Hot Stocks: Brokerages see 20-40% upside in KNR Construction, Go Fashion and Bandhan Bank in 2023

We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

Motilal Oswal on KNR Construction: Buy| Target Rs 310| LTP Rs 247| Upside 26%
Motilal Oswal maintained its buy rating on KNR Construction with a target price of Rs 310 which translates into an upside of 26% from Rs 247 recorded on 29 December.

“The company has a strong order pipeline to tender a bright prospect. A robust open tender pipeline is likely to provide significant opportunity for KNR,” said the note.

The order book position is healthy despite weak order inflows so far, the brokerage added.

Equirus on Go Fashion: Initiate Long| Target Rs 1493| LTP Rs 1165| Upside 28%
Equirus initiated coverage on

with a Long call and a target price of Rs 1493 which translates into an upside of 28% from Rs 1165 recorded on 29 December.

Go Fashion is one of the largest players in women’s bottom wear. The domestic brokerage firm sees women’s bottom-wear to grow at a 12% CAGR over FY20-FY25E.
Superior and scalable store economics should facilitate robust growth, said the note.

Phillip Capital on Bandhan Bank: Buy| Target Rs 330| LTP Rs 236| Upside 40%
Phillip Capital initiated coverage on Bandhan Bank with a buy rating and a target price of Rs 330 which translates into an upside of 40% from Rs 236 recorded on 29 December.

Rural demand is likely to improve because of moderating consumer price inflation, sustained economic growth, expected budgetary push, and migration of the rural population back to urban areas (which would increase remittances from urban to rural India), it said.

Bandhan Bank is undergoing a transformation – both in terms of loans and geographical mix. The changes will de-risk the bank’s balance-sheet from socioeconomic shocks and provide greater visibility to its earnings, said the note.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)