NEW YORK ( TheStreet) -- HDFC Bank (HDB - Get Report), ICICI Bank (IBN), iGate (IGTE - Get Report), Sterlite Industries (SLT), WNS Holdings (WNS - Get Report) and Dr Reddy's Labratories (RDY - Get Report) are Indian stocks with potential to deliver 21% to 30% returns, based on analysts' consensus estimates of 12-month price targets.
Indian stocks returned 13% in the last one year. However, total investor wealth lost during the last three months was substantial. The benchmark index BSE Sensex wiped out 8% in the past three months. Concerns like inflation, foreign institutional investor outflows, and interest rate hikes weighed heavy on the broader markets.
Nonetheless, for longer term, investors can consider several opportunities for appreciation. The following six stocks have potential to deliver attractive returns over the next one year. These stocks are from diverse sectors like banking and financials, metals, technology and pharmaceuticals. In the last one year, the selected stocks delivered an average 24% and have a potential 21%-30% upside over the next one year, according to analysts' consensus estimates.