3 midcap defence PSU stocks to buy for short to long term, check MOFSL's targets and stop losses
The 30-share BSE Sensex rose 620.73 points, or 0.80 per cent, to a fresh closing high of 78,674.25 on Wednesday, June 26.
The stock market benchmark indices Sensex and Nifty rose for the third consecutive day on Wednesday, June 26, closing at new all-time highs in tandem with Asian counterparts and buying in Reliance Industries.
MOFSL picks 3 defence stocks
Here are three multi-bagger defence stocks picked by Chandan Taparia, analyst at Motilal Oswal Financial Services Ltd (MOFSL).
Chandan Taparia chooses Garden Reach, Bharat Dynamics and KPIT Technologies
Chandan has suggested buying these stocks for the short term, positional, and long term.
Garden Reach Share Price Target
Shares of shipbuilding giant Garden Reach Shipbuilders closed trading at Rs 2088.4 with a rise of 7.3 per cent on BSE today. It made a new life high of 2160 in intraday. Experts have advised to buy the scrip in the range of Rs 2,070-2,080. A target of Rs 2,240 has been given with a stop loss of Rs 1,980. The stock may give up to 7 per cent returns from its current price.
Bharat Dynamics Share Price Target
The second choice of analyst is Bharat Dynamics. This share closed at Rs 1,589.8 each, up 2.95 per cent on BSE today. It is advisable to buy at this level, as per the analyst. Target of Rs 1,680 and Rs 1,700 has been given with stoploss of Rs 1,550. This means this stock can give up to 8 per cent returns.
KPIT Technologies share price target
The third choice of analyst is KPIT Technologies. Today, the shares of KPIT last traded at Rs 1,591.9 each, up almost 1 per cent on BSE. The analyst has given a target of Rs 1,680 with a stop loss of Rs 1,575. The stock can give returns of up to 6 per cent.
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.