Mid-cap Stock Picks With Anil Singhvi: Buy Shanthi Gears shares for great returns, says Sandeep Jain
Mid-cap Stock Picks With Anil Singhvi: Amid mid-cap stock party going on in the Indian stock market, Zee Business Managing Editor Anil Singhvi has a cautionary word for investors.
Mid-cap Stock Picks With Anil Singhvi: Amid mid-cap stock party going on in the Indian stock market, Zee Business Managing Editor Anil Singhvi has a cautionary word for investors. The Market Guru has said that one should buy mid-cap stocks at certain levels and there should be no hurry in buying any mid-cap or small-cap stocks. Due caution has to be exercised. In this regard Singhvi asked Sandeep Jain today to share his stock pick and he replied with Shanthi Gears as a share to buy. However, Jain too maintained that the stock has already escalated and hence one should wait for some correction in the counter and then buy it with long-term horizon in mind.
Speaking on the Shanthi Gears prospects, Sandeep Jain told Anil Singhvi, "Shanthi Gears is an auto industry share and in the last few months auto shares have received maximum beating after the banking stocks. So, after the pull-back in the markets, auto stocks are expected to outperform other sectors and in coming days, they are expected to lead the bull run at the Indian indices."
On details of the company, Jain said that Shanthi Gears is a Murugappa Group company and that reflects the face value it carries in the market. Apart from this, it has given 2 per cent dividend yield and its dividend payout is to the tune of 78 per cent. Recently, there are expectations of reduction in GST on two-wheelers and once it's granted four-wheelers would also step up their demand for the same."
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On his suggestion to the stock market investors in regard to the Shanthi Gears shares, Jain said, "Currently, it is trading at around Rs 110 and hence I would advise investors to wait for some correction in the counter as it has already surged to this higher levels today. Once, the profit-booking takes place in Shanthi Gears shares, one can buy it for the target of Rs 130 per stock mark."
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आज के लिए जैन सा'ब का GEMS: Shanthi Gears
क्या है इस शेयर की खासियत और किन लेवल्स पर करें खरीदारी?@AnilSinghvi_ @SandeepKrJainTS pic.twitter.com/KaxxD4hyNc— Zee Business (@ZeeBusiness) August 26, 2020
Jain said that the time horizon one should keep in mind while taking buy position in the counter is 6-9 months.
07:56 AM IST