Shares to buy: IIFL Securities' Sanjiv Bhasin suggests 2 money-making stocks
Shares to buy today: IIFL's Sanjiv Bhasin has suggested that stock market investors buy Punjab National Bank (PNB) shares and Cipla — a pharma sector stock.
Shares to buy today: On account of news coming in about the Central Government mulling to divest some PSU banks, IIFL's Sanjiv Bhasin has suggested that stock market investors buy Punjab National Bank (PNB) shares while the COVID-19 impact is expected to take time for getting out of the global indices, he suggested investors to buy Cipla — a pharma sector.
Speaking on PNB shares, Sanjiv Bhasin, Executive VP-Markets & Corporate Affairs at India Infoline said, "There is news coming in about divestment plans of the public sector banks by the central government. So, due to this, PSU banks are expected to become bullish and my top pick is PNB."
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Sanjiv Bhasin suggested stock market investors to buy PNB at around Rs 30.50 to Rs 31 per stock levels for the immediate short-term target of Rs 38. However, Bhasin said that those who can go long should hold the PNB stock for next three months keeping a target of Rs 45 per stock levels. He suggested investors to maintain stop-loss at Rs 28.25 per stocks.
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भसीन के हसीन शेयर:- IIFL सिक्योरिटीज के संजीव भसीन आज बैंकिंग और फार्मा सेक्टर के इन 2 शेयरों पर हुए बुलिश...
— Zee Business (@ZeeBusiness) June 4, 2020
Bhasin went on to add that his second top pick was Cipla share. He said that Cipla is a healthcare stock and is expected to remain bullish till the Coronavirus impact is visible. He advised investors to buy Cipla shares at Rs 654-656 per stock levels for the short-term target of Rs 683 to Rs 685. However, he advised traders to maintain stop-loss at Rs 643.
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