Brokerages See 14-34% Upside in M&M, Bajaj Finance, Others

Brokerages have turned positive on a diverse set of stocks spanning automobiles, financial services, hospitality and consumer discretionary, citing strong earnings visibility and improving business fundamentals.

HDFC Securities added Mahindra & Mahindra with a target of Rs 4,087, implying 24% upside from the last closing price of Rs 3,278. Elara Securities recommended accumulating Westlife Foodworld at Rs 487 for a 14% gain to Rs 555. Motilal Oswal upgraded Bajaj Finance to buy with a Rs 1,300 target, 23% above its close of Rs 1,054. The same brokerage reiterated a buy on Hyundai Motor at Rs 2,018 for a 16% return to Rs 2,334. Elara also maintained a buy on Chalet Hotels at Rs 805, targeting Rs 1,081 for the highest potential upside of 34%.

Chalet Hotels carries the highest upside among the five picks.