Buy RBL Bank, Manappuram Finance, sale Bajaj Finance: Sanjiv Bhasin
Market analyst Sanjiv Bhasin on Tuesday spoke to Zee Business and gave his two picks going forward
Stocks to buy: Market analyst Sanjiv Bhasin on Tuesday spoke to Zee Business and gave his two picks going forward. Before recommending his picks, he gave an update about his previous recommendations. He said he had vouched for Godrej property at Rs 1,000 in the morning trading session, which went on to register 5% jump to reach Rs 1055.
He said he had also recommended Adani Port one day before Diwali for Rs 367 target and it achieved Rs 377.
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Giving a channel check, he said in terms of auto sales during Diwali, state Bank has been number 1 and margin on rate of interest is less, so NBFCs are going to be losers. Also, in gold loan, only Muthoot Finance and Manappuram Finance have been able to increase their market share, he said. Bhasin said startling fact is that there is also no comfort in valuation of Bajaj Finance and recommended to sell it.
Meanwhile, he chose RBL as his first pick. Bhasin said RBL Bank could be a dark horse in personal loan and other categories and likely an out performer. He suggested to buy around Rs 209 for a target of Rs 225. He put a stoploss at Rs 205.
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Bhasin’s second pick was Manappuram Finance. He suggested to buy the stock around Rs 161 for target of Rs 178. He suggested to maintain a stoploss of Rs 158.50 for this stock.
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