Stocks to Buy – Mastek Limited – Analyst Sandeep Jain puts his bet on this share – know what will drive this stock on NSE

Stocks to Buy - Mastek Limited - Stock Market expert Sandeep has recommended a stock pick for high gains with a long term perspective. The stock he picked was Mastek Limited. This stock has been picked for a Buy call on Monday. Calling this an excellent stock the TradeSwift Broking Director said that this company has been in operations since 1982.

Mastek is an Information Technology services company with customers in UK, US, Middle East, Asia Pacific and India across 41 countries.

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This stock was previously recommended by him in a popular TV show ‘Jain Sahab Ke Jems’. He said that the company is know for its quality and the top investors have invested in this company, he further said.

The stock ended at Rs 2589 on Friday on the NSE, down by 0.12 per cent or Rs 3 from the last closing price on Thursday.

It achieved its 52-week high of Rs 2875 on 22 July 2021 while the 52-week low stands at Rs 670, which this stock hit on 1 September 2020.

Jain has recommended this stock for a target price of Rs 2950/Rs 2990. He has a 9-12-month view on this stock.

He said that this stock is reasonable in terms of valuations too.

While he has recommended this stock, he has advised the Indian Investors to remain cautious of the current market movements, considering the Friday correction in the stock markets. He said that there has been a bloodbath in the mid cap and small cap stocks over several trading sessions. Nifty, however managed to hold itself.

The Indian Stock Markets witnessed sharp decline on Friday amid weak global cues. NSE Nifty 50 fell by over 118 points or 0.71 per cent to settle at 16,450.50. Meanwhile, the BSE Sensex ended at 55,329.32, down by over 300 points or 0.54 per cent. Nifty Bank fell by over 520 points on the last trading session of this week to settle at 35,033.85.

Jain also recommended Colgate Palmolive shares as his Monday buy. This is from the Futures & Options (F&O) segment, he said. The stock ended at Rs 1670 on Friday on the NSE, up by almost Rs 2 0r 0.13 per cent. Though it did not have a significant participation on Friday.

He puts the target price at Rs 1730-Rs 1750 while the stop loss at Rs 1650.  

Stock to Buy on Monday – Precision Wires India Limited – He recommended Precision Wires shares for a Buy on Monday. It was recommended as an intraday cash market pick. He said that any position in this stock should be taken depending upon the mood of the markets. He puts the target price at Rs 240 while the stop loss at RS 220.

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This stock ended at Rs 225.90 on the NSE on Friday, up by almost 1.9 per cent from the previous closing price on Thursday.