Stocks to Buy: In chat with Anil Singhvi today, Sanjiv Bhasin picks 3 money-making shares - Apollo Tyres, ICICI Prudential and Canara Bank
Stocks to Buy Today: Zee Business Managing Editor Anil Singhvi has been regularly conducting his stock picking exercise to reveal money-making shares to buy for invetsors.
Stocks to Buy Today: At a time when investors are waiting for the market top-out and there is much uncertainty across the global financial system, Zee Business Managing Editor Anil Singhvi has been regularly conducting his stock picking exercise to reveal money-making shares to buy for invetsors. In this regard, the Market Guru talked to Sanjiv Bhasin, Director at IIFL Securities and asked him to give his top picks for traders and investors.
Bhasin responded with these three money-making stocks to buy — Apollo Tyres, ICICI Prudential and Canara Bank. He said that Apollo Tyres and ICICI Pru are for traders while the Canara Bank is for investors.
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Speaking on his stock picks for traders, Sanjiv Bhasin of IIFL Securities said, "My stock picks for traders are Apollo Tyres and ICICI Pru. Both the counters are poised to go upward and one can buy both of them. One can buy Apollo Tyres for the target of Rs 120 to 123 maintaining the stop loss at Rs 109.45 level. For ICICI Pur, one can buy this counter for the target of Rs 442 to Rs 445 per stock levels maintaining the stop loss at Rs 423.45 per stock mark."
He said that in current health scenario post-COVID-19, ICICI Prudential is expected to get strong business and hence it can be a good pick for traders. On Apollo Tyres, Bhasin said that it's conflict with the union at its Netherlands plant has been sorted out and now it is expected to come strong there.
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For investors, Bhasin said, "My pick is Canara Bank. It is trading at around Rs 101 to Rs 102 per stock mark and the way it has recapitalized during the lockdown it's net income is expected to come strong. Apart from this, no extension to bank EMI moratorium is expected to work as a big trigger for the banking stock and hence I am expecting this stock to touch Rs 115 per share levels by the end of July or by 15th August 2020." He advised investors to maintain the stop loss at Rs 96.50 per stock levels.
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