Stocks to Buy for Long-term: Sharekhan picks PSU bank, Zydus Wellness, Polycab and 2 more shares for up to 48% gains
Stocks to Buy for Long-term: At around 1.49 AM, the Sensex was 0.10 per cent up at 79,885.01 while Nifty 50 was 0.18 per cent up at 24,173.75.
The Indian stock market opened in red today, December 2, 2024, due to lower-than-expected GDP numbers released last week. The Nifty 50 index opened with a marginal gain of 9 points at 24,140 points, while the BSE Sensex index declined by 58 points to open at 79,743.87.
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Sensex and Nifty today
At around 1.49 AM, the Sensex was 0.10 per cent up at 79,885.01 while Nifty 50 was 0.18 per cent up at 24,173.75.
Rupee vs Dollar
The rupee opened on a flat note and rose just two paise from its all-time low level to 84.58 against the US dollar in morning trade on Monday.
Biggest gainers
Maruti, UltraTech Cement, Adani Ports, and Tata Motors were among the gainers.
Biggest losers
From the 30-share Sensex pack, IndusInd Bank, HDFC Bank, Larsen & Toubro, Tata Consultancy Services, and Hindustan Unilever were the biggest laggards.
Sharekhan picks 5 stocks for long-term
Despite all that, Sharekhan has chosen five stocks for investors to invest for 12 months. These include Protean eGov, Arvind SmartSpace, Zydus Wellness, Polycab and SBI stocks. A look at their share prices and targets.
What is the share price target of SBI?
Sharekhan has picked SBI stock for a target of Rs 975. On Friday (November 30), the shares closed at Rs 839 each. This means the stock can provide up to 16 per cent returns from its last closing price.
Zydus Wellness share price target
The next stock on the list is Zydus Wellness for a target of Rs 3,000 each. On Friday (November 30), the shares closed at Rs 2,024 each. This means the stock can provide up to 48 per cent returns from its last closing price.
Share price target of Protean eGov Technologies
The brokerage has also chosen Protean eGov stock. The target is Rs 2,510 each. This means the stock can provide up to 41 per cent returns from its last closing price.
Arvind SmartSpace share price target
Sharekhan has picked Arvind SmartSpace stock for a target of Rs 1,178. On Friday (November 30), the shares closed at Rs 998.6 each. This means the stock can provide up to 18 per cent returns from its last closing price.
Polycab share price target
Sharekhan has also picked Polycab India for a target of Rs 8,300. On Friday (November 30), the shares closed at Rs 7,297 each. This means the stock can provide up to 14 per cent returns from its last closing price.
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.