InCred Equities picks 5 stocks to buy in Samvat 2083, sees up to 46% upside; Artemis, CarTrade Tech among top bets
A Ksheerasagar
Domestic brokerage firm InCred Equities has identified five stocks to consider buying during the Hindu calendar year Samvat 2083, projecting an average upside potential of around 36% based on its target prices.
The list includes RHI Magnesita India, CarTrade Tech, Artemis Medicare, Rolex Rings, and Lemon Tree Hotels. Of these, the brokerage expects four stocks to deliver gains of more than 30% over the next year, while Lemon Tree Hotels is projected to offer an upside of 23%.
InCred Equities has set a target price of ₹437 per share for Artemis Medicare, indicating an upside potential of 46% from its latest closing price of ₹300.
The brokerage's positive outlook is supported by improving operational performance at its Gurugram facility, while it also sees growth potential from the Raipur facility. Occupancy currently stands at around 10%, with management targeting 20-25% by the end of FY27. InCred expects losses to stabilise over the next 18-24 months.
The company's expansion pipeline includes a 250-bed Tower IV project in Gurugram, scheduled for the second half of FY28, and a proposed 650-plus-bed South Delhi VIMHANS facility, targeted for completion in the fourth quarter of FY30, subject to environmental clearance.
For CarTrade Tech, InCred has assigned a target price of ₹3,517 per share, indicating an upside potential of 41% from Thursday's closing price of ₹2,493.
The brokerage remains positive on the company's growth prospects, led by its OLX classifieds business, while the company's remarketing business also reported healthy performance.
InCred expects operating leverage to drive EBITDA margin expansion from 33% in FY26 to 42.7% by FY28, with management guiding for around 20% quarter-on-quarter growth in group EBITDA in Q3FY27.
InCred sees a 35% upside potential in RHI Magnesita India and has set a target price of ₹492 per share. The brokerage expects volume growth to be supported by India's capital expenditure cycle.
Steel capacity is projected to increase from 220 million tonnes to 300 million tonnes by 2030, while the cement sector has a capital expenditure pipeline of ₹1.2 lakh crore. InCred has factored in volume growth of 7.5% and 8% for FY27 and FY28, respectively.
The brokerage also highlighted opportunities in the ₹1,800-crore ironmaking market, where the company has built an 18-month order book, including over 30,000 tonnes of coke oven orders.
InCred has set a target price of ₹251 per share for Rolex Rings, indicating an upside of 33% from the current market price of ₹189. The brokerage believes the company's recent weakness was driven by demand-related challenges rather than a deterioration in its business franchise.
US Section 232 duties, which increased from around 3% to more than 45%, along with a customer's plant shutdown, led to a nearly 30% decline in US exports in FY26. However, the company retained customer approvals and wallet share.
InCred sees growth opportunities from a recovery in US exports, expansion in Europe, and improving domestic demand.
For Lemon Tree Hotels, InCred has set a target price of ₹142 per share, indicating an upside potential of 23% from its latest closing price of ₹115. The brokerage's investment thesis centers on the company's transition towards an asset-light business model, with a growing contribution from high-margin management contracts and franchise fees.
InCred also sees Lemon Tree as a preferred operating partner for Fleur Hotels, expecting to manage around 2,000 rooms out of Fleur Hotels' targeted addition of 2,500 rooms. Additionally, Lemon Tree's MoU with Omaxe to operate 10 hotel projects comprising 4,000 keys across seven cities is expected to strengthen its expansion pipeline.
A Ksheerasagar
Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends.
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HomeMarketsStock MarketsInCred Equities picks 5 stocks to buy in Samvat 2083, sees up to 46% upside; Artemis, CarTrade Tech among top bets
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