Brokerages Award 'Buy' Ratings to Niva Bupa, HAL, and Other Top Growth Picks

Mumbai – A number of prominent brokerage houses have begun covering a new set of companies, awarding all of them a 'Buy' rating. The stocks are Niva Bupa Health Insurance, Hindustan Aeronautics (HAL), MTAR Technologies, Aadhar Housing Finance, Shaily Engineering Plastics, Ajax Engineering, Hitachi Energy India, Deepak Builders & Engineers, and SRM Contractors.

Brokerages such as ICICI Direct, ICICI Securities, Dalal & Broacha, Motilal Oswal, Nuvama, Phillip Capital, and Khandwala Securities have published their initial detailed reports on these firms. Experts feel that these stocks can give good returns, with some of them having an upside potential of as much as 340%.

ICICI Securities on Niva Bupa Health Insurance

Recommendation: Buy

Target Price: ₹90

Potential Upside: 19%

As per ICICI Securities, Niva Bupa has demonstrated strong growth in its health insurance segment. With increased individuals purchasing its policies and improved management of its investments, the company is likely to enhance profits in the future years.

The report further says that Niva Bupa will continue to see strong performance, particularly as it distributes through so many different channels and has managed its pricing. ICICI Securities also discusses how various accounting practices reveal the company's long-term earnings more vividly, making it easier for investors to comprehend how its business choices will reap rewards in the long run.