It’s a brand new week for the markets. Investors are going to no doubt watch out for the key levels that the Nifty scales this week. However, if you are looking for stock-specific bets, Jefferies has identified a list of 5 stocks with ‘Buy’ Recommendations.

Here is a detailed analysis of Jefferies’ investment rationale for each stock.

Jefferies on ITC: ‘Buy’

Jefferies reaffirmed its Buy rating on ITC with a price target of Rs 535, signalling 27% upside from Rs 420. The brokerage said cigarette volume momentum remains intact, with growth of about 6% year-on-year, though margins have been compressed by high-cost tobacco.

The brokerage said EBIT growth in cigarettes lagged revenue but added that “the outlook remains strong as demand holds up and premiumisation continues.”

ITC is valued

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