Top stocks to buy: Sanjiv Bhasin recommends SAIL, NALCO stocks for robust returns
Stocks to Buy: Stock Markets are pricing in everything ahead of the US Fed meeting and markets are expected to witness a very strong rally from 4 May, IIFL Securities Director Sanjiv Bhasin tells Zee Business during the latest edition of ‘Bhasin Ke Hasin Share’.
Stock Markets are pricing in everything ahead of the US Fed meeting and markets are expected to witness a very strong rally from 4 May, IIFL Securities Director Sanjiv Bhasin tells Zee Business during the latest edition of ‘Bhasin Ke Hasin Share’.
The reason behind his optimism was the robust GST collections, the numbers of Ultratech Cement. However, looking at the number of TATA Chemicals and TATA Motors, it says that there is an unforeseen bearish movement due to the Foreign Institutional Investors (FIIs) selling.
The reason behind the FIIs selling is due to the concerns regarding liquidity in the market, Bhasin claimed.
Bhasin was extremely bullish on SAIL and NALCO.
The two picks, according to Sanjiv Bhasin, are:-
Steel Authority of India Limited (SAIL)
Steel prices are headed up, and the earnings before interest, taxes, depreciation, and amortization (EBIDTA) margins will be the highest ever, Bhasin said.
Price: Rs 95
Target Price: Rs 105 - Rs 107
Stop Loss: Rs 92.5
NALCO
Bhasin claimed that aluminium prices are headed up.
Price: Rs 105
Target Price: Rs 115 - Rs 117
Stop Loss: Rs 102
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