Many stocks erase selloff losses, in line for big upsides

Mumbai: Nearly one-fourth of stocks with a market capitalisation of over ₹1,000 crore in March have recouped all their losses posted between October 1 and February 28. According to an ET study, 331 out of the 1,415 stocks, have recovered their losses or are even trading above their levels on October 1- around the time the sell-off in the Indian market started.

Since March 1, 127 stocks in this list have surged over 15%. Out of them, 59 are projected to deliver returns between 10% and 80% over the next year, according to median analyst price targets compiled from LSEG.

Nifty has gained 7% so far this month after declining 14% between October and February. The Nifty Midcap 150 and Smallcap 250 are up 9.5% and 11%, respectively, in March after falling 20.5% and 25% in the the period under review.

ET has compiled a list of 15 stocks which can give returns between 10% and 33% in a year.

For instance, Sharda Cropchem, which declined 12% between October and February, has run up 18% in March so far. Analysts’ consensus estimates suggest the stock could gain another 33% over the next year.

Transport Corporation which declined 16% in five months till February gained 22% in March. The stock is expected to give returns over 15% in a year. JK Lakshmi Cement gained 15% in March after declining over 13% between October and February. The stock has an upside of 15% as per the analysts consensus estimates.