Axis Direct's Top Stock Picks: HDFC Bank, Tech Mahindra and more | Targets, potential upside

Indian equity markets experienced a volatile trading session on Monday, October 21, ending in the red. The Nifty index closed at 24,781.1, down by 0.29% (72.95 points), while the Sensex dropped 0.09% (73.48 points) to finish at 81,151.27. Broader indices, like the Nifty Midcap 100, saw a sharper fall of 1.7%. Amid this downturn, Axis Direct has identified five stocks that are poised for potential gains, offering solid investment opportunities.

Axis Direct's Recommended Stocks:

IndiaMART (CMP: Rs 3,018)

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IndiaMART shares ended Monday’s session at Rs 2,508.60 on the BSE. Axis Direct has set a target price of Rs 3,620, projecting a potential upside of 20%.

Tech Mahindra (CMP: Rs 1688)

Tech Mahindra closed at Rs 1,701.10 on the BSE. The brokerage has assigned a target price of Rs 1,850, indicating a potential 10% upside.

Pitti Engineering (CMP: Rs 1,295)

Pitti Engineering stock ended at Rs 1,296.65 on the BSE. Axis Direct’s target price is Rs 1,425, reflecting a predicted upside of 10%.

Kotak Mahindra Bank (CMP: Rs 1,870)

Kotak Mahindra Bank shares closed at Rs 1,789.55. The brokerage has forecasted a target price of Rs 2,150, suggesting a potential 15% upside.

HDFC Bank (CMP: Rs 1,681)

HDFC Bank shares finished Monday’s session at Rs 1,728.80. Axis Direct has set a target price of Rs 2,025, indicating a potential gain of 20%.