2 Stocks To Buy As Suggested By Chandan Taparia Of Motilal Oswal On Thursday, 13th July

Chandan Taparia of Motilal Oswal has recommended investors to buy 2 stocks for Thursday showing potential to soar. These stocks are Shriram Finance and Piramal Enterprises. Check details below:

Technical Pick
1. Buy Shriram Finance: The analyst has suggested investors to buy Shriram Finance share with target price of Rs 1860 per share. Current market price of Shriram Finance share is Rs 1812.55 per share. The analyst has asked to maintain the stop loss at Rs 1780 per share and a time frame of 2-3 days when the stock will realise the target price of Rs 1860 per share.

Fundamental Pick
2. Buy Piramal Enterprises: Chandan Taparia has assigned a target price of Rs 1165 per share to Piramal Enterprises. Current market price of Piramal Enterprises share is Rs 979.25 per share. The analyst has given duration of 1-year when the stock will achieve the target price of Rs 1165 apiece