Buy this Vedanta Group stock before Budget 2024; analyst sees up to 19% upside
Meanwhile, market expert Hemang Jani has advised investing in Hindustan Zinc before the budget.
Stocks to BUY before Budget 2024: The benchmark Sensex and Nifty finished a little down in a rangebound session on Thursday, July 11 as investors booked profits in heavyweights before releasing crucial financial reports for the June quarter.
Full Budget 2024 is also scheduled to be presented on July 23.
Stock to buy
Meanwhile, market expert Hemang Jani has advised investing in Hindustan Zinc before the budget.
Stock to buy
There is a buy opinion in Vedanta Group's stock Hindustan Zinc. Currently, the share is trading at around Rs 673. It is advisable to invest money for one year and the target price has been kept at Rs 800. That means the stock can show an upside of 19 per cent.
Why analyst is bullish on Hindustan Zinc stock
Jani said that Hindustan Zinc is a company involved in the manufacturing of zinc and silver. There may be announcements related to commodity manufacturing in the budget, which will be a positive trigger for the company as well as the entire sector. At the same time, if there is a cut in interest rates in America in September, then this will also be positive news for commodities. This can bring big momentum to the stocks of the sector.
Hindustan Zinc- share price history
Today, the stock rose about 2 per cent, and closed at Rs 672.6 each. In the last three months, the shares of the company have risen almost 70 per cent and 112 per cent in six months.
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.