Buy, Sell or Hold: What should investors do with Strides Pharma, MRPL and IEX shares?

Extending gains for the fourth session, the Indian market ended higher by around one per cent aided by positive global cues. The broader Nifty50 gained 0.11% to close at 15,850, while the Sensex ended marginally higher at 53,177.   

The broader market saw a mixed closing with Nifty midcap gaining 0.29%, while the smallcap index declining 0.34%.  

Support mainly came from Metal, Auto and IT stocks as they ended higher by 1.6%, 1.25% and 0.6% respectively.  

"After a gap down opening, domestic indices were lifted by positive global peers, while oil prices rose over renewed supply concerns. The weakened rupee and rising bond yield limited domestic investors’ risk appetite. Gains in commodity-linked stocks and optimism over easing Covid restrictions in China aided the global up-move," said Vinod Nair, Head of Research at Geojit Financial Services.  

Meanwhile, certain stocks came in focus on Tuesday. These stocks were Strides Pharma, Indian Energy Exchange (IEX) and Mangalore Refinery and Petrochemicals Limited (MRPL). Strides Pharma gained nearly six per cent, IEX rose five per cent and MRPL closed with almost 10% gains on Tuesday.  

Here is what Akhilesh Jat, Category Manager - Equity Research, suggests what investors should do with these stocks.  

 
Strides Pharma Science Limited: 
Buy: 352; SL: 340; TGT: 375 
Shares of Strides Pharma Science Limited surged over 5 per cent to on the NSE in Tuesday’s intra-day trade after positive outcome of COVID-19 vaccine trials. The stock is coming out of nearly one month consolidation and rallied over 46 per cent from its 52-week low. Momentum oscillators RSI continue its Higher Low formation and MACD indicator sustaining above zero levels with positive crossover. 
 

Indian Energy Exchange Limited: 
Sell below 165; SL: 171; TGT: 156 
After three consecutive positive close shares price of Indian Energy Exchange Limited (IEX) declined over 4 per cent intraday on 28 June 2022 and sustaining near to its ten months low. Stock is trading in Lower High & Lower Low formation and momentum oscillator RSI is below the centerline suggesting further downside movement in the price 

Mangalore Refinery and Petrochemicals Limited: 
Buy: 91; SL: 87; TGT: 99 

As on 28th June 2022, the share price of Mangalore Refinery and Petrochemicals Limited opened on a positive note and traded positive sentiments throughout the sessions to hit its 10 per cent upper circuit. Stock prices rebounded sharply after the consecutive losing streak and it is trading above its 21,50&200-Days Exponential Moving Averages. Momentum oscillators RSI head upward and stood above the centreline which suggested a positive movement. 

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