Many small- and mid-cap stocks are reeling under the sell-off in recent weeks, but analysts think there is still scope for upside in some of them. About 120 stocks tracked by at least five analysts have seen their one-year price targets upgraded by 15%-60% since October 1.
According to Bloomberg consensus estimates, stocks such as Greaves Cotton, IRB Infra, Century Plyboards, Sobha, Brigade Enterprises, Indian Hotels, Ramkrishna Forgings and Avanti Feeds, among others, have seen raising price targets by 35- 60%.
For instance, Greaves Cotton, a diversifi ed engineering company, has seen his target price revised 60% to Rs 166.40 since October 1 as analysts believe market share gain and distribution expansion continue to aid overall growth. Similarly, IRB Infra, which raised Rs 5,300 crore recently through preferential issues, is another stock that saw sharp upgrades.
According to analysts, IRB can bid for large projects independently with a self-sustaining InvIT portfolio to churn assets and vast in-house execution record. Based on Bloomberg consensus estimates, ET has compiled a list of 20 mid- and small-cap stocks that have seen more than a 22% increase in price targets and could return 15-60% in one year.
