80% return in one year: Brokerage suggests buying this Maharatna PSU stock for 2-3 days, check target

The stock market closed in red for the third consecutive day, knocked down by a slew of disappointing March quarter reports and anxiety around the upcoming 2024 Lok Sabha elections. 

The Sensex, which began higher at 73,499.49, failed to maintain its pace and closed at 72,404.17, down 1,062.22 points, or 1.45 per cent. The blue-chip NSE Nifty 50 settled at 21,957.5, down 345 points, or 1.55 per cent.

Meanwhile, brokerage Motilal Oswal recommended buying this Maharatna PSU Stock from a short-term perspective. 

PSU Stock to buy

The brokerage suggested buying gas transmission and marketing company GAIL India stock for 2-3 days.

Motilal Oswal has chosen GAIL as a technical pick from a 2-3 day perspective. The target has been kept at Rs 215. On May 9, 2024, the shares of the company closed at Rs 194.3 each. In this way, the stock can rise more than 10 per cent from the current price.

GAIL stock performance

In the last one year, the Maharatna PSU stock has given almost 80 per cent returns to its shareholders. While the stock has provided around 17 per cent returns on a year-to-date YTD) basis, and 55 per cent in six months. However, the company's shares declined 4 per cent in the last month.

Disclaimer: The views/suggestions/advices expressed here in this article are solely by investment experts. Zee Business suggests its readers to consult their investment advisers before making any financial decision.