MidCap Stock Picks with Anil Singhvi: Buy ITD Cementation, AIA Engineering and Welspun India for good returns, says Ambareesh Baliga
Zee Business Managing Editor Anil Singhvi on the Special Mid-Cap Stock Picks show spoke to market analyst Ambareesh Baliga and asked for his short-term, positional mid-cap and long-term recommendations.
Zee Business Managing Editor Anil Singhvi on the 'Special Mid-Cap Stock Picks' show spoke to market analyst Ambareesh Baliga and asked for his short-term, positional mid-cap and long-term recommendations. Baliga picked ITD Cementation, AIA Engineering Ltd and Welspun India under these categories. Let us understand why the analyst picked these shares.
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Long-Term Pick: ITD Cementation
Picking ITD Cementation, the market expert said the company is in infra business. "It makes underground and elevated metros, airports, marine projects, roads and railways tunnels. Currently, it is engaged in many metro rail projects across the major cities in the country. The company also has a very attractive order book of around 12,000 crore. After three bad quarters, December result was very encouraging for the company. It is very likely to do exceedingly well in March Quarter too. It can give 50 per cent upside from current levels. One should buy it for target for Rs 110 in five to twelve months."
Positional Pick: AIA Engineering Ltd
Baliga recommended AIA Engineering Ltd for positional basis. "This company has an added advantage as all sectors that it caters to are doing really well despite Covid 19 pandemic. It also engages customers in about 120 countries, all of which are blue chip customers in mining and related fields. It can reach up to Rs 2250 in mid-term basis, which is a good 22 to 22 per cent return from current levels," said Baliga
Short-term Pick: Welspun India
He said this share has already rallied, but still has good upside potential. "It is a leading home textile exporter. It's big markets are the US and Europe. These countries are already focusing on home front post Covid. The company is also increasing its capacity, which should increase the capacity by about 1200 crore. There could be earning surprise in this quarter like the last two quarters, when it outperformed the expectations. This trigger could take the stock to Rs 98," added Baliga.
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