In talk with Anil Singhvi, Sanjiv Bhasin reveals 2 stocks to buy today - NMDC, IGL; Know what works for these picks
Sanjiv Bhasin spoke to Zee Business Managing Editor Anil Singhvi today too and in line with his daily calls, he picked two candidates as stocks to buy, out of which one was a PSU. Both calls are Buys, the IIFL Securities Director said.
In what will please investors who heeded the call to buy market expert Sanjiv Bhasin picks on Wednesday, it was revealed that all intraday calls achieved their targets. Bhasin, who is the Director at IIFL Securities, had recommended stocks like Federal Bank, Bajaj Finance, Sun Pharmaceuticals and Tata Motors. Many PSU stocks including NTPC, GAIL, SAIL and Coal India have also outperformed, he said. Bhasin added that he was still bullish on PSU stocks and advised investors to not miss the opportunity.
Bhasin spoke to Zee Business Managing Editor Anil Singhvi today too and in line with his daily calls, he picked two candidates as stocks to buy, out of which one was a PSU. Both calls are Buys, the IIFL Securities Director said.
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Top Stocks To Buy: NMDC
The first stock to buy picked by Bhasin was NMDC. He put the stop loss at Rs 81.50 while the target price is Rs 95. The stock is currently trading around Rs 85. He said he has revised the target price upwards because of favourable factors emerging now. Floods in China have led to the production of iron ore taking a hit there. Also, iron ore prices are going up and steel sector output is now at a high and all of this works well for this state-run company, he said. NMDC stock has got an 8.5 per cent dividend yield. It is well placed to get huge gains from the iron ore segment.
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Top Stocks To Buy: Indraprastha Gas Limited
Bhasin’s second pick was a quasi PSU Indraprastha Gas Limited (IGL). Delhi is now open for business after lockdown and the gas stations are now operating again. It has also increased prices. Another important thing going in its favour is the flattening of the corona curve in the state. He recommends buying of this stock around Rs 408-Rs 410. The IGL shares are currently trading around Rs 410. He puts the stop loss at Rs 404 while the first target price at Rs 425. The next target he said is Rs 430.
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