While Indian market is showing remarkable resilience by not falling, it is also not exhibiting any exuberance either on the upside. To successfully tide over this phase conservatively, here are three defensive candidates that deserve your consideration this Diwali
1 Zydus Wellness: The stock at Rs 1713 apiece, has just broken out of its medium and long term averages. The company is a market leader in nearly all the segments where its products are marketed:
Sugar Free – 1st -~96%
Everyuth Peel off -1st -76%
Everyuth Scrub -1st -39%
Nycil -1st -34%
Glucon D -1st -58%
Complan -4th -5%
2 Allcargo Logistics is a leading multinational Company engaged in providing integrated logistics solutions and offers specialised logistics services across multimodal transport operations, inland container depot, container freight station operations, contract logistics operations and project and engineering solutions. It is available at a reasonable Price to Earning multiple of about 10 and has broken out recently above the medium term averages. A good medium term bet for a 20% upside to about Rs 500
3 Suven Pharma : “there sustained growth in topline and healthy profitability, which is expected to continue over the medium term and should result in higher cash accrual”, states the Crisil report of April 2022 while upgrading the company’s rating then.
Ever since the company’s share price has fallen after ordinary latest quarterly results and it is a good opportunity to enter this stock for medium to slightly longer term for a target price of Rs 500