BUY Maharatna PSU Energy Stock NTPC For Short Term Gains, Target Price Rs 435; Check More Picks!

Prabhudas Lilladher has recommended buying three stocks on the first trading day of September. These include Maharatna PSU stock NTPC as well. The energy stock is recommended to buy for a new all-time high target price of Rs 435, to fetch intraday or short-term gains of nearly 4.5%. The other two stocks are in aerospace and defence company, MIDHANI and auto components and equipment maker, Gabriel India.

On September 2, 2024, Shiju Koothupalakkal - Technical Analyst at Prabhudas Lilladher expects Nifty to find support at 25,100 and resistance around 25,400, while Bank Nifty is expected to find support and resistance around 51,000 and 51,800 levels.

Koothupalakkal has advised the following on the three stocks for Monday's trade:

- BUY NTPC cmp 416.20 Stop Loss 407 Target 435

- BUY MIDHANI cmp 414.75 Stop Loss 405 Target 435

- BUY GABRIEL INDIA cmp 548.35 Stop Loss 536 Target 574

Here are key highlights of the stocks:

NTPC:

Last week, on Friday, the stock ended at Rs 416.40 apiece with a market cap of Rs 4,03,769.18 crore on BSE. The stock is near its 52-week high of Rs 426.35 apiece. However, in August month, the stock dipped by nearly 1%. YTD, the stock is up by 35% on BSE.

NTPC is India's largest power utility with a total installed capacity of 76,294 MW (including JVs). Established in 1975, NTPC is steering ahead to be India's largest integrated power company and targets to become a 130 GW firm by 2032.

Midhani:

Mishra Dhatu Nigam aka Midhani shares ended at Rs 414.50 apiece on August 30, with a market cap of Rs 7,765.24 crore. The stock's 52-week high and low is at Rs 547.45 apiece and Rs 345 apiece. Unlike NTPC, Midhani shares nosedived sharply by nearly 13% in overall August month. YTD, the stock is marginally down.

MIDHANI started operations in 1981 and entered commercial production in 1983. Since then, the company has supplied special metals and alloys to customers in India's space, missile, nuclear, armaments, and aeronautics entities.

Gabriel India:

The stock price stood at Rs 513.65 apiece with a market cap of Rs 7,867.38 crore on BSE last week. Also, on August 30, the stock touched a new 52-week high of Rs 549.85 apiece. Compared to NTPC and Midhani, Gabriel shares ended August month with gains of nearly 10%. YTD, the stock is up by 36%.

Gabriel India is the flagship of the ANAND Group. From being a single-product company in 1961, Gabriel India has transformed itself to become the most trusted ride control products brand in India. Gabriel is also the leading manufacturer of shock absorbers for new-generation vehicles in the 2 & 3-wheeler segment in India, including EVs.