Stocks to Buy for the Long Term: Domestic equity indexes suffered heavy losses in the holiday-shortened trading week from Sept. 30 to Oct. 4, with losses of 1 percent or more in 3 of 4 trading periods, as investors around the world weighed incoming headlines from the Middle East afterward . Iran launched a ballistic missile attack on Israel. The Sensex lost 3,883.4 points, or 4.5 percent, while the Nifty50 shed 1,164.4 points, or 4.4 percent, for the week. All sectoral indices suffered across the market with financial stocks, energy, autos, and real estate being the worst hit.
At current levels, both indexes are down about 5.0 percent from their all-time highs on September 27 (Friday).
Are there long-term buying opportunities to tap the correction on Dalal Street now?
Here are 12 stocks from a diverse set of business areas—including large and mid-cap segments—that analysts are betting on from a long-term perspective:
Largecap Long Term Stock Outlook | ICICI Prudential Life Insurance Company
Sharekhan has a ‘buy’ rating assigned to the private sector life insurance stock with a target price of Rs 920.
As of October 4, the target implies a potential upside of 21.5 percent for the stock at its current market price.
Largecap Long Term Stock Outlook | Coal India Ltd (CIL)
Emkay has a ‘buy’ rating on Coal India with a target price of Rs 600, suggesting a 20.7 percent upside from current levels.
Largecap Long Term Stock Outlook | Petronet LNG
Emkay has a ‘buy’ call on Petronet LNG with a price target of Rs 425.
Largecap Long Term Stock Outlook | Jindal Steel & Power Ltd (JSPL)
Motilal Oswal Financial Services has a ‘buy’ rating assigned to JSPL.
MOFSL’s target price, for the stock, stands at Rs 1,200.
Largecap Long Term Stock Outlook | ICIC Bank
Axis Securities has ICICI Bank among its top picks for October 2024.
The brokerage has a target price of Rs 1,425 assigned to the private sector banking stock.
The target means a 15 percent rise in ICICI Bank shares.
Largecap Long Term Stock Outlook | Nestle India
Axis Securities has Nestle India among its top picks for the month, with a price target of Rs 2,960.
Largecap Long Term Stock Outlook | Prestige Estates Projects
Axis Securities has the real estate developer’s stock among its top picks for October 2024. It has a target of Rs 2,195 assigned to the PRESTIGE stock.
Midcap Long-term Stock Idea | JKumar Infraprojects
Axis Securities also has JKumar Infraprojets among its top picks for the month, with a price target of Rs 950 suggesting upside of 27 percent.
Largecap Long Term Stock Outlook | Kalpataru Projects International Ltd (KPIL)
Sharekhan has a ‘buy’ rating assigned to Kalpataru Projects International with a target price of Rs 1,570.
Sharekhan’s target suggests upside of 15.6 percent.
Largecap Long Term Stock Outlook | IPCA Labs
Sharekhan has a ‘buy’ rating given by IPCA Labs with a target of Rs 1,734.
Midcap Long-term Stock Idea | Nazareth Tech
Prabhudas Lilladhar has a ‘buy’ rating assigned to Nazara Technologies with a price target that suggests a 23.6 percent upside to the stock from its current level.
IPCA Labs’ brokerage target stands at Rs 1,185.
Midcap Long-term Stock Idea | Thangamayil Jewellery
HDFC Securities has a ‘buy’ call on Thangamayil Jewelery with a price target of Rs 2,550.
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