Birlasoft, IPCA Laboratories: HDFC Securities suggests buying these stocks for 2 months; check targets, stop losses
The benchmark BSE Sensex crossed the historic 80,000 milestone intraday for the first time, while the Nifty raced more than 162 points to close at a new lifetime high on Wednesday, July 3, driven by significant buying in banking and FMCG sectors amid firm global market trends.
The BSE Sensex today
The 30-share Sensex crossed the historic 80,000 milestone for the first time earlier in the day. It rose 632.85 points, or 0.79 per cent, to a record intraday high of 80,074.30. The index later finished around 80,000 at 79,986.80, up 545.35 points, or 0.69 per cent, from the previous close. The BSE Sensex crossed the 78,000 barrier on June 25, and 79,000 for the first time in June.
HDFC Securities picks 2 stocks
Meanwhile, brokerage HDFC Securities has suggested buying two stocks - Birlasoft, and IPCA Laboratories for just a couple of months for up to 17 per cent gains. Let's take a look at their target prices and stop losses.
Birlasoft share price target
HDFC Securities has suggested buying IT services company Birlasoft's shares. The brokerage has given a target of Rs 754 and a second target of Rs 832. Today, July 3, shares of Birlasoft closed 0.24 per cent higher at Rs 710.9 each. This means the stock has the potential of providing 17 per cent returns. Maintain a stop loss of Rs 680.
IPCA Laboratories
The second stock suggested by the brokerage is IPCA Laboratories. HDFC Securities shared a target price of Rs 1,240 and a second target of Rs 1,305. Today, July 3, shares of IPCA Laboratories closed 2.2 per cent higher at Rs 1,156.4 each. This means the stock has the potential of providing 13 per cent returns. Maintain a stop loss of Rs 680. Maintain a stop loss of Rs 1,080.
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.