Top Stocks to Buy Today: In chat with Anil Singhvi, Sandeep Jain says get Aksharchem for big profits
Top Stocks to Buy Today: As the stock market traders are gearing for the August Series from next week, Zee Business has suggested that traders should maintain a stock specific trade strategy.
Top Stocks to Buy Today: As the stock market traders are gearing for the August Series from next week, Zee Business has suggested that traders should maintain a stock specific trade strategy. Managing Editor Anil Singhvi has said that August Series will be extremely volatile and stock specific trade will help investors minimise risk and maximise gains. Moving forward with his drive to unveil money-making stocks for investors, the Market Guru asked Sandeep Jain, Director at Trade Swift, about his stock pick today and the analyst responded by naming Aksharchem India.
Speaking on the technicals and fundamentals of Aksharchem India, Jain said, "Aksharchem India shares are available at a PE multiple of 11, which is quite cheap and attractive. The stock price of Aksharchem India is also below its book value that makes it an ideal buy. Aksharchem India is a chemical company and chemical stocks are performing quite well these days and if we look at its fundamentals, the scrip looks strong as even its last three years CAGR sales values come in at around 20 per cent while its profit in the same period comes to the tune of 9 to 10 per cent." With Rs 12 crore debt, Aksharchem India is almost a debt-free company as well, he added.
See Zee Business Live TV streaming below:
On what should be the strategy that a trader can maintain in regard to Aksharchem India shares, Jain told Anil Singhvi, "Aksharchem India share price is currently at Rs 249 and I advise traders to buy the counter for the first target of Rs 270 and second target of Rs 300."
Watch full coverage in video below:
— Zee Business (@ZeeBusiness) July 31, 2020
However, Jain maintained that stock market from next week is going to become highly volatile and one should book profits immediately after meeting the targets.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.