Analysts suggest buying this Maharatna PSU stock before Budget 2024-25, know target price for next 2-3 days

PSU Stocks to Buy: On Tuesday, the stock market opened positively with reaching new highs. Amid this bullish trend, several quality stocks appear attractive on the technical charts. Brokerage Motilal Oswal Financial Services Limited has selected Maharatna government stock GAIL as a technical pick for the short term, recommending a position for the next 2-3 days.

The stock market opened with strong momentum on July 16. The Nifty index reached a new record high, surpassing 24,650 for the first time. The Sensex opened 67 points higher at 80,731, while the Nifty opened 29 points higher at 24,615, and the Bank Nifty opened 11 points higher at 52,466. Bharti Airtel, Coal India, and M&M were among the top gainers on the Nifty.

GAIL: Potential for Good Earnings in 2-3 Days

Motilal Oswal Financial Services Limited has identified GAIL as a technical pick, setting a target of Rs 265 for the stock over the next 2-3 days. GAIL closed at Rs 237.10 on July 15, 2024, suggesting an 11-12 per cent potential increase from the current price.

GAIL: 115% Increase In 1 Year

Amid the ongoing bull run, GAIL's trading began with a slight uptick on Tuesday, though profit booking was observed later. Over the past year, GAIL's stock has returned approximately 115 per cent. In the last six months, the return was 41 per cent, and in the past three months, it was 15 per cent. The stock has risen over 5 per cent in the last month. Its 52-week high on the BSE is Rs 239.20, while the low is Rs 108.45. The company's market cap exceeds Rs 1.53 lakh crore.

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