Jefferies' top Indian stocks over next 5 years

Max Healthcare Institute

18/03/2024 09:39

** Analysts at Jefferies say over the next four years, India's GDP will likely touch $5 trillion
    ** Consistent and fast growing domestic flows will likely complement FPI inflows to sustain
Indian market performance in the coming years - Jefferies
    ** Brokerage name 11 stocks which are likely to deliver 15%-25% CAGR returns over the next five
years
    ** Below is the list of Jefferies' picks:
   
 Stock                     Jefferies' expectation for next five years                Fiscal-24
                                                                                     performance so
                                                                                     far
 Amber Enterprises         Core competency in air conditioners and support from the  +85% 
  AMBE.NS                  production linked incentive scheme to drive earnings      
                           growth                                                    
 Ambuja Cement  ABUJ.NS    Strong cement demand from capex upcycle to drive          +59% 
                           profitability                                             
 Axis Bank  AXBK.NS        Earnings per share expected to rise as co leverages       +24%
                           improvement in deposits                                   
 Bharti Airtel  BRTI.NS    Moderating capex to drive growth                          +64%
 JSW Energy  JSWE.NS       3x jump in power capacity to drive earnings               +104%
 Larsen and Toubro         Recovery in capex cycle, improved execution and market    +65%
  LART.NS                  share gains to boost revenue growth                       
 Macrotech Developers      Strong housing cycle to drive pre-sales growth            +130%
  MACE.NS                                                                            
 Max Healthcare  MAXE.NS   Underpentration in quality healthcare, doubling of bed    +66%
                           capacity drive profitability                              
 State bank of India       13% loan growth to drive earnings growth                  +40%
  SBI.NS                                                                             
 TVS Motor  TVSM.NS        Rising demand, transition to electric vehicles to drive   +88%
                           volume growth and earnings                                
 Zomato  ZOMT.NS           Low penetration levels in core segments to offer a long   +213%
                           runway to growth                                          
 

 (Reporting by Nishit Navin)
 ((nishit.navin@thomsonreuters.com;))