Stocks to buy: Analysts suggest buying these 2 stocks for 30 days, check targets
Stocks to buy: As the share market is at its all-time high, preparations are going on for full budget and the market outlook is positive, brokerage Axis Direct has suggested two stocks to buy for just 30 days. Axis Direct has recommended buying IEX and IRB Infrastructure for 30 days.
Stocks to buy: The Indian benchmark indexes closed down on a very turbulent day on Friday, June 21, with the Nifty at 23,500. The Sensex fell 269.03 points, or 0.35 per cent, to 77,209.90, while the Nifty dropped 65.90 points, or 0.28 per cent, to 23,501.10.
As the share market is at its all-time high, preparations are going on for full budget and the market outlook is positive, brokerage Axis Direct has suggested two stocks to buy for just 30 days.
Stocks to buy
Axis Direct has recommended buying IEX and IRB Infrastructure for 30 days.
IEX share price target
The share of IEX i.e. Indian Energy Exchange is at the level of Rs 182. The brokerage suggests buying the stock at this level and has given the target price of Rs 200 and a stop loss of Rs 173. This week the share made a new 52-week high of Rs 188 and low of Rs 179. The stock has risen by 1 per cent this week, 11 per cent in two weeks, 13 per cent in one month, and 33 per cent in three months. This is an electricity exchange. Due to the way the heat is falling, there is good action in the power sector and proxy sector.
IEX Q4 earnings
The Indian Energy Exchange (IEX) posted a 9.5 per cent rise in consolidated profit after tax at Rs 96.7 crore for the March 2024 quarter on account of higher income.
It had clocked Rs 88.34 crore profit after tax (PAT) during the fourth quarter of the last fiscal, the company said in an exchange filing on Wednesday.
The company's total income rose to Rs 149.28 crore, from Rs 129.58 crore in January-March FY23. The Board of Directors of the company announced a final dividend of Rs 1.5 for FY24.
IRB Infrastructure share price target
The second choice of brokerage is transport infrastructure giant IRB Infrastructure. This share is at the level of Rs 66. This week the share has made a high of Rs 68 and a low of Rs 64. The stock has fallen by 1.3 per cent this week and by 14 per cent in two weeks. On June 7, the stock reached an all-time high of Rs 78. There is an opportunity for a good fall entry after the recent block deal. A target of Rs 72 and a stoploss of Rs 62 has been given by the brokerage.
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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