Railway Stocks to Buy: These 2 Railway PSU stocks are ready to gather steam, know expert target prices and stop losses
Railway Stocks to Buy: Railway stocks are ready to gather steam after correction. Experts have selected 2 Railway PSU stocks for short-term as well as long-term investment.
Railway Stocks to Buy: Domestic stock markets are about to open on Wednesday (May 22, 2024) after closing flat a day ago following sharp fluctuations. Amidst the turmoil in the market, buying was seen in midcap shares as they reached record highs. Experts believe that there is a better opportunity to invest in Railway PSU shares.
Railway stocks are ready to gather steam after correction.
Experts have selected two Railway PSU stocks for short-term as well as long-term investment. These stocks are RITES and IRCON.
RITES Share Price Target
Mehul Kothari of Anand Rathi Shares and Stock Brokers has selected RITES Ltd in his midcap picks.
He has advised to buy the Railway PSU stock from the perspective of 9 to 12 months.
The expert say that this is a Navratna Company.
He says a significant correction has been seen in railway stocks.
After that, there is a rally in the stock for 2-3 months.
The Railway stock has been performing well and there may be further increase in its performance after Lok Sabha elections.
This is an engineering and transport consultancy company.
It provides different services in railways, highways, metro, airports, ports, ropeways, institutional buildings, inland waterways and renewable energy segments.
It is exported to 55 different countries.
The expert has advised to invest in the Railway PSU Stock RITES with a perspective of 9 to 12 months.
He has given a target price of Rs 920 with a stop loss at Rs 620.
On May 21, the share closed at 739.70.
At this price, the stock can give a return of 25 per cent.
IRCON Share Price Target
At the same time, market expert Hemant Jani has advised to buy midcap stock Ircon International for short term.
Buy this Railway PSU stocks with a perspective of 1 to 3 months, says Jani.
He has given a target of Rs 325. On May 21, the IRCON stock closed at the level of 289.70.
At this price, the stock can yield further returns of 12 per cent.
(Disclaimer: Investing in stock market is subject to market risks. Consult your advisor before taking any investment decision.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.