Diwali 2019 stock to buy: Maruti Suzuki share price to give 19 pct returns, say experts
Diwali 2019 share: The stock markets are going through some rough times due to the weak global cues and negative foreign institutional investors' sentiments. However, stock market experts are highly bullish on the auto, banking and financial shares. This positive mood on such stocks is mainly caused by the budget surcharge waiver last fortnight. Asked about the Diwali 2019 share that can give smart returns by the end of the festival of lights, stock market experts suggested Maruti Suzuki shares that are currently oscillating around Rs 6,000 levels. They suggest that every dip in the Maruti Suzuki counter should be taken as a buying opportunity.
Speaking on the Maruti Suzuki share price Prakash Pandey, MD & CEO at Plutus said, "Maruti Suzuki share price is expected to go up after the budget surcharge waiver because auto and banking stocks are the favourite shares of the FIIs. Since Maruti Suzuki is a market leader in the Indian auto sector, I believe the counter to go around Rs 7,200 per stock levels by end of Diwali 2019." He said that in coming days, auto sales are expected to go northward and hence sales of the Maruti Suzuki vehicles are also expected to showcase gains.
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Asked about his suggestion to the stock market investors in regard to the Maruti Suzuki share price, Pandey said, "I suggest share market investors take a buy position in the MSL counter in the range of Rs 5,900 to Rs 6,100. By end of Diwali 2019, the counter looks poised to show Rs 7,200 per stock levels." However, he strictly maintained that an investor should maintain a stop loss of Rs 5,600. Currently, the Maruti Suzuki share price is oscillating around Rs 6,050 means in the range of suggested buying levels. If an investor takes a buy position in this counter, he or she can expect around 19 per cent returns on his or her investment by Diwali 2019.
Asked about the Auto counter outlook, SEBI registered technical equity analyst Simi Bhaumik said, "After the surcharge waiver, auto, banking and financial stocks are expected to receive the maximum buying as they have witnessed the maximum beating in the recent selloff pressure on the Indian markets." On which share to buy in the auto segment, she said that in auto sector four-wheeler segment, Maruti Suzuki share is good bet while in two-wheeler segment Hero MotoCorp would also be a good share to buy.