Buy IEX, Bharat Forge for gains, says Sanjiv Bhasin of IIFL Securities; gives stoploss, target price

In conversation with Zee Business’ Deepanshu Bhandari, IIFL Securities Director Sanjiv Bhasin shared his outlook for the market and his update on the previous recommendations.

One of the recommendations of Bhasin, Gail has outperformed already. He said that mid-cap IT stocks are going to boom in the market. Despite Infosys being in the weak spot after the Russia-Ukraine conflict, other IT stocks are going to move positively. Mindtree, Persistent Systems, Mphasis, and LTI are expected to be the best performers. 

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Bhasin’s recommendation from the day before was M&M, which has already reached its target price of Rs 82. He reiterated the stock by giving a target of Rs 85 with a stop loss of Rs 81.

He also iterated his recommendation, Aarti Industries, as the agrochemical sector is catching up with the pace. He also suggested buying NLC, which is expected to reach a target of Rs 100 as NLC is the largest player in the lignite sector and the third-largest player in the coal sector. 

The two stocks recommended by Bhasin on Tuesday are:-

IEX

The company’s results are scheduled to be released by April 28, and Bhasin was optimistic that it would come up with robust numbers in Q4. 

CMP: Rs 232

Target Price: Rs 240

Stop Loss: Rs 227

Bharat Forge

As the auto sector is making a comeback, the forging industry is witnessing colossal traction, which makes the Bharat Forge a no-brainer, as per Bhasin.

CMP: Rs 735

Target Price: Rs 765

Stop Loss: Rs 731

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जानिए IIFL सिक्योरिटीज के संजीव भसीन ने आज किन 2 स्टॉक्स में दी निवेश की सलाह?@AnilSinghvi_ | @sanjiv_bhasin | @iiflsecurities pic.twitter.com/Z6dPu60qmK

— Zee Business (@ZeeBusiness) April 19, 2022