Midcap stock to buy for 2-3 days: MOFSL suggests buying this sugar stock; check out target price
The stock market began in red today as investors awaited the Reserve Bank of India's (RBI) monetary policy statement.
Sensex and Nifty
The Sensex began 242.27 points down at 79,225.74, while the Nifty slid 74.75 points to 24,222.75.
Sensex and Nifty after RBI policy rate
The equity benchmark indexes Sensex and Nifty fell further on Thursday after the Reserve Bank of India opted to maintain the policy rate steady for the ninth time in a row, citing persistent food inflation.
What dragged down the Indian market
Foreign capital outflows and negative trends in US markets also dragged down local shares.
Sensex, Nifty 50: Current price
At 12.28 PM IST, BSE Sensex was 0.14 per cent up at 79,580.13 while Nifty 50 was 0.053 per cent up at 24,311.50.
Motilal Oswal Financial Services' technical pick
Meanwhile, brokerage Motilal Oswal Financial Services Ltd (MOFSL) suggests buying a sugar stock for 2-3 days.
Stock to buy for short-term
MOFSL has chosen Balrampur Chini Mills stock as its technical pick.
Target of Balrampur Chini stock
The brokerage has given a target of Rs 520.
Balrampur Chini's last closing price
On Wednesday, shares of Balrampur Chini closed at Rs 492.4 apiece.
How much return is expected in 2-3 days?
This way the stock can provide returns of up to six per cent from its last closing price.
Balrampur Chini share price history
So far this year the stock has given 20 per cent return. The stock has given a return of 26 per cent in six months and 30 per cent in three months. The stock has shown a rise of about 17 per cent in one month.
52-week high and low of Balrampur Chini
The 52-week high of the share on BSE is Rs 499.25 and the low is Rs 343.45. The market cap of the company is more than Rs 10,130 crore.
The views/suggestions/advices expressed here in this article are solely by investment experts. Zee Business suggests its readers consult their investment advisers before making any financial decision.