In chat with Anil Singhvi, analyst Vikas Sethi picks Ambika Cotton, Motherson Sumi as top picks with very short term view
In yet another edition of popular TV show ‘Sadabahaar Sethi Saab’, Market Analyst Vikas Sethi today recommended two stocks – one each from the cash market and futures and options market. Calling them as excellent money-making stocks, one of the stocks recommended by Sethi to Zee Business Managing Editor Anil Singhvi was from textile space
In today's edition of the popular TV show ‘Sadabahaar Sethi Saab’, Market Analyst Vikas Sethi today recommended two stocks – one each from the cash market and futures and options market. Calling them as excellent money-making stocks, one of the stocks Sethi recommended on the urging of of Zee Business Managing Editor Anil Singhvi was from textile space.
The recommendations are with a short term perspective.
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Top Stocks To Buy: Ambika Cotton Mills
Analyst Vikas Sethi recommended Ambika Cotton Mills as a cash market pick. This company is fundamentally very strong and manufactures cotton yarns for hosiery and weaving items. The Coimbatore-based company is a leading textile company and exports 60per cent of its produce. There is a government focus on this, and India is being seen as a replacement of China in this sector. The valuations of this stock is reasonable at Rs 725. Operating profit is around 13 per cent while the return on equity is around 13.31 per cent. The debt-to-equity ratio is 0.14.
The FIIs and DIIs hold over 21 per cent in the company.
He said that he was bullish on its Q2FY21 results which are likely to come by early November. The share should be bough around Rs 720. The very short term target price is Rs 775 while the stop loss is Rs 695.
Top Stocks To Buy: Motherson Sumi
Another stock picked by him was from the future and options space. He said that the auto stocks are now in the focus. He picked Motherson Sumi as a top Buy. This stock is now ready for an upside after seeing corrections at the top level. This sector is seeing a good momentum with other sectoral stocks like Bosch, Bharat Forge doing well.
He recommends buying at current levels of Rs 111. He puts the target price of Rs 116 by early next week. He puts the stop loss at Rs 108.
The FIIs and DIIs together hold around 49 per cent equity in the company.
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He puts the target price at Rs 195 and stop loss at Rs 175.
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