Sanjiv Bhasin's top picks of the day: Check target price, stop loss, other details
In conversation with Anil Singhvi, Managing Editor at Zee Business, Sanjiv Bhasin, Director-IIFL Securities Ltd picked two stocks that is RBL Bank Ltd and GMR Infrastructure Ltd for profit booking.
In conversation with Anil Singhvi, Managing Editor at Zee Business, Sanjiv Bhasin, Director-IIFL Securities Ltd picked two stocks for profit booking.
He also spoke on the market outlook and said that two things have happened in the US and that too overnight. Bond yields have fallen very sharply in the US which is a good news for India. Yields falling means banks there get hurt and technology becomes easier. For India yields falling means that the threat of inflation will reduce.
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He picked RBL Bank Ltd and GMR Infrastructure Ltd for gains. Giving his outlook on both the stocks, he said:
1. RBL Bank Ltd: The quarterly results of the bank will be out today and it will be very strong, said Bhasin. He advised the investors to buy the stock at the levels of Rs 203-204 and keep a stop loss of Rs 198. He gave a target of Rs 212 and further added that he will not be surprised if RBL reaches Rs 217 in next two days.
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2. GMR Infrastructure Ltd: Bhasin said that GMR Aerocity and encashing of subsidiaries is very powerful. He suggested to buy the stock at Rs 40.25-40.50 and keep stop loss at Rs 39. the target will be of Rs 42.
It can be noted that the shares of RBL Bank were trading at Rs 206.00, down by 2.25 points or 1.08 percent on NSE at 11:37 am. While on BSE it was at Rs 205.70, down by 2.15 points or 1.03 percent.
Meanwhile the shares of GMR Infrastructure were trading at Rs 40.15, down by 0.55 points or 1.35 percent on NSE at 11:37 am. It was at Rs 40.15, down by 0.55 points or 1.35 percent on BSE.
(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
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