Stocks to buy: BSE, Crompton Greaves - two stock picks by HDFC Securities with up to 40% upside potential

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Brokerage firm HDFC Securities Institutional Research Desk has picked two stocks to buy amid this market momentum based on their fundamentals and decent upside potential..

These stocks to buy include BSE and Crompton Greaves Consumer Electricals..

HDFC Securities believes the derivative growth for BSE will continue to be led by the scaling of the BANKEX contract, the go-live of large discount brokers, a higher volume of algo and proprietary traders, an increase in active UCCs, and greater participation of FPIs..

The summer season has started on a positive note and Crompton Greaves Consumer Electricals has taken a 4-5% price hike in fans (cumulatively over the last few months) which has helped recoup all but 150 bps cost increase..

In the medium to long term, we like the Crompton 2.0 strategy, where the focus is on protecting and growing the core (fans and pumps); scaling up the kitchen portfolio as the new vector for growth; transforming the lighting business; premiumisation of the portfolio, led by innovation; GTM excellence and diversification; and entry into 2-3 new segments," HDFC Securities said..

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