Stocks

After a pullback last week, Indian stocks are once again gaining momentum. We have cherry-picked top stocks to buy this week based on the outlook from top brokers and their potential upside. While most retail investors are looking at Zomato shares, RBL shares and LTIMindtree shares, the institutions are accumulating other stocks.

Zomato shares are currently trading at Rs 97.60. Based on the 12 research reports from 3 top analysts of the industry, the stock has an average price target of Rs 96.67. This translates into a 0.95% downside from the current level. However, while Zomato might not look like a good investment at the moment, many other stocks still appear to be quite undervalued. Let’s have a look at the most profitable stocks to buy this week.

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Mahanagar Gas (NSE: MGL) Share Price Forecast

Since the release of its recent earnings report, Mahanagar Gas share price has been experiencing a sharp sell-off. On Monday, the shares opened higher but the selling pressure turned the candle red once again. Nevertheless, the stock still closed 0.72% above its previous close.

Based on the 35 research reports from 11 different market analysts, MGL share price seems to be currently undervalued. The company, whose profit nearly doubled in Q1, has an average price target of Rs 1260 by analysts. This is 18.5% above the current share price of Rs 1063, making it one of the top stocks to buy for short term.

L&T Technology Services (NSE: LTTS) Share Price Forecast

L&T Technology share price has been looking very bullish since the release of its Q1 financial results. The stock is currently retesting its December 2023 peak of Rs 4,300. Based on the consensus estimates, the stock has a downside of more than 7%, with an average price target of Rs 3,927.

If you want to buy this stock, you must wait for a reclaim of the Rs 4,300 resistance level. Based on the analyst estimates, there are chances of a rejection from the current level.

Mahindra And Mahindra (NSE: M&M) Share Price Forecast

According to 12 different analysts, Mahindra share price forecast is looking very bullish at the moment. These analysts hold an average price target of Rs 1,588 for the stock, a 4.03% upside from the current price of Rs 1526.9. This makes NSE: M&M undervalued and one of the best stocks to buy today.

The automotive manufacturer released its Q1 financial results on Friday. The investors took the report very positively as the stock surged on Monday and closed the first trading session of the week with a 4.24% gain.

Bharti Airtel (NSE: BHARTIARTL) Share Price Forecast

NSE: BHARTIARTL is another top stock to buy this week. Based on 34 research reports on Bharti Airtel share price by 10 different analysts, the stock holds a potential upside of 6.26%. The average consensus target is Rs 947, well above the current price of Rs 891.40.

The markets have responded very positively to the last week’s release of Bharti Airtel’s Q1 earnings report.  After a 2.06% surge on Friday, the stock extended its gains by another 0.20% on Monday.