Anil Singhvi bullish on this PSU stock, suggests buying for up to 78% returns; check target
Anil Singhvi Budget 2024 Pick: Singhvi has given the target of Rs 1,375, Rs 1,650, and Rs 1,875 for Concor. He suggests doing SIP for every seven per cent fall and keep the stock for atleast three years in your portfolio.
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Equity benchmark indices maintained their winning momentum for the third straight session on Tuesday, with the Sensex and Nifty hitting their new all-time peaks, amid foreign fund inflows and a rally in the US markets.
Meanwhile, market wizard and Zee Business' managing editor Anil Singhvi has suggested buying a PSU stock from a long-term perspective.
Anil Singhvi Budget 2024 Pick
Singhvi suggests buying PSU Stock Container Corporation of India (NSE: Concor) for 12-18 months.
Concor share price target
Singhvi has given the target of Rs 1,375, Rs 1,650, and Rs 1,875. He suggests doing SIP for every seven per cent fall and keep the stock for atleast three years in your portfolio.
On Monday (July 15), Concor shares closed at Rs 1,054.3 each. This means the stock has an upside of up to 78 per cent from its last closing price.
Today at 1.42 PM IST, shares of Concor were trading 0.27 per cent higher or Rs 2.9 at Rs 1,059.2 each on BSE.
Why Anil Singhvi is bullish on Concor stock
Market wizard Anil Singhvi says it is a perfect budget pick due to strategic logistics play. This is almost a monopoly share in India. There will be a focus on Gati Shakti Yojana in the budget and it will benefit from the new terminal, and dedicated freight corridor.
"The government's focus is on reducing freight costs. Following previous results, management has a strong growth outlook. This stock is ready for a big rise," Singhvi added.
Concor share price performance
Concor, a company which is engaged in transportation and handling of containers, has provided over 10 per cent returns in three months. The company's shares have jumped more than 22 per cent on a YTD basis, over 50 per cent in a year and 53 per cent in two years.
The market capitalisation of Concor is Rs 64,125.18 crore. Its 52-week high is Rs 1,193.95 and 52-week low is Rs 646.5.
The views/suggestions/advice expressed here in this article are solely by the brokerage firm. Zee Business suggests its readers consult their investment advisers before making any financial decision.
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