2 Bluechip Stocks To Buy For Long-term Investors After Good Quarterly Numbers

The Sensex has dipped nearly 1,003 points in trade today, as the 10-year bond yields in the US surged past the 2.03% mark on robust inflation data. Some analysts are now pricing in a 1% hike in the US Fed rates by the end of its July meeting. This resulted in Asian markets falling and the Sensex shedding 1,000 points. Here are some stocks you can buy after the market carnage.

Buy Mahindra and Mahindra stock

Current market price	Target price	Gains %
Rs 850	Rs 1125	32

Broking firm Motilal Oswal has recommended buying the stock of tractor major, Mahindra and Mahindra in its latest report.

According to the brokerage firm, Mahindra and Mahindra's third quarter FY22 operating performance was in line as a strong recovery in the auto business made-up for weakness in the Tractor business.

"We expect the Auto business to take the growth baton from the Tractor business, led by strong momentum in both Sports Utility Vehicles (driven by new products and the easing of supply issues) and Light Commercial Vehicles (cyclical recovery)," the brokerage has said.

"We raise our FY22E EPS estimate by 3% to factor in higher dividend income, but maintain our FY23E estimate. We maintain our Buy rating with a target price of Rs 1,125 per share (Mar'24E SoTP)," the brokerage has said.

The shares of Mahindra and Mahindra were last seen trading at Rs 850.

Bharat Forge

Current market price	Target price	Gains %
Rs 725	Rs 965	33

The firm also has a buy ratings on the stock of Bharat Forge. According to Motilal Oswal all of the businesses are seeing a sharp cyclical recovery. This, coupled with its focus on creating new revenue pools in Aerospace, Defense, and e-Mobility, could lead to the derisking of the business.

"We lower our FY23E consolidated EPS estimate by 5% to factor in a weak India Agri outlook and continued impact of semiconductor shortages in 1HCY22. We are yet to build in any contribution from its US aluminum business, Sanghvi Forgings, and new order wins in ecomponents. We maintain our Buy rating with a target price of Rs 965 per share (26 times March'24E EPS)," the brokerage has said.

The stock of Bharat Forge were last seen trading at Rs 725 on the NSE.

Disclaimer

Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article. The author and his family do not own the above mentioned stocks as on the date of writing this article.