Everyone is searching the perfect stocks to buy in July 2020 and it is right to do so as the markets in the lockdown phase have been continuing the rally amid the pandemic showing positive moves for the traders in the difficult phase of COVID-19. Nifty has surged up from its march’s low of 7,511 dated 24th March 2020 to be precise.
Here we’ve collated the top 10 stocks to buy in July 2020, which we think are the best. As you know that the month of June has turned very positive following the global cues and continuing the upward streak of the indices and gains led by the economic activities opening up in the month of June and also the Banks and Financial sectors contributing in good figures. However, The number of cases still continue to rise in the country and other foreign countries as well but despite the situation, the Sensex has gained about 24% since March 31st.
Figuring out the previous performances and tracking the current show; Here are the top 10 stocks to buy in July 2020.
1)ICICI BANK
https://www.icicibank.com/
Current Price: Rs 360.35
Target price: Rs 495.
Implied gains in the next 1 year: 27%
Effectively using its capital to generate profit – RoCE improving in last 2 years and the recent price correction offers another attractive entry point to the stock.
2) Reliance Industries
Current Price: Rs 1,878.05
Target Price: Rs 1937.
Positive returns over a year: 48.25%
The company is at its new 52-week high also with the annual net profit increasing over last 2 years. RIL has built up a dominant presence in Refining, Petrochemicals, Telecom and Retail businesses. JIO Platforms which houses the telecom business has attracted investments from marquee investors like Facebook, Silver Lake Partners, General Atlantic, KKR, etc. of Rs 1.15 lakh crore. Investments by such marquee names in Jio platforms has not only helped the company to become debt-free but also reaffirms our confidence in the management’s ability to transform the company from a brick and mortar to a digital play.
3) ITC
Current Price: Rs 194.35
Target Price: Rs 230.
The company has observed growth in quarterly net profit with increasing profit margin (Y-o-Y). The company has a cash balance of over Rs 300 Billion which will help and keep it moving in the current period.
4)Bharti Airtel
https://www.airtel.in/about-bharti/equity
Current Price: Rs 574.70
Target Price: Rs 672.
Bharti has posted strong ARPU growth in Q4FY2020 driven by tariff hikes of ~35 percent in Nov’19 by all telecom operators. Company is expected to maintain strong growth trajectory in FY2021 driven by ARPU growth and market share gains.
5) Escorts Ltd
https://www.escortsgroup.com/
Current Price: Rs 1136.60
Target Price: Rs 1150
Escorts is a prominent tractor player domestically with a market share in excess of 11 percent. With rural India relatively less impacted due to COVID-19, record food-grain procurement by government agencies as well as the expectation of normal monsoon 2020, we expect the tractor industry to outperform the larger automobile space in FY21E with Escorts a key beneficiary.
6)CCL Products
https://www.cclproducts.com/
Current Price: Rs 242.80
Target Price: Rs 267
The company is nearing the 52-week high with the net profit increasing with profit margin (Y-o-Y) and is the largest growing producer of coffee and is increasing its business rapidly over the country in the retail firm.
7)Hero Motocorp
https://www.heromotocorp.com/en-in/
Current Price: Rs 2681.25
Target: Rs 2840
Hero Moto Corp is India’s leading Motorcycle manufacturer with an overall market share of 54 percent. In FY2020 the company kept its market share intact. Entry level motorcycles in rural India are expected to post a faster rebound in sales post Covid -19 given good monsoon and shift from public transportation to personal vehicles.
8) Colgate Palmolive
https://www.colgatepalmolive.com/en-us
Current Price: Rs 1392.20
Target: Rs 1620
Colgate Palmolive is the market leader in the dental care segment with over 50 percent market share and strong brand recall. We believe 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.
9)Coromandel International
Current Price: Rs 749.00
Target price: Rs 836
10)Biocon Ltd
Current Price: Rs 414.30
Target Price: Rs 474
Us approved the Bicon-Mylan’s version of insulin glargine. The Biocon’s contract research segment (Syngene) is expected to post revenue growth in low teens while the branded formulations is expected to grow at low single-digit driven by additional capacity and entry into newer markets.
Disclaimer: The above-mentioned stocks to buy in 2020 are from personal opinions and the viewers are requested to look forward accordingly as Business Upturn does not take any responsibility of the losses that may occur in further activities of traders and buyers.