KRChoksey recommends these 6 stocks for January 2023 with an upside of 13-33%

KRChoksey has released a list of stocks that might have an upside of around 33% in January. The list has these six stocks: 

1. Ashok Leyland 
2. Reliance Industries
3. Axis Bank
4. Britannia Industries
5. Maruti Suzuki India
6. SBI Life Insurance

KRChoksey predicts these shares can have a return between 13 to 33% in January. The market had a strong start in 2023 but turned volatile on January 3. However, it ended positively, with NIFTY staying above 18,200. 

1. Ashok Leyland

1. Rating: Buy 
2. Target Price: Rs 194 
3. Upside: Rs 31.7 percent

It is a Hinduja Automotive Ltd. subsidiary and is an automobile company. Its offerings include medium and heavy commercial vehicles with its components, power solution systems, and light commercial vehicles. Its manufacturing locations include India, Kenya, the UK, Nigeria, Bangladesh, Sri Lanka, and the UAE. Ashok Leyland also offers financial services for housing and vehicle financing. Its customer base extends to Latin America, CIS, Asia, the Middle East, and Africa. Its headquarters is in Chennai, India. 

Also Read: All you need to know about Landmark Cars IPO 

2. Axis Bank 

• Rating: Buy 
• Target Price: Rs 1,120 
• Upside: 16.4 percent

It is India's third-largest bank in the private sector. It offers financial services to mid and large corporate MSMEs, retail, and agriculture businesses. It has various financial and banking services, including treasury, wholesale, and retail. Axis bank has five subsidiaries that it wholly owns: Axis Mutual Fund Trustee Ltd, Axis Asset Management Company Ltd., Axis Trustee Services Ltd, Axis Private Equity Ltd, and Axis Securities and Sales Ltd. 

3. Britannia Industries 

• Rating: Accumulate 
• Target Price: Rs 4,829 
• Upside: 13.6 percent

It is among the leading FMCG companies in India, and its portfolio includes rusks, Cakes, Bread, Biscuits, Yoghurt, Milk, Beverages, and cheese. Its brands include Milk Biki, NutiChoice, Treat, 50:50, Good Day, Marie Gold, and Tiger. It is present in over 60 countries and has local manufacturing in Oman and the UAE. It is Nepal's market leader. Britannia was registered in 1918 on March 21, and it has plants in Uttarakhand, Mumbai, Chennai, Delhi, and Kolkata. It is engaged in the sale and manufacturing of various food items. 

4. Maruti Suzuki India 

• Rating: Buy 
• Target Price: Rs 11,158
• Upside: 33 percent

It was formerly called Maruti Udyog Ltd and has a market share of over 50% in the domestic car market. It is the largest passenger car company in India. It has a complete car range from Alto to Ritz, Wagon R, Swift, Estillo, sedans like DZire, and SUVs like Grand Vitara. It is Japan's Suzuki Motor Corporation's subsidiary as the major had a 56.21% stake in Maruti Suzuki till December 31, 2017. It manufactures and sells vehicles and their spare parts. 

Also Read: All you need to know about SBIs IPO plans

5. Reliance Industries 

• Rating: Buy 
• Target Price: Rs 3,076 
• Upside: 20.3 percent

It is India's largest company in the private sector on all financial parameters. RIL became the first Indian private organization to make it to the Fortune Global 500 list. It has top-of-the-class manufacturing facilities all over India, including Vadodara, Silvassa, Patalganga, Naroda, Nagpur, Nagothane, Jamnagar, Hoshiarpur, Hazira, Dahej, Barabnaki, and Allahabad. It involves financial services, digital services, retail, chemicals, and hydrocarbon exploration. 

6. SBI Life Insurance Company 

• Rating: Buy 
• Target Price: Rs 1,550 
• Upside: 22.3 percent

Established in 2001, it is a life insurance company in India. It is a joint venture between BNP Paribas Cardiff S.A and SBI. It has a whopping 35,500 branches in India, making it India's largest banking group. 

These are the top recommendations by KRChoksey, with an upside from 13 to 33%. You can look at these stocks for a good return in the near to long term.