Here are top 10 stock picks by Angel Broking for today

SUMMARY

The Indian benchmark indices Sensex and Nifty were trading around 3-month higher Wednesday led by gains in banking, financial, metal and FMCG stocks. Nifty reclaimed 10,100 levels while Sensex gained over 400 points. Here are top 10 calls from Angel Broking for today. (Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.)

By Ankit Gohel Jun 3, 2020 1:40:02 PM IST (Published)

Bharti Airtel | Accumulate | TP: Rs 629 | Angel Broking said that there is a possibility of another round of tariff hikes by telecom companies in FY21 given that tariffs are still very low. If Vodafone Idea goes out of business, Bharti would benefit significantly from the addition of subscribers.

Infosys | Buy | TP: Rs 841 | The brokerage expects Infosys to report above industry average growth rates on the back of strong deal wins which will drive topline growth.

Reliance Industries | Accumulate | TP: Rs 1,748 | The brokerage expects RIL’s telecom business to witness robust growth over next few years due to tariff hikes and shift of subscribers from Vodafone Idea to other telecom players. (Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)

Hindustan Unilever | Accumulate | TP: Rs 2,364 | Going forward, the brokerage expects HUL to report healthy bottom-line growth due to healthy volume growth on the back of strong brand, wide distribution network.

HDFC Ltd | Accumulate | TP: Rs 2,000 | HDFC Ltd is able to raise fund at competitive rate owing to strong operating metrics, experienced Management and industry’s best credit rating. HDFC Ltd is trading (Core Banking Business – 1.42x FY22ABV) at a significant discount to historical average valuations and offers favorable risk reward from current levels given global tailwinds, the brokerage said.

ICICI Bank | Buy | TP: Rs 410 | ICICI Bank is clearly better positioned in the liability side, the brokerage said.

Nestle India | Buy | TP: 20,687 | Angel Broking expects healthy growth and profitability on the back of strong brand recall, wide distribution network (4.6 million outlets across India) and new product launches.

Colgate-Palmolive India | Buy | TP: Rs 1,620 | The brokerage believes that the company should ultimately be able to see sharper market share gain in the toothpaste segment on the back of higher ad-spend and re-launch of Colgate Strong Teeth.

Avenue Supermarts | Accumulate | TP: Rs 2,735 | Expect DMART to report consolidated revenue/PAT CAGR of 18 percent/26 percent, respectively over FY2019-22E, the brokerage said.

Britannia Industries | Accumulate | TP: Rs 3,780 | Britannia has an overall distribution reach of 5.5 million outlets. The gap with the largest distributed brand is now just 0.8 million outlets which it expects to bridge soon and thereby become the largest player over the medium to long term, Angel Broking said.