Stocks to buy: 6 midcap shares for bumper returns - check price targets
As the BSE smallcap gauge climbed 0.77 per cent and midcap jumped 0.72 per cent, here are six midcap shares, you can consider buying.
Midcap Stocks to Buy: Benchmark indices ended at fresh lifetime highs on Monday, November 28, amid foreign fund inflows, a decline in crude oil prices and buying in index major Reliance Industries.
In the broader market, the BSE smallcap gauge climbed 0.77 per cent and midcap jumped 0.72 per cent. Among sectoral indices, oil & gas climbed 1.49 per cent, energy (1.44 per cent), auto (0.64 per cent), consumer discretionary (0.59 per cent), industrials (0.46 per cent) and FMCG (0.29 per cent).
Vijay Chopra of Enoch Ventures and Rajesh Palviya of Axis Securities have picked 6 midcap stocks with the potential to yield bumper returns.
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Vijay Chopra's Stocks
1. Indiabulls Real Estate Ltd (Short Term)
It is an old player in the sector and its management has just changed. He said that two of its subsidiaries are slated to be merged with the parent company, adding that the stock is currently at a good level for fresh buying after a healthy correction. Indiabulls Real Estate Share Price Target: Rs 92/95
2. HEG Ltd (Positional)
There have been a lot of corrections on the technical chart in this stock. Its current price is Rs 1045. For 3-6 months, one can buy for a target of Rs 1160.
3. GHCL (Long Term)
Gujarat Heavy Chemical Limited is a big player in industrial chemicals like sodium bicarbonate, caustic soda and soda ash. It is available at cheap valuations, he said, adding that the scrip is fundamentally strong and undervalued. Its current level is Rs 565. The target price for GHCL, according to Vijay, is Rs 630/650 (9 to 12 months).
Rajesh Palvia Stocks
1. Redington (Short Term)
Rajesh said that Redington has given a multi-week breakout on the chart and it has the potential to yield nearly 20 per cent return on short term basis. The stock is currently trading at around Rs 180. He said that the Redington share price target would be Rs 215/225.
2. CEAT (Positional)
Ceat is a leading player in the auto ancillary tire space. This stock has also crossed the high of February 2022. Looking at the chart, it seems that in the coming time, it can see a good upside move. It is currently trading at around Rs 1849. The target will be Rs 1950/2000.
3. Aegis Logistics Ltd (Long Term)
The rounding bottom pattern is visible in the weekly chart. After the correction, there has been an accumulation at the lower level. The stock can show a very good move in the coming months. Its current level is around Rs 339. The target price is Rs 440/460.