Diwali 2021 picks: Here are Angel One's top stock recommendations

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As part of its Diwali 2021 stock picks, domestic brokerage and research firm Angel One (earlier Angel Broking) has recommended sixteen stocks that one can look to buy. Its top picks includes Ashok Leyland, PI Industries, HDFC Bank, Federal Bank, Sobha, Stove Kraft, Safari Industries, AU Small Finance among others.

Angel One’s stock picks under autos include Ashok Leyland with a target price of 175, Sona BLW Precis. (target price 775), Ramkrishna Forgings (TP 1,545), and Suprajit Engineering (TP 425).

Under banking, its stock recommendations are AU Small Finance with a target price of 1,520, Federal Bank (target price 135), HDFC Bank (TP 1,859), Shriram City Union (TP 3,002). Meanwhile, PI Industries is Angel One’s top pick in the chemical space and has a target price of 3,950 on the stock.

The brokerage’s other stock picks are Carborundum Universal (TP 1,010), Stove Kraft ( TP 1,288), Safari Industries (TP 979), Sobha (TP 950), Whirlpool India (TP 2,760), Lemon Tree Hotel (TP 64), and Amber Enterprises with a target price of 4,150 per share.

“We expect the banking sector to lead the markets from here on given the strong rebound in earnings in H2FY2022 due to the pick up in AUM growth and decline in provisioning. We also expect sectors like aviation, consumer durables, hotels, multiplexes, and real estate to do well on the back of strong earnings growth in H2FY2022 due to further reopening of the economy and pent-up demand,” Angel One’s note stated.

Though, it sees a bigger than expected third Covid wave in India which impacts the recovery process, and further increase in global inflation from current levels forcing central banks to tighten earlier than expected as key risks for the markets.

The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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