Shares to buy today: Here are the top stocks that investors can think of before investing, say experts
Various market experts are suggesting equity investors to think of Jindal Steel and Power Limited, IRB Infra Developers Ltd. and Apollo Tyres stock before taking any position in markets today.
After trading range bound in around 200 point of difference, the Nifty once again failed to brak the psychologival 11,000 levels. However, the market bulls had a sigh of relief as the 50-share index closed above 10,900 levels — an indication that any positive swing in early trade session on Fed Chief's dovish stand on interest rates and strong US data may still pull Nifty above 11,000 mark. So, the investors are eagerly waiting for the market opening but our experts have a caution for them that they should avoid over leverage and focus on the stocks which have strong fundamentals.
So, here are the top stocks that our experts suggests for the market investors to think of before taking any position:
1] Jindal Steel and Power Limited
Despite fall in steel prices, JSPL’s standalone steel realization improved QoQ on the back of better product mix. However, volume fell due to lower inventory buildup at customer end in Dec’19 because of significant fall in steel prices in Dec’19. Oman business volume and margin continue to remain impacted by falling rebar prices in Middle East. Higher coal cost and coal availability issues continue to impact JPL’s performance.
On what should be the position that an investor can take in JSPL counter Sagar Sharma, Research Analyst at Narnolia Financial Advisors told Zee Business in a research report document, "Fundamentals of the counter suggests an upside potential for near 45 per cent. An investor can take a buy position in the stock for the target of Rs 190 per share." Currently the stock is hovering around Rs 130 per counter levels.
2] Apollo Tyres
Despite some slowdown in the OE demand across most segments, advantage of lower Chinese TBR imports, steady growth by the company in the replacement demand and higher European sales led to Apollo Tyres’ Q3 FY19 consolidated revenue growth of 17 per cent Year on Year (Y-o-Y).
On what position an invetor can take in the counter Mayur Malik, Research Analyst at IndiaNivesh informed Zee Business online in its research report, "The counter looks fundamentaly strong and shwoing an upside potential of around 33 per cent." The report says that an investor can buy the counter for the target of Rs 270 per counter. Currently, the shares of Apollo Tyres are oscillating around Rs 200 per counter levels.
3] IRB Infra Developers Ltd.
IRB has been able to achieved financial closure of all the 3 HAM projects in stipulated time period whereas the industry is struggling to get projects financially closed. Company has received appointment date of Vadodara Kim Expressway and work has commenced but 2 Tamil Nadu projects are facing land acquisition issue and management expects delay in appointment date. Both the projects contribute around 26 per cent to the overall order book and 39 per cent to the projects yet to commence.
Aske about the position an investor can take in the counter Sandip Jabuani, Research Analyst at Narnolia Financial Advisors informed in a detailed research report, "The fundamentals of the stock looks positive and shows an upside potential swing of around 26 per cent. An investor can buy the stock for target of Rs 175 levels." Currently, the counter is oscillating around Rs 140 per stock levels.