Stocks to buy today: This amazing news makes Sanjiv Bhasin bullish on NBCC, DLF; he explains why to Anil Singhvi

Amazing news is there for the construction and real estate sector! The government is likely to allow Foreign Direct Investment (FDI) in constructed projects in the real estate sector and this will be the biggest relief for this sector, Market Expert Sanjiv Bhasin told Zee Business Managing Editor Anil Singhvi today.

This move to bring foreign investment into the country will bring low cost money – a much needed requirement of the sector, he said. In the chat today with the Market Guru, Bhasin, who is the Director of IIFL Securities, said that this move will help real estate companies including NBCC and DLF.

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भसीन के हसीन शेयर: आज NBCC और DLF पर क्यों बुलिश हुए संजीव भसीन? जानें यहां#ZBizBazaar @AnilSinghvi_ @IIFLMarkets @sanjiv_bhasin pic.twitter.com/4ZS5a0z92G

— Zee Business (@ZeeBusiness) July 20, 2020

NBCC (India) Limited is a blue-chip Government of India Navratna company and is a Central Public Sector undertaking which trades publicly in the market. The analyst said that NBCC was in his radar and this pick and was a cash stock. The NBCC share price is currently trading around Rs 25.50. He puts the stop loss at Rs 23.50 with a target price of Rs 30.

As his second top pick, Bhasin recommended DLF. Its stock is currently trading at around Rs 142.50. Bhasin puts the stop loss at Rs 138.50 and the target price at Rs 150.

Currently, 100 per cent FDI is allowed in construction-development projects through the automatic route. Foreign investments are allowed in townships, residential and commercial buildings, roads, bridges, hotels, resorts, hospitals, educational institutions, recreational facilities and city and regional-level infrastructure.

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Bhasin further said that the trade is currently going strong in the markets and he advised investors to remain invested in PSU stocks. Bhasin had earlier recommended buying Coal India, NMDC and NTPC and State Bank stocks. All these stocks are still look promising, he added. Bhasin said that he was bullish on these stocks and this week will belong to the PSU stocks. He asked investors to remain prepared and confident.