Stocks to Buy With Anil Singhvi: MNC giant GSK Pharma is Sandeep Jain pick today
Stocks to Buy With Anil Singhvi: Market analyst Sandeep Jain said that his pick today is from the pharma sector. He picked GSK Pharma. He said that the Pharma sector has done well, but GSK Pharma has underperformed in the sector and that he expects a good move on this counter going forward
Stocks to Buy With Anil Singhvi: Market analyst Sandeep Jain said that his pick today is from the pharma sector. He picked GSK Pharma. He said that the Pharma sector has done well, but GSK Pharma has underperformed in the sector and that he expects a good move on this counter going forward.
Jain said that downside risk on GSK Pharma stock is minimal and the stock should be bought at current levels. This is an MNC and there are no issues in terms of quality of this company and also it is quite well known. Return of Capital is near 33, and the dividend yield rollout of the company is 1.5%. The equity of the company is small and Q3 FY 21 results of the company were extremely strong. They clocked in at the highest every profit. In fact, when compared to the last 4 quarters, GSK Pharma's Q3 FY21 was the best ever quarter for the company.
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Sandeep said that GSK Pharma share price has good support near Rs 1350 – Rs 1390 range and the stock has not witnessed a good move as yet. He said buying stock at current price would be a good strategy as the risk-reward is favourable. The target price on GSK Pharma stock is Rs 1650 – Rs 1700.
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Jain said that the fundamentals of GSK Pharma are extremely strong. Pharma sector being a defensive bet will see good buying from here on. He said that trading in defensive stocks would be a good bet for investors considering the current volatility in the market.
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