Top ten Indian stocks that can gain another 10%-30% even after the April rally, according to Macquarie

Top ten Indian stocks that can gain another 10%-30% even after the April rally, according to MacquarieImage credit: Unsplash
  • In this situation, analysts suggest that one should rely on quality companies with a proven track record.
  • The Sensex and the Nifty rallied 12% in April 2020.
  • If the stock market falls further, many of these stocks can decline too, but their core strength will help them rebound faster compared to others.
In the current volatile market, it is critical to pick the right stocks. The Indian benchmark indices — Sensex and Nifty — have shed almost 17.5% of its gains in the past two months, and the recovery in many of these shares can take a long time, say experts.

In this situation, market experts suggest that one should rely on quality companies with a proven track record. The Coronavirus crisis has largely affected stock valuations across the board, and such companies are relatively rare to spot on D-street at this time. Macquarie India, an investment bank, picked up the ten best stocks that have a positive outlook, and an investor can rely on it.


However, if the stock market falls further, many of these stocks can decline too, but their core strength will help them rebound faster compared to others, the report added.
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Here are the top ten stocks recommended by Macquarie analysts

CompaniesTarget PriceImplied gains (based on closing price on May 5)
HDFC Bank₹112419%
Hindustan Unilever₹250018.24%
Infosys₹75110%
ICICI Bank₹43824.60%
HCL Technologies₹72728%
Ultratech Cements₹395216.80%
GAIL India₹20054.50%
Marico₹36719%
Cipla₹6609.50%
Petronet LNG₹32529.50%