JSW Steel: ICICI Securities continues to be bullish on this steel company post strong Q1FY21 results, with an 18.5% upside and a target price of Rs. 850. JSW reported ITS highest ever quarterly revenue, operating EBITDA and net profit after tax. "The 5 MTPA Dolvi expansion will commence operations by September 2021, providing healthy revenue visibility," Analyst Dewang Sanghavi writes. Key risks, they note, include "a steep decline in steel prices, and higher than expected rise in operating costs."

Hindustan Unilever: This FMCG giant is a pick for Axis Securities with an upside of 13%+ on a target price of Rs. 2,670. "The topline was in line with our expectations though on all other key bottom-line numbers, the performance was below our expectations," analysts Gaurav Uttrani and Suvarna Joshi write. But they note, "Q1FY22 performance displayed resilience with improving trajectory across the portfolio, especially in the discretionary products. The management indicated that rural growth will continue."

HCL Technologies: This software company is among the players riding the IT demand recovery globally, and Geojit is a buy on this stock, giving it an upside of 15.4% on a target of Rs. 1147. "Despite the second wave of the pandemic, the company has shown high resilience," analyst Sheen G writes, "With continued investments in digital engineering and geography expansion, HCL is positive about scaling up its margins in upcoming years apart from winning large deals, with healthy renewal rates." 

Can Fin Homes: Edelweiss is a buy on this finance company, with a target price of 660 and an upside of 24%."Credit costs continued to moderate with provisions declining 85% YoY and 15% QoQ, resulting in PAT growth of 16% YoY and 6% QoQ," analyst Vinay Khattar notes. "Management expects growth to return from Q2FY22 while NIMs/spreads should increase with loans getting repriced at higher yields." The key risks here include another round of lockdowns driven by an third wave of infections and the company's current significant AUM concentration in Bangalore (~37% of AUM).

Indian Bank: Chola Wealth Direct is a buy on this bank, noting the improvement in NIM and lower opex boosted operating performance while tax reversal propped up PAT, says analyst Arjun Pasumarthi. "The bank’s improving collection efficiencies and less than expected restructuring have improved credit cost outlook. In addition, the anticipated recovery in corporate demand should support the credit off take in 2HFY22E," he writes. Risks include fresh slippages in stressed sectors, and delayed recoveries in loans.