See below the Brokerage recommendations on Best Stocks to buy in India for profits in 2020
2019 has been a year of large caps and experts believe that we can see a good rally in midcap and small cap quality stocks in 2020.
In Dec, various brokerage houses has provided their recommendations for stock picking for 2020. I have tried to consolidate the recommendations for your benefit:
Jan 2 2020 – 15 Stocks where brokerages initiated coverage (link)
| Brokerage | Stock | Target | CMP | Upside |
| Anand Rathi | Dixon Technologies | 5822 | 3913 | 49% |
| KR Choksey | Bandhan Bank: | 667 | 499 | 34% |
| Haitong Securities | Finolex Industries | 700 | 550 | 27% |
| Reliance Securities | V-Mart Retail | 2060 | 1664 | 24% |
| Jefferies | IndiaMart | 2500 | 2047 | 22% |
| Anand Rathi | Varun Beverages | 862 | 707 | 22% |
| Spark Capital | Polycab India | 1173 | 977 | 20% |
| Anand Rathi | Relaxo | 744 | 622 | 20% |
| ICICI Securities | Spandana Sphoorty | 1400 | 1181 | 19% |
| Axis Securities | KEC International: | 367 | 310 | 18% |
| Ambit | Motherson Sumi Sytstems | 176 | 149 | 18% |
| Axis Securities | Embassy Office Parks REIT | 495 | 422 | 17% |
| ICICI Securities | DB Corp | 155 | 135 | 15% |
| ICICI Securities | Entertainment Network | 300 | 265 | 13% |
| IDBI Capital | Jubilant Foodworks | 1836 | 1687 | 9% |
Jan 2 2020 – 10 Stocks ion focus – may benefit from Govt’s ambitious infra spend of Rs 100 lakh crores (link)
Jan 2, 2020 – Hemang Jani, Head– Advisory, Sharekhan – 6 stocks that can give 50% return in 2020 (link)
- Vinati Organics,
- Varun Beverages,
- Trent,
- Aarti Industries,
- Bajaj Holdings and
- V-Guard Industries.
Jan 2, 2020 – 17 quality stocks that can give 10-38% return in 2020 (link)
| Brokerage | Stock | Target | CMP | Upside |
| Nirmal Bang | Ashok Leyland | 92 | 84 | 10% |
| Eicher Motors | 24843 | 21600 | 15% | |
| Solar Industries | 1315 | 1115 | 18% | |
| Gujarat State Petronet | 303 | 232 | 31% | |
| Petronet LNG | 336 | 269 | 25% | |
| HUL | 2490 | 1941 | 28% | |
| Marico | 425 | 337 | 26% | |
| Inox Liesure | 450 | 379 | 19% | |
| V Mart retail | 2283 | 1664 | 37% | |
| Natco pharma | 747 | 620 | 20% | |
| Sun Pharma | 517 | 435 | 19% | |
| Motilal Oswal | Ultratech Cement | 5050 | 4244 | 19% |
| Globe Capital | Bharat Dynamics | 340 | 306 | 11% |
| DCB Bank | 210 | 183 | 15% | |
| HCL Technologies | 725 | 574 | 26% | |
| L&T | 1595 | 1345 | 19% | |
| Mahindra & Mahindra | 750 | 540 | 39% |
Jan 1, 2020 – Experts list 20 stocks for 2020 that could generate wealth (link)
| Brokerage | Stock |
| CapitalVia | Dabur India |
| Manappuram Finance | |
| ICICI Securities | |
| Affle India | |
| Adani Enterprises | |
| KIFS Trade | Bharat Electronics |
| Wipro | |
| SBI | |
| Jubilant Foodworks | |
| HDFC Bank | |
| SMC Investments | ICICI Bank |
| Gujarat Gas | |
| JB Chemicals & Pharmaceuticals | |
| Inox Leisure | |
| KEC International | |
| Geojit Financial | SBI Life |
| Religare | L&T |
| Britannia Industries | |
| Reliance Nippon Life AMC |
Stocks for 2020 (CNBC Experts on 30-Dec)
- Axis Bank
- Godrej Consumer Products
- HDFC life
- IRCTC
Moneycontrol’s “GOOD NEWS” stocks where you can expect good news in 2020 and are worth considering for investments:
- PVR
- RK Forging
- TATA STEEL
- SIS SECURITIES
- TIMKEN INDIA
Moneycontrol’s “SANTA” stocks where you can expect good triggers in 2020 and are worth considering for investments: (
- IRCTC
- L&T
- BPCL
7 stocks that have potential to rally
| Brokerage | Stocks | Upside |
| Axis Sec | L&T | 37% |
| SMC Global | KEC International | 33% |
| Religare Broking | Gujarat Gas | 22% |
| Nirmal Bang | HUL | 28% |
| SMC Global | ICICI Bank | 21% |
| Nirmal Bang | Gujarat State Petronet | 41% |
| Motial Oswal | UltraTech Cement | 24% |
JM Financial is bullish on Pharma for 2020
- Alembic, Torrent, Cipla, Natco and Sanofi are the top buys.
