These 5 newly listed stocks after correction offer decent upside potential: Brokerage

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In the year 2021, the primary market gained strong traction and about 63 companies raised around 1.2 lakh crore via initial public offerings (IPOs). Many of the newly listed stocks have seen correction, mongst them, brokerage house Religare Broking has shortlisted 5 stocks which it believes have good long-term growth potential.

Clean Science and Technology: “The company is well-positioned both in Indian as well as global markets. Going ahead, its de-risked business model, leadership position across various products and expansion will drive growth. On the financial front, the company is debt free and over the years their performance has been encouraging,” the note stated. The brokerage’s buy rating on the specialty chemical stock comes with a target price of 2,509.

Data Patterns (India): Religare has a positive view on the company for the long term and has assigned a buy rating on the stock with a target price of 842 per share.

Heranba Industries: Given its expertise in agrochemicals, coupled with a wide distribution network, strong manufacturing capability and expansion plan bodes well for future growth, as per the brokerage. It has a target price of 832 on the newly listed stock.

Latent View Analytics: “Going ahead, the company’s strategy is to work towards innovation, increase geographic presence and expand via inorganic growth opportunities. We have assigned a buy rating with a target price of 532.”

Medplus Health Services: Religare said that going forward, the company intends to grow its omnichannel platform with a hyper-local delivery model, enter new geographies and increase the share of private labels which will aid revenue growth. The brokerage has a target price of 1,215 apiece on Medplus shares.

The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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