DIWALI PICK

Attractive investment avenues 

Equity	CMP (Rs)	Tgt (Rs)	Brief Rationale
ITC	204	232	Improved profitability; cigarette business resilient
GCPL	404	486	Emerging-market play; successful acquisition integration
Lupin	467	520	Distinct business model; improving profitability
Sun Phar	487	580	Steady growth ahead; leadership to continue
TCS	1,048	1,180	Consistent performer; strong operational mgmt
HCL Tech	412	500	Strong deal wins; volume led growth to continue
ICICI Bk	870	1,135	Structurally improved profile; attractive valuation
HDFC Bk	487	575	Most robust bank; a ‘Safe Haven’ in tough macro
M&M	801	900	Ssangyong to add value; domestic leadership continues
Hero Moto	2,052	2,350	Market leadership to continue; margin expansion
Hindalco	122	185	Novelis earnings resilient; Aluminium volumes to surge

SOURCE : IIFL