Stocks To Buy With Anil Singhvi: Kennametal India picked by market expert Sandeep Jain - Know fundamental, triggers and target

In yet another episode of Jain Sahab Ke GEMS, Zee Business Managing Editor and Market Guru Anil Singhvi spoke to Market Expert Sandeep Jain. The latter picked Kennametal India Ltd stock for high returns.

Talking about the company, Sandeep Jain said the quarterly results are amazing.

Kennametal India is a 75% subsidiary of the US's Kennametal Incorporated. So, the company's 75% of the shareholding is with the promoters. The 13% - 14% are with the foreign institutional investors (FII) and domestic institutional investors (DII). So, mainly the floating stock remains low in the market. Also, people generally do not buy these stocks for sale.

It is also not so expensive in terms of valuations, Jain added.

There have been many provisions in this budget related to the Capex push and it is a big beneficiary because the company makes carbide tools and special purpose tools like for defense, railway, infra. That is why Jain thinks this is a big beneficiary.  

Taking about the December results, Jains said the company goes from Rs 13 crores PAT to Rs 30 crores. That means, the company continuously grew and gave the highest ever quarterly profits - 21 crores, 22 crores, 28 crores, and 30 crores - 4 quarter results respectively.

The market expert explained Kennametal India is a 4200 crores company, that is why they get expensive valuations. But if there is a company with M&C ​​and also has low floating stocks, then that type of valuation is good to go with.

Maybe the market is a bit sluggish today, Jain said and suggested buying this stock as it is a good chance to buy.

Buy: Rs 1919
Target: Rs 2190/Rs 2250

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जैन सा'ब के GEMS ...

आज Kennametal India को क्यों चुना संदीप जैन ने ?

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