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Axis Securities has issued a detailed research report in which the
Dec’21 NIFTY target has also been upgraded to 17400 (22x FY23E earning).
Axis Top Picks basket has delivered an excellent 82% return since its introduction in May’20 (3% in Jun’21), beating the NIFTY return of 1%. While NIFTY returns stayed limited, the broader market continued to outperform the benchmark, indicating significant market strength. Axis has recommended 16 top-quality stocks from the small-cap, mid-cap and large-cap universe. The stocks have an upside potential of up to 33%.