Stock to Buy Before Budget: Anil Singhvi suggests buying this infra stock for up to 75% gains; check out target
Market wizard Anil Singhvi suggested buying an infrastructure stock from a long-term perspective before the budget speech.
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The Indian stock market on Friday continued its rise for the fourth straight day as Finance Minister Nirmala Sitharaman presented the Economic Survey 2024-25 in Parliament ahead of the Union Budget 2025-26.
The Economic Survey pegs India's GDP growth at 6.3-6.8 per cent for 2025-26.
The BSE Sensex touched an intra-day high of 77,549.92 before closing at 77,500.57 by gaining 740.76 points or 0.97 per cent. The NSE Nifty ended 258.90 points, or 1.11 per cent, higher at 23,508.40. The index moved between 23,530.70 and 23,277.40 during the day.
Meanwhile, market wizard Anil Singhvi suggested buying an infrastructure stock from a long-term perspective before the budget speech. Investors who are looking to buy stocks before budget and couldn't buy today, still have a chance to buy as the Finance Minister will start the budget speech at 11 AM tomorrow.
Stock to buy before Budget 2024
Anil Singhvi, Zee Business managing editor has chosen IRB Infra Developers stock. He has given a first target of Rs 70, a second target of Rs 85 and a third target of Rs 100.
He has advised buying IRB Infrastructure shares for the next 1-3 years. SIP in shares has to be done for every 10 per cent fall, according to him.
"Navi Mumbai airport is going to start. Due to this, the company's toll collection from its surrounding areas will increase. The order book of the company is more than Rs 32,000 crore. The company's biggest problem is its huge debt. However, the solution is being found through INVITs. There is healthy growth in toll collection. In terms of valuation, it is much cheaper than peers NCC. In such a situation, long term investors can keep it in their portfolio.
Today (January 31), the shares of IRB Infrastructure closed at Rs 57.3 each, up seven per cent from its last closing price. This means the stock has a potential upside of around 75 per cent from its last closing price.
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