company’s growth will be enhanced by favourable industry conditions, an improvement in profitability, and growth in the market said the brokerage firm.
Axis Bank
KRChoksey, the brokerage firm, has a buy rating on Axis Bank’s shares with a target price of Rs 1,120, holding an upside of about 16.4 percent over the current market value. With strong growth momentum, the outlook for the bank looks positive, the brokerage firm stated.
SBI Life Insurance Company
As per the KRChoksey, SBI Life Insurance Company has a buy rating with a target price of Rs 1,550 and an upside of about 22.3 percent from the current market price. The insurance company is currently in a good position to take advantage of the growth in the industry, the brokerage firm said.
Reliance Industries
Reliance Industries, which has a buy rating and a target price of Rs 3,076, has a potential gain of almost 20.3% over its present market value, according to the brokerage firm, which also noted that Reliance Retail recently purchased 100% of Metro India and also launched Jio Financial Services (JFS).
Britannia Industries
Britannia Industries holds an accumulated rating with a target price of Rs 4,829, which is an upside of around 13.6 percent in comparison to the current market price, as per KRChoksey, the brokerage firm, which also mentioned the company’s growth in sales and market shares despite a weak macro environment.
Maruti Suzuki India
With a buy rating, Maruti Suzuki India has a target price of Rs 11,158, with an upside of about 33 percent from the current market value. As per KRChoksey, the demand for the company will remain strong with the gradual increase of supplies.
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