Stocks to buy: 6 stocks to watch out for an upside of up to 29%

Stock: Saregama India
Research House: Emkay
Advice: Buy
Stock Price: Rs 372
1-year Target Price: Rs 465
Potential Upside: 25%
Comment: Initiate with ‘buy’ due to ramping up of non-music segments, growing digital revenue and ramp-up of paid subscribers. The acquisition of Pocket Aces will help it to exploit opportunities in the fast growing digital media segment.

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Stock: Jio Financial Services
Research House: KR Choksey
Advice: Buy
Stock Price: Rs 235
1-year Target Price: Rs 290
Potential Upside: 23.4%
Comment: Initiate with ‘buy’ due to its plans to increase financial services penetration, strong brand equity, healthy capital base, likely ramp-up in the product pipeline and focus on improving user engagement.

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Stock: Ahluwalia Contracts
Research House: SMIFS
Advice: Buy
Stock Price: Rs 787
1-year Target Price: Rs 958
Potential Upside: 21.7%
Comment: Initiate with ‘buy’ due to its strong order backlog, diversified presence, operational efficiency and acquisition of new projects. Healthy working capital and strong return ratios are the other positives.

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Stock: Global Health (Medanta)
Research House: Motilal Oswal
Advice: Buy
Stock Price: Rs 990
1-year Target Price: Rs 1,170
Potential Upside: 18.2%
Comment: Reiterate ‘buy’ due to faster scale-up of existing hospitals, additional business from new hospitals, aggressive bed expansion and better operational efficiency across mature as well as developing hospitals.

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Stock: MOIL
Research House: Antique Stock Broking
Advice: Buy
Stock Price: Rs 309
1-year Target Price: Rs 365
Potential Upside: 18.1%
Comment: Maintain ‘buy’ due to likely jump in manganese ore demand in India, price support due to global supply tightness, capacity expansion, strong cash reserves and likely jump in margins.

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