Motilal Oswal’s preferred sectors for 2020:
- Banking (ICICI Bank, Axis Bank, State Bank of India);
- fast-moving consumer goods (Hindustan Unilever and Colgate Palmolive);
- Cement and Capital goods (Larsen & Toubro, ABB, Siemens, Ultratech and JK Cement);
- Insurance (HDFC Life and ICICI Prudential Life) and
- hospitality (Indian Hotels)
Geojit Financial is bullish on:
- HDFC Bank, SBI Life Insurance, Aarti Industries
IndiaNivesh likes following stocks:
| Target | CMP | Upside | |
| ITC | 310 | 238 | 30% |
| Hindalco | 250 | 218 | 15% |
| Dr Reddys | 3370 | 2883 | 17% |
| Escorts | 810 | 631 | 28% |
CitiBank Top Picks for 2020
- The brokerage is ‘overweight’ on financials, healthcare, and industrials, and ‘underweight’ on consumer staples and auto space.
- Top large-cap picks of Citi include HCL Tech, HDFC Bank, ICICI Bank, IndusInd Bank, L&T, Maruti, Petronet LNG, SBI Life, and UltraTech Cement.
- Among midcaps, it prefers, ACC, Apollo Hospitals, Biocon, Indraprastha Gas, JSW Energy, JustDial, L&T Infotech, L&T Finance Holdings, Phoenix Mills, Polycab India, and SRF.
UBS Top Picks for 2020
- ‘overweight’ on financials, property, oil & gas, power utilities, life insurance, and telecom.
- ‘neutral’ on consumer staples, consumer discretionary, metals, pharma, cement, and industrials.
- ‘underweight’ on auto, IT services, and small and midcaps space.
Morgan Stanley’s focus list for 2020
- includes Bajaj Auto, M&M, Maruti Suzuki, Motherson Sumi, Indian Hotels, Jubilant FoodWorks, ITC, United Spirits, RIL, DLF, HDFC, HDFC Bank, ICICI Bank, M&M Financial, MCX, Shriram Transport, Ashok Leyland, InterGlobe Aviation, L&T, and Gujarat Gas.
- It has increased weightage in consumer discretionary, industrials, and financials and reduced weight on technology, healthcare, and materials.
Credit Suisse Top picks for 2020
- ‘overweight’ on financials like SBI, ICICI Bank, ICICI Life.
- In telecom, it likes Bharti Airtel,
- in utilities PowerGrid, and Tata Steel among metal stocks.
- minor ‘overweight’ on pharma (Dr. Reddy’s, Lupin) and IT (Tech Mahindra), and
- ‘underweight’ on discretionary, cement, and industrials.
Escorts Securities, Research Head-Aasif Iqbal: Top 20 Stocks to buy at CMP:
| Target | CMP | Upside | |
| Larsen & Toubro (L&T) | 1700 | 1302 | 31% |
| Reliance Industries | 2100 | 1544 | 36% |
| Biocon | 400 | 292 | 37% |
| Satia Industries | 140 | 82 | 71% |
| Syngene International | 410 | 322 | 27% |
| Info Edge | 3100 | 2543 | 22% |
| Affle (India) Limited | 1800 | 1614 | 12% |
| Lal Path Lab | 2100 | 1488 | 41% |
| ACC | 1750 | 1452 | 21% |
| Kansai Nerolac Paints | 650 | 508 | 28% |
| NIIT Tech | 1700 | 1584 | 7% |
| HDFC Life Insurance | 750 | 636 | 18% |
| Bharti Airtel | 610 | 460 | 33% |
| RITES Ltd | 370 | 290 | 28% |
| IRCTC | 1100 | 927 | 19% |
| Reliance Nippon Life | 450 | 363 | 24% |
| Apollo Hospitals | 1800 | 1419 | 27% |
| United Breweries | 1500 | 1280 | 17% |
| United spirits Limited | 730 | 592 | 23% |
| Sun Pharma | 550 | 430 | 28% |
HDFC Securities – Top Picks for 2020:
| Target | CMP | Upside | |
| Axis bank | 1100 | 756 | 46% |
| ICICI Bank | 800 | 544 | 47% |
| APL Apollo Tubes | 2700 | 1840 | 47% |
HDFC Securities’ 2020 outlook for major sectors and stock ideas (link)
- Financials: Axis bank and SBI
- Technology: Inforsys, Mphasis, L&T Infotech and Sonata Software
- Automobile: Bajaj Auto, Hero Moto
- Consumer: Voltas, Symphony, Jubilant Foods
- Oil & Gas: Gujarat Gas
- Cement: Ultratech Cement, Dalmia Bharat, Birla Corp, JK Cement
- Healthcare: Torrent Pharma, Cipla
- Industrials: L&T, KNR Constructions, PNC Infratech, KEC International
Axis Securities – 7 Stock Ideas for 2020 (link)
| Target | CMP | Upside | |
| Reliance Industries | 1711 | 1563 | 9% |
| L&T | 1736 | 1264 | 37% |
| Cholamandalam Inv & Fin | 387 | 303 | 28% |
| Minda Industries | 410 | 341 | 20% |
| KEC International | 367 | 277 | 32% |
| SIS India | 1100 | 909 | 21% |
| Mold Tek Pachaging | 351 | 272 | 29% |
Nirmal Bang Picks for 2020
| Target | CMP | Upside | |
| Ashok Leyland | 92 | 82 | 12% |
| Eicher Motors | 24843 | 22829 | 9% |
| City Union Bank | 250 | 235 | 6% |
| ICICI Bank | 584 | 544 | 7% |
| Hindustan Lever | 2490 | 1937 | 29% |
| Marico | 425 | 343 | 24% |
| Natco Pharma | 747 | 585 | 28% |
| Sun Pharma | 517 | 430 | 20% |
| Phoenix Mills | 900 | 835 | 8% |
Religare Broking top picks for 2020
| Target | CMP | Upside | |
| Bajaj Auto | 3723 | 3258 | 14% |
| Britannia | 3632 | 3047 | 19% |
| Coromandel International | 624 | 525 | 19% |
| Crompton Greaves Consumer | 299 | 241 | 24% |
| Gujarat Gas | 273 | 229 | 19% |
| INOX Liesure | 464 | 384 | 21% |
| L&T | 1618 | 1302 | 24% |
| Reliance Nippon Life | 419 | 363 | 15% |
| Tech Mahindra | 939 | 782 | 20% |
| The RAMCO cement | 902 | 759 | 19% |
Antique Research like “MNC” stocks for 2020 (link)
| Stocks | Target | CMP | 2 year Upside |
| Hindutan Lever | 1937 | 14-37% | |
| Nestle India | 14867 | 30-44% | |
| Siemens | 1518 | 32-46% | |
| Colgate Pamolive | 1466 | 16-32% | |
| Procter and Gamble | 11507 | 35-37% | |
| ABB India | 1300 | 44-68% | |
| Whirlpool | 2386 | 21-44% | |
| GlaxoSmithKline Pharma | 1611 | 35-44% | |
| Abbott India | 13196 | 18-44% | |
| Honeywell Automation | 27186 | 56-70% |
ShareKhan’s Top Value Picks (link)
| Target | CMP | Upside | |
| Aarti Industries | 976 | 771 | 27% |
| Bharat Electronics | 140 | 100 | 40% |
| Exide Industries | 241 | 186 | 30% |
| IPCA Lab | 1220 | 1133 | 8% |
| Kalpataru Power | 590 | 422 | 40% |
| KNR Constructions | 293 | 246 | 19% |
| L&T Finance Holdings | 120 | 116 | 3% |
ShareKhan’s Top Earning Compounders (link)
| Target | CMP | Upside | |
| Astral Poly | 1358 | 1168 | 16% |
| Biocon | 290 | 293 | -1% |
| Mahanagar Gas | 1155 | 1045 | 11% |
| Relaxo | 650 | 610 | 7% |
| Spandana Sphoorty | 1340 | 1192 | 12% |
| Trent | 650 | 505 | 29% |
| Varun Beverages | 872 | 700 | 25% |
| V-Guard Industries | 285 | 218 | 31% |
| Vinati Organics | 2361 | 1960 | 20% |
For previous recommendations, please see the previous pages below