ZEE, Bandhan Bank, Vedanta, IRCTC: Largecap stocks that need up to 200% rally to revisit record levels

Largecap benchmarks such as Sensex, Nifty and BSE100 might have hit fresh record highs in September, 38 stocks out of 100 top largecap stocks in terms of market capitalisation (m-cap) were still at least 20 per cent away from their peaks. Four of the 100 stocks needed 100-200 per cent rally to revisit their record high levels; 18 in total required over 50 per cent rise. The average target prices, as per Trendlyne, suggest revisiting peaks would be an uphill task for many of the stocks, even if they deliver healthy returns going ahead.    

The BSE100 list was led by Zee Entertainment Enterprises Ltd (ZEE), which required 203.93 per cent rally over its Monday's closing price of Rs 268.15 to revisit its all-time high of Rs 815 hit in February 2002. An average target price for ZEE, as per Trendlyne, stands at Rs 297. The target suggests an upside potential of 11 per cent.

Bandhan Bank Ltd needed a 200 per cent rally to revisit its August 2018 high of Rs 741 over its Monday's closing of Rs 246.50. For this stock, the average analyst target price stands at Rs 275. DLF Ltd is 131.48 per cent off its January 2008 highs. Its average share price target suggests nil upside potential.

Vedanta stock may need to double from hereon to revisit its April 2010 high. The stock, as per Trendlyne, has average target price of Rs 283, suggesting 20 per cent potential upside for the stock. Lupin Ltd required 87 per cent upside to revisit October 2015 highs, but its average target suggests 18 per cent potential downside.

Indian Railway Catering And Tourism Corporation Ltd, Jubilant FoodWorks Ltd, Wipro Ltd, Oil & Natural Gas Corporation Ltd, Crompton Greaves Consumer Electricals Ltd, Adani Enterprises Ltd, Indian Oil Corporation Ltd

Info Edge (India) Ltd, Zomato Ltd, Coal India Ltd, Avenue Supermarts Ltd and Voltas Ltd would need 53-86 per cent jump in prices to take out previous peaks.

Meanwhile, in the BSE 200 index, which accounts for over 85 per cent of BSE's total market capitalisation, nearly half of index constituents still required at least 20 per cent rally to revisit their record high levels. Data showed 22 of the 200-pack index constituents required 100 per cent to 2,076 per cent surge (up to 21 times jump) in their prices to revisit their previous peaks, with one of every four stocks needing 50 per cent upside. The list included private and public sector banks, a couple of Adani group stocks and PSUs, data compiled from corporate Database AceEquity suggests.  

YES Bank traded at Rs 18.56 level on Monday. It was off 2,077 per cent from its all-time high (adjusted basis) of Rs 404 level. Vodafone Idea Ltd needed 1026.76 per cent rally from the prevailing levels to revisit its all-time high of Rs 123.16 on BSE. Adani Total Gas Ltd needed 525.81 per cent rally while another Adani group stock Adani Energy Solutions Ltd (erstwhile Adani Transmission) required396 per cent jump.

Bank of India (436 per cent), Indian Overseas Bank (391.72 per cent), Union Bank Of India (331 per cent), Punjab National Bank (262.85 per cent), Bandhan Bank Ltd (200.60 per cent) and IDBI Bank Ltd (178.85 per cent) are some other stocks.

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