In a conversation with Zee Business Managing Editor Anil Singhvi, IIFL Securities Director Sanjiv Bhasin picked Mphasis and IEX as the best bet for good returns and expected potential growth of up to 7 per cent in these stocks.

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Bhasin sees an upside of up to 7 per cent in Mphasis shares with a target price of Rs 3350 per share. He sets a stop loss of Rs 3000 per share and suggested to Buy the shares in the range of Rs 3085-3090 a share.

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Another pick IEX – IIFL Director expected the volumes of the company will be surprising and the fourth quarter FY22 earnings will report the highest numbers ever in its history. He sees around a 5 per cent upside in the stock with a target of Rs 242-245 per share and a stop loss of Rs 227 per share.

In a chat, the market expert also reiterated to Buy HCL Technologies, Tech Mahindra, and Persistent Systems on declines and mentioned that these stocks will outperform the IT pack.

Individually, he said, HCL Tech is doing good ins BFSI (Banking and Financial Service, Insurance) space and Tech Mahindra is seeing a lot of deal wins from the telecom category.

While Persistent Systems is excelling themselves in cloud computing and the digital sphere, said IIFL Director, estimating that the stock price of Persistent may surge to Rs 4850 per share in 10-15 days.

IT major Infosys is scheduled to release its March-end quarter results for FY22 on Wednesday, April 13, 2022. On this, Bhasin mentioned that Infosys guidance is likely to show a cascading effect on other stocks from the IT pack.  

Shares of HCL Tech were trading around 0.5 per cent higher to Rs 1140 per share; Tech Mahindra was down nearly 1.5 per cent to Rs 1427.5 per share and Persistent was down around 2.5 per cent to Rs 4401.55 per share on the BSE.