Where are Nifty stocks headed?

If you are an investor in blue-chip stocks, you might be better off investing in Coal India and Cipla, and selling your holdings in Tata Steel and BHEL, if you have any. According to consensus analysts' estimates, Coal India and Cipla offer highest upside among Nifty 50 companies at around 36 per cent and 25 per cent, respectively. Upside potential is the percentage difference between consensus 12-month price target and current market price. On the contrary, share prices of Tata Steel and BHEL are currently trading around 20 per cent above their 12-month price target. Nearly, half of the Nifty companies offer an upside of 10 per cent or more if analysts' price targets are to go by. While around 10 stocks are trading above their price targets, the remaining offer upside between one per cent and less than 10 per cent.

 

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Note: Current price as on April 13; price target is consensus 12-month price target
Source: Bloomberg