Bajaj Broking recommends buying PSU & largecap; check out targets
The brokerage has suggested buying these stocks from the finance and energy sectors. Here is the list of these stocks along with target prices:
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06:20 PM IST
Stocks to buy for one year: Are you looking for stocks for a one-year investment horizon? Domestic brokerage Bajaj Broking has shared their research report, highlighting major largecap and PSU stocks recommendations that could offer up to 13 per cent returns over a 12-month investment horizon.
The brokerage firm has suggested these stocks from the finance and energy sectors.
Here is the list of these stocks along with target prices:
Analysts bullish on PSU stock
The brokerage has recommended buying PSU NHPC Limited shares with a perspective of 12 months. According to them, the stock could rise up to 13.50 per cent in the period from Tuesday's session closing.
The NHPC stock has recently witnessed a breakout from a falling channel pattern that had governed its corrective phase for the past four months. The stock has also managed to close above its 52-week exponential moving average (EMA), indicating a shift in trend and renewed bullish sentiment, according to Bajaj Broking analysts.
The weekly 14-period relative strength index (RSI) has generated a fresh buy signal, the brokerage said.
Analysts recommend buying the PSU NHPC stock with a target of Rs 97 with a horizon of 12 months.
IDFC First Bank Shares: Rebound from key support zones
The second recommendation from Bajaj Broking is from the finance and banking sector. Analysts have a ‘buy’ stance on IDFC First Bank shares.
“The stock is currently showing signs of a rebound after taking support at key historical levels established in December 2022 and April 2023. This price action highlights underlying buying interest near its support zones,” Bajaj Broking said.
“IDFC First Bank shares appear poised to break out of a falling channel that has encapsulated the stock’s decline since June 2024,” according to the brokerage.
The brokerage has suggested buying shares for a target price of Rs 69 for a one-year horizon. The given target implies a potential upside of 11.29 per cent in the next 12 months.
(Disclaimer: The views/suggestions/recommendations expressed here in this article are solely by investment experts. Zee Business suggests its readers consult their investment advisers before making any financial decision.)
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