The stars that helped Nifty get back its magic charm

RELIANCE INDUSTRIES

CMP: Rs 1,480.25

% Change since Mar 24: 56.95%

YTD Change: -2.24% 

DEALS OF Jio Platforms with Vista and Facebook, and the rights issue have led to the stock surging about 70% from its March 23 low of Rs 875.7. Deleveraging efforts and expectations of similar deals are likely drivers, said analysts.  

HDFC BANK

CMP: Rs 901.15

% Change since Mar 24: 17.71%

YTD Change: -29.14%

INVESTORS ARE viewing HDFC Bank as a safe bet amid the COVID-19-related disruption in the banking sector. “While there is a high level of uncertainty, which may force investors to sell the bank’s stock on every rally, we believe HDFC Bank will come out strongly post the lockdown,” say experts. The brokerage had maintained a buy rating on the stock while lowering the target price to Rs 1,100 from Rs 1,565

HDFC

CMP: Rs 1,674.75 

% Change since Mar 24: 11.5%

YTD Change: -30.6%

“AT THIS point, the market is looking at stocks that are expected to have lesser impact from lockdown. For BFSI, growth and credit cost/asset quality is a big challenge,” says experts, “Those concerns are perceptibly lesser with (HDFC twins) because of the quality of clients, strong business model, stability of borrower profile and healthy capitalisation” they say.

INFOSYS

CMP: Rs 687.75

% Change since Mar 24: 15.87%

YTD Change: -6%

ANALYSTS SAID headline numbers disappointed in the March quarter but internals were better. “Even as we expect near-term challenges, Infosys is well-positioned to weather the storm, gain share in a recessionary environment and outperform on profitability management,” says experts which has a ‘buy’ rating with a target price of Rs 700.

BHARTI AIRTEL

CMP: Rs 559.65

% Change since Mar 24: 38.5%

YTD Change: 22.8%

IN AN an environment where businesses are shut, telcos like Bharti have seen growth, particularly in data, said analysts. “Tariff hikes of December have remained intact. Investors expect impact of that to be reflected in March and June quarters,” says experts. The brokerage has a ‘buy’ rating with a target of Rs 580.