Analysts pick PSU NMDC and 1 multibagger stock for up to 28% returns; details inside
Stocks to Buy: Auto, IT, PSU Bank, financial services, pharmaceuticals, FMCG, metals, and commodities were among the sectoral indexes that saw significant gains. Only the consumer durable index ended in the red.
On Thursday (September 26), the benchmark Sensex gained 666 points to conclude at a new record high, boosted by buying in auto and financial equities as global markets rose.
The Sensex rose by 666 points, and the Nifty surpassed the 26,000 barrier, finishing at 85,836 and 26,216, respectively.
Auto, IT, PSU Bank, financial services, pharmaceuticals, FMCG, metals, and commodities were among the sectoral indexes that saw significant gains. Only the consumer durable index ended in the red.
In this record-high market, experts recommended purchasing two stocks for gains of up to 28%. These equities range from short-term to long-term, including Navratna PSU Stock NMDC and Macpower CNC Machines.
NMDC Share Price Target
Brokerage Canara Bank Securities has suggested buying NMDC stock for a first target of Rs 243 and a second target of Rs 255. Investors need to maintain a stop loss of Rs 212.
This way, the stock has a potential upside of up to nine per cent from its today's closing price of Rs 234.5 each.
"The Central Bank of China has reduced the limit of cash reserves to revive the economy. Due to this, demand for metals will be supported and prices will strengthen. As a result, all the companies in the metal sector including steel will benefit and good action is already being seen in these stocks," the brokerage said.
Share price target of Macpower CNC Machines
Market expert Sandeep Jain has chosen Macpower CNC Machines for purchase. The expert said that this share has been offered for purchase for the first time and a correction has been seen in the share recently. Investors can buy this share.
Jain has given a first target of Rs 1,750 and a second target of Rs 1,790. This way, the stock has a potential upside of up to 28 per cent from its today's closing price of Rs 1,397.3 each.
Macpower CNC Machines' fundamentals
The expert said that this company has a good presence in the country and the client deal of the company is very good. It works as an auxiliary of the company's defense. The company's quarterly results were also excellent. The market capitalisation of the company is Rs 1,300 crore. Last quarter the company had a profit of Rs 65 crore.
"The company's return on equity is 22 per cent. Sales growth in the last three years has been 28-29 per cent. Apart from this, the growth of profit has been 60 per cent. The promoters' stake in the company is also good. At the same time, the share of domestic and foreign investors is also fair," said Jain.
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