Stocks to Buy With Anil Singhvi: Why Sun Pharma, Bandhan Bank are best bets for investors - Sanjiv Bhasin explains

Stocks to Buy With Anil Singhvi: Analyst Sanjiv Bhasin today said that Nifty is unlikely to come down to 10,800 levels as per his earlier estimates. He told Zee Business Managing Editor Anil Singhvi that investors must remain cautious and hedge their investments. Investors should protect themselves against all eventualities at all times, the IIFL Director said. 

Notably, Bhasin has been bullish on PSU stocks for a while now. His recommendations on Thursday in the TV show ‘Bhasin Ke Hasin Share’ were primarily from this segment, including HPCL, BPCL, IOC, REC, PFC and IGL. He said that investors should book profits whenever there is an opportunity.

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भसीन के हसीन शेयर: बाजार के आउटलुक पर क्या है राय...साथ ही गणेश चतुर्थी के शुभ अवसर पर संजीव भसीन से जानें, विघ्नहर्ता शेयर@IIFLMarkets @sanjiv_bhasin pic.twitter.com/OktqDTCsDf

— Zee Business (@ZeeBusiness) August 21, 2020

Today he suggested two more stocks and both were the Buy calls.    

Top Stocks to Buy: Sun Pharmaceuticals 

His first recommendation was Sun Pharmaceuticals. This company's stock has been underperforming from the last 3 trading sessions, he said. Sun Pharmaceuticals has received an approval from the USFDA for its Halol plant. This plant contributes around USD 1.5 billion of revenue output. This could be a big precursor to what lies ahead, the Director said. The formulation business at this plant is very well placed, Bhasin said.   This stock is currently trading around Rs 535. He puts the target price at Rs 575 with a long term view. Traders can book profits at Rs 550.   

Top Stocks to Buy: Bandhan Bank 

Another stock picked by him today was Bandhan Bank. This stock is currently trading around Rs 292. He puts the stop loss at Rs 290 and the target price of Rs 310. He said that many investors might not know that Gruh Finance has also merged with the company which he referred to as “Small Ticket HDFC”. It does business at a ticket size of Rs 15 lakhs. He said that that he expected the share price to reach Rs 350 by Diwali. 

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Gruh Finance, which started operations as a part of HDFC, merged with Bandhan Bank in October 2019.