Undertone positive despite market volatility, Sanjv Bhasin tells Anil Singhvi; recommends buy on Ashok Leyland, Mahanagar Gas, sell on HDFC

In the latest episode of 'Bhasin Ke Hasin Share', Managing Editor of Zee Business Anil Singhvi spoke to Sanjiv Bhasin, Director of IIFL Securities Ltd, about his stock recommendations and outlook concerning the falling share market.

Looking at the global cues and weak performance in the NASDAQ futures market, Bhasin believes that this current state of the market is going to continue for a few days. Apart from this, he mentioned that after seeing the rally, he believes it is the season of results. 

While on the other hand, the undertone in the Indian market is believed to be positive, Bhasin claimed. He emphasized the good local reopening in trades like auto and gas utility.

Apart from this, the lenders like HDFC and others are also expected to increase their rates. Hence it is imperative to be cautious because there's a chance of a rise in the cost. 

Bhasin suggests picks, so investors can hedge their positions and are able to digest the volatility in the market.

Buy – Ashok Leyland

He expects this share to reach new highs because the numbers of these stocks are high, and it is also gaining new market shares. Besides, the small utility vehicle – ICV from Ashok Leyland is also doing great.

Price – Rs 135

Target Price – Rs 145 - Rs 148

Stop Loss – Rs 131

Buy – Mahanagar Gas Ltd

The reopening of gas and the reopening of Maharashtra is going to push this share. Apart from this, he also mentioned that its shares had been evaluated at a low price, which is attractive despite the shares being an underperformer.

Price – Rs 842 - Rs 844

Target Price – Rs 900

Stop Loss – Rs 818

Sell – HDFC

The results for HDFC came on February 1, 2022.

Price – Rs 2577 - Rs 2585

Target Price – Rs 2520

Stop Loss – Rs 2625

For more details, Watch Full Video Here:-

जानिए IIFL सिक्योरिटीज के संजीव भसीन ने आज किन स्टॉक्स में दी खरीदारी और बिकवाली की राय ?@AnilSinghvi_ | @sanjiv_bhasin | @iiflsecurities pic.twitter.com/80sNs2PutI

— Zee Business (@ZeeBusiness) February 3, 2022