Golden Crossover: This stock can deliver 21% upside, says Angel One

Allied Blenders and Distillers Ltd is Angel One's latest TechnoFunda stock pick, as the brokerage turned bullish on the counter based on its reading of the technical charts, and also fundamentals.  
  
The Allied Blenders stock has been consolidating in a tight range of Rs 406 to Rs 438 in the past 20 days and is indicating a fresh anchor  column follow through DTB (Double Top Buy) with 45 degree trendline break on a Point & Figure (P&F) chart.

"The stock has also given a golden crossover on the daily timeframe indicating fresh bullish momentum in place," Angel One said adding that an important support for the stock is placed at Rs 390.63, which is its 50-DMA.

The brokerage has given a target price of Rs 538 on the stock and suggested a stop loss of Rs 387. The target suggested a 21 per cent potential upside. 

Overall, the technical setup suggests a bullish bias in both short and medium-term perspectives, supported by structural support and momentum confirmation, Angel One said.

The brokerage said India’s alcoholic beverages market is witnessing a structural shift toward premium and luxury segments, driven by rising disposable income and changing consumer preferences. 

"ABDL’s Prestige & Above (P&A) segment grew 13 per cent YoY in FY25, with volume contribution rising to 40.4 per cent and value nearing 50 per cent. With a pan-India distribution network across 34 bottling units and 79,000+ retail touchpoints, ABDL is also scaling its global footprint, now present in 23 international markets," Angel One said.

ABDL is targeting 50 per cent P&A volume share by FY28, led by flagship brands like ICONiQ White, Arthaus, and Zoya.