Diwali 2021: Sanjiv Bhasin picks these two PSU stocks for good returns

In the latest edition of 'Bhasin ke Haseen Share' with Zee Business Managing Editor Anil SInghvi, IIFL Securities Director Sanjiv Bhasin recommended two stocks on the occasion of Diwali.  

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Talking about his earlier stock picks, Bhasin said his two picks—GAIL and NTPC — have achieved targets, but Hindustan Aeronautics Ltd (HAL) was yet to pick up. He said though HAL has not performed, but the target remains intact for this share at Rs 1365. Both Shorts, Hindalco and Tata Steel, have also helped investors mint money, said Bhasin.  

He said his two long-term large cap picks remain TCS and Eicher Motors.

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

— Zee Business (@ZeeBusiness) November 3, 2021

IIFL Securities Director picked shares of two government companies on Wednesday. Sanjiv Bhasin's two stock picks were Bharat Electronics Ltd (BEL) and Indian Oil Corporation Ltd (IOC)

Picking BEL, Sanjiv Bhasin said he has identified it as there is good momentum in defence stocks. "One should buy this PSU defence share in the range of Rs 203 to 203.50. The target for this share is Rs 209, while the stoploss is Rs 196."

Bhasin said he has picked another stock based on strong result posted by this company. Recommending IOC, he said the company has announced Rs 4 per share dividend for shareholders. " One should buy this share around Rs 127 for a target of Rs 133 to Rs 133.50. Place stoploss for IOC at Rs 123.40," added the market expert.  

IOC stock was trading nearly Rs 4 up its previous closing. IOC stock price stood at Rs 134.75, up 3.95 or 3.02%, while BEL was also up 1.77% or Rs 3.55 at Rs 204.15 on NSE in Wednesday's intraday trade.