Stocks to Buy: Analyst recommends Automotive Axles, Vinyl Chemicals for gains; know what works for them

As we begin 2023, investors can look to find money making opportunities in small cap and mid cap stocks which are currently trading at lower valuations, stock market expert Sandeep Jain said during Zee Business programme ‘Bazaar Aaj Aur Kal’. He recommended two stocks with buy call – one each with a positional term and long term view.     

Stock to Buy: Automotive Axles

Market Expert Sandeep Jain is bullish on auto component sector and said that it will do well in 2023. He recommended Automotive Axles with a positional term view. This stock has been recommended by him on previous occasions as well. He puts a price target of Rs 2130 while a stop loss of 1940.

On Friday, the stock ended at Rs 1995 on the NSE, up by Rs 16 or 0.84 per cent from the last closing price.

Read More: Stock Market Outlook: What technical charts suggest about near term movement of Sensex, Nifty?

Stock to Buy: Vinyl Chemicals

Another stock recommended by him was Vinyl Chemicals India Limited. It is one of his favourite stocks which has given multi bagger return, Janin said.

The stock has corrected significantly from highs of Rs 952.

This stock was recommended by him at levels around Rs 125-Rs150, the Tradeswift Director said. The Pidilite Group company has strong fundamentals and has given 55 per cent returns on capital employed, 40 per cent returns on equity and is available at a PE multiple of 19. It is a zero debt company and has given a profit CAGR of 56 per cent over the past 3 years.

The Rs 900 cr company is sitting on a net profit of Rs 40 crore have.

He recommends a buy for a price target of Rs 570 and Rs 590.     

Read More: Despite headwinds Sharekhan gives buy on Britannia; sees Rs 700 per share gains on double-digit earnings growth potential

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