Which stocks to buy? IDFC, Bank of Baroda, Ambuja Cements and other shares analysts recommend

Stocks to buy today: In conversation with Zee Business Managing Editor Anil Singhvi, market experts Rakesh Bansal, Sumeet Bagadia, Kunal Saraogi, and Ambareesh Baliga share their top recommendations for the March 22 session.

Stocks such as IDFC, Bank of Baroda, Ambuja Cements and Bharat Forge are on their 'buy' list today.

Here's what Rakesh Bansal, Sumeet Bagadia, Kunal Saraogi, and Ambareesh Baliga recommend for the March 22 session in this instalment of the special 'Pick of the Day' segment on Zee Business:

Buy IDFC shares | Target: Rs 85 | Stop loss: Rs 76

Market expert Rakesh Bansal believes that IDFC looks promising on technical charts and it has established a rounding bottom pattern formation in the last four sessions.

Besides, the company through an exchange filing on Tuesday said that it has completed all stages of ‘Corporate Simplifications’ and the next step is the amalgamation with IDFC First Bank, which is likely to be completed by the end of FY23.

Buy Bank of Baroda shares | Target: Rs 169/172 | Stop loss: Rs 159.5

According to the Zee Business panelist Kunal Saraogi, banking stocks lately have been showing good momentum. He believes the correction in Bank of Baroda is seen completed as the scrip is hovering towards a support zone.

The market expert expects that the stock may extend its gaining streak after a major bounce shown on Tuesday and recommends investors to ‘buy’.

Buy Ambuja Cements shares | Target: Rs 380/390 | Stop loss: Rs 360

Choice Broking Executive Director Sumeet Bagadia said Amubja Cements shares have shown a bounce back on the chart and believe a possible upside movement as the stock was in a consolidation phase for the last few days. He suggests investors to ‘buy’ expecting a pullback in the stock from the current price.

Buy Bharat Forge shares | Target: Rs 1,050

Market expert Ambareesh Baliga recommends to ‘buy’ Bharat Forge shares as the company is a leader in auto components export and also reported good earnings growth in the December quarter of this fiscal.

Bharat Forge is expanding its presence in the electric vehicles and defense segment and these two sectors would be the major exponential growth driver for the company, going forward, Baliga believes.

Moreover, the robust demand for passenger and commercial vehicles would also eventually aid Bharat Forge, the market expert also added.

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