SUMMARY
PSU Stocks To Buy: Both REC and PFC were recently upgraded by CLSA, while analysts are recently turning positive on HAL again. Here are some other stocks in the list.
1 / 7The Nifty PSE index has corrected more than 25% from the time it made a peak in August 2024. The index has seen some recovery from their lows as at one point, it was down over 30% from the top. Currently, all index constituents are trading with losses if returns are mapped from August 1, 2024 onwards. Barring one stock, a consensus estimate of analysts sees potential upside in all of the PSE index constituents. Here is a look at the names which have the highest upside potential:
2 / 7Oil India | The state-run upstream oil explorer has had a few negative developments off late due to the persistent decline in crude oil prices, which is neither positive for the company, nor for its peer ONGC. Currently, the stock is down 51% from its peak. Out of the 19 analysts that have coverage on the stock, 15 of them have a “buy” rating, while two analysts each have a “hold” and “sell” rating. Consensus estimates project a potential upside of 54% on the stock, with Investec having the highest price target of ₹750, marginally below its all-time high.
3 / 7REC | Another stock which has a potential upside of over 50%, REC is a consensus “buy”, with all 12 analysts covering the company having a “buy” rating. Consensus expects a potential upside of 51%, which is down close to 40% from its peak. The stock was also recently added to CLSA’s list of high-conviction outperformers.
4 / 7HAL | Brokerages are turning positive again on Hindustan Aeronautics (HAL) as its recent issues are on the verge of ending, according to most analysts. Similar to REC, HAL shares are also down 39% from their peak. HAL is a near-consensus “buy” with 15 out of the 16 analysts covering the stock being bullish. Only ICICI Securities has a “sell” rating on the stock. Consensus is projecting a potential upside of 42% on the stock.
5 / 7PFC | Similar to REC, PFC too is a consensus “buy” with all 12 analysts having a “buy” rating the stock. Consensus is projecting a 39% upside on the stock. PFC too was added by CLSA to its high-conviction outperformers list.
6 / 7GAIL | GAIL shares have corrected 36% from their recent peak. 27 out of the 35 analysts who have coverage on the stock still have a “buy” rating, five say “hold”, while three have a “sell” rating on the stock. Consensus is projecting a potential upside of 37% on the stock.
7 / 7Among other stocks who have a potential upside of over 30% from current levels, include Container Corporation (CONCOR) at 32% and ONGC, at 31%.
