Following EPS increases, these companies might return over 15% in a year.

ET has developed a list of stocks that have witnessed an EPS upgrade of more than 7% in the last three months and might return more than 15% in the following year.

In the period between January and March, when brokerage analysts reduced profit projections for more than half of the businesses in the NSE 500 index, about 40 stocks saw boosts. According to Bloomberg's compilation of expert consensus projections, 22 companies could return more than 15% in the next year.

Ramco Cements, Gujarat Gas, Laxmi Organics, BPCL, Emami, Motilal Oswal Financial Services, Chemplast Sanmar, DLF, Apollo Hospitals, Hindustan Unilever, and Indian Oil are just a few of the companies involved. Earnings expectations for these firms have been raised by 15 to 75 percent.

Many of these stocks have declined in recent weeks, despite analysts raising their earnings predictions, according to analysts. Oil marketing enterprises and consumer-facing companies, such as HUL, Emami, and Hero Motocorp, have seen the biggest growth.

"Among low beta sectors, we favour automobiles, FMCG, and private banks, which have decent values but depressed demand or profitability, over the costly and fast-growing durables, internet, and chemicals," said Aditya Narain, Edelweiss' head of research. "The former is vulnerable to rural (beneficial from increasing food prices), and the latter is more vulnerable to any slowdown shock."