Top 6 Stocks can be bought for Returns of more than 40 percent

Despite the stock markets hitting record highs and valuations in some sectors rising sharply, some stocks are likely to rise further.

1. Timken - Target Price: Rs 2,278

Edelweiss Securities, the brokerage of this bearing company, has started coverage with a buy rating. For this, a target price of Rs 2,278 has been given for the next 12 months. 

This would be an increase of about 34 percent from the current price of this stock. The company can benefit from increased opportunities for the bearing industry. 252 stocks turned multi-bagger with Nifty rising 8,000 points in 16 months, do you have it?

2. Philatex - Target Price: Rs 168

This textile company is likely to benefit from the new schemes of the government and an increase in demand. Brokerage firm KR Choksey has started coverage of this stock with a buy rating. For this, a target price of Rs 168 has been given, which is about 44 percent more than its current price.

3. Chemplast Sanmar - Target Price: Rs 910

The recently listed chemical company will benefit from the increasing demand for PVC products. Brokerage firm ICICI Securities said that opening new markets due to difficulties in China may increase business opportunities for the company. A target price of Rs 910 has been given for this stock.

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4. Schaeffler - Target: Rs 8,460

The boom in the automobile sector can improve business for this bearing company. Edelweiss Securities expects the company's sales to grow by 21 percent and net profit around 32 percent. The stock has a target price of Rs 8,460, which is about 19 percent higher than its current price.

5. Polycab - Target: Rs 3,200

This company, which does business with cables and wires, can benefit from the growth of the renewable energy sector and electric vehicles. The stock has been given a target price of Rs 3,200 with a buy rating, which is about 26 percent higher than its current price.

6. SKF- Target: Rs 3,670

This bearing company can also get an opportunity to strengthen the business by increasing demand. It has started work on a plan to increase its market share. 

Its sales are expected to increase by 18 percent. A target price of Rs 3,670 has been given for this stock, which is about 11 percent higher than its current price.