Stocks to Buy: IRCTC, JSW Steel, PNB are top counters for high returns, says Sanjiv Bhasin

In today’s edition of ‘Bhasin Ke Hasin Share’ expert Sanjiv Bhasin rejected bearish views of global fund managers on the stock markets saying that there will never be an ideal situation to invest in markets. Earlier there was Russia-Ukraine war and now fears of inflation. There will always be people who have a bullish view on the markets and those with a bearish view at any point in time, he said.

He said that while speaking to Zee Business Managing Editor Anil Singhvi.

He said that investors not miss the existing strength in markets. There is some profit booking which is a routine, more so because today is the weekly expiry day.

Stocks to Buy: He said that there is some upsetting part is the IT stocks where the ownership of Foreign Institutional Investors is signifcantly high and the stocks were overweight. This could be a cause of cncern in Indian and US markets. Nasdaq and IT stocks have underperformed. But this is temporary and markets will improve from next week after the US Fed policy. 

He was bullish on IRCTC shares. He said that data monetsation will be a gamechanger. The stock was recommended at Rs 727 for a price target of Rs 850. The nearterm target is Rs 775 and stop loss of Rs 712, he added.  

Another stock is JSW Steel. Buying at Rs 685 is recommended. Target is Rs 735 and stop loss is Rs 660.  

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PNB: The IIFL Director recommended Punjab National Bank shares arguing that the bank is getting rerated. He said that it will be an outperforming bank. He said that he sees a price target of Rs 65.

He recommends a buy at Rs 40 with a price target of Rs 44 and stop loss of Rs 38.10. 

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जानिए IIFL सिक्योरिटीज के संजीव भसीन ने आज #PNBFut और #IRCTCFut में क्यों दी निवेश की सलाह?@AnilSinghvi_ | @sanjiv_bhasin | @iiflsecurities pic.twitter.com/kgJg5ncHS6

— Zee Business (@ZeeBusiness) September 15, 2022