150% return in one year: Brokerage suggests buying this auto ancillary stock for up to 15% gain, know target price

Stock to buy: After recovering on Friday (May 10) last week, the Indian stock market came under selling pressure again, with major indexes losing up to one per cent in the early morning session. Volatility increased with the fourth phase of the Lok Sabha elections today, May 13.

The BSE Sensex was trading over 375 points lower at 72,290.011,900 level while Nifty50 was trading at 21,950, down 97 points at 1.42 PM on Monday.

Despite this, market analyst Sandeep Jain recommends buying an auto ancillary stock for a long-term perspective. 

Stock to buy

Jain suggests investors buy Automobile Corp of Goa. The analyst said that he is choosing this stock for purchase for the third time. The analyst said that he is offering this stock for purchase from the level of Rs 1,400 and is once again bullish. This stock has corrected from the level of 2,300 and is now trading at this level.

Automobile Corp of Goa - Share price target

The stock is currently trading at Rs 2,053 each, up 1.36 per cent on BSE today at 1.38 PM. The analyst has given a target price of Rs 2,350/2,390.

Why to buy Welspun Living stock

The analyst said that this company supplies 40-50 per cent of the products to Tata Motors and earns a good profit out of it. The company has also recently done a buyback of shares. Analyst believes that this stock can be included in the portfolio from a short to long-term perspective.

Automobile Corp of Goa stock performance

The company has provided returns of almost 40 per cent in the last six months and over 45 per cent on a year-to-date (YTD) basis while its shares jumped more than 150% in the last one year.

(The views/suggestions/advices expressed here in this article are solely by investment experts. Zee Business suggests its readers to consult their investment advisers before making any financial decision.)

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