Rs 2000 notes to go but 19 Sensex stocks below Rs 2K can be game changers for your portfolio

MUMBAI: For many Indians, Friday evening brought back memories of demonetisation after the Reserve Bank of India’s decision to withdraw the circulation of Rs 2,000 banknotes.

For equity market investors, however, this doesn’t change much.


The analysis showed that 19 stocks that are part of the benchmark Sensex are available below Rs 2,000 a share.

The entire frontline banking pack, which includes ICICI Bank, Axis Bank, and State Bank of India, is available below Rs 2,000 a share.

Barring Tata Consultancy Services, all other frontline information technology stocks trade below Rs 2,000 a share.

ITC, which is among the best-performing stocks year-to-date, is also on the list.


Brokerage Jefferies India remains bullish on the entire banking pack given the strong earnings outlook amid robust credit growth and an improving balance sheet.

It has a “buy” rating on ICICI Bank, Kotak Mahindra Bank, IndusInd Bank, Axis Bank and State Bank of India. For Kotak Bank, Jefferies has a target price of Rs 2,400, implying a potential upside of 24% from the current levels.

Despite the stellar run that ITC stock had in the last 1 year, it remains the top pick in the fast-moving consumer goods pack given the bullish outlook for all the businesses and high dividend yield.

Most analysts have increased their earnings estimates for ITC for FY24 and FY25. Nuvama Institutional Equities has a price target of Rs 500 for ITC stock, implying an upside of 19% from the current levels.

In the automobile pack, Tata Motors, which is one of Dalal Street’s favourites, is also in the list. The stock has outperformed the benchmark index by about 17% in the last 1 year. Despite this rally, analysts see scope for more upside in the stock.

Tata Motors has an average target of Rs 596.44, representing an upside of nearly 14% from current levels, according to Trendlyne.

ETMarkets also did an analysis of stocks available below Rs 2,000 beyond Sensex and found that about 406 stocks that are part of the BSE 500 index, trade below Rs 2,000.

(Data inputs from Ritesh Presswala)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)