Along with Coal India and HAL, these 5 stocks will deliver strong returns, Jefferies gives Buy rating

New Delhi. The stock market has witnessed a sharp fall in the last two months. In this month i.e. November, the market is also in the grip of recession. Everyone investing in the market is worried because of the correction in the market. Everyone is looking for stocks that can give them good returns. Brokerage firm Jefferies advises investors to invest in five stocks. The brokerage says that these shares will rise significantly in the future.

The 5 stocks on which Jefferies has now started coverage include state-owned Hindustan Aeronautics (HAL), Punjab National Bank (PNB), Coal India, Godrej Consumer Products and IndiGo. The brokerage says that currently the valuation of these stocks has become quite attractive.

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Coal India
Jefferies advises investors to invest in coal giant Coal India. Shares of Coal India are trading 25 percent below their 52-week highs, to deliver huge dividends to shareholders. Its current market price is Rs.410. Jefferies has set a target price of Rs 570 for this stock.

Hindustan Aeronautics Limited
Jefferies is also bullish on PSU defense stock Hindustan Aeronautics Ltd (HAL) and has advised investors to buy the stock. Currently, the stock is trading at Rs 4087 and is trading 28% below its 52-week high. Jefferies has set a target price of Rs 5,725 on HAL shares.

Indigo
According to Jefferies, shares of the country’s low-cost airline IndiGo could also give investors good returns in the near future. The stock is currently trading 23 percent below its 52-week high, the brokerage said. The current market price of indigo is Rs 3890. The brokerage has set its target price at Rs 5,100.

Godrej Consumer Products
Godrej Consumer Products is currently trading at Rs.1175. The stock is now 24% below its all-time high. Jefferies says the stock has the potential to yield 17 percent in the near future.

Punjab National Bank
The current market price of state-owned bank Punjab National Bank is Rs.99. It is currently trading 31% below its 52-week high. Jefferies has set a target price of Rs 135 on PNB shares.

(Disclaimer: The stock mentioned here is based on the advice of the brokerage houses. If you want to invest in any of them, consult a certified investment advisor first. News 18 of any profit or loss you make. will not be responsible).

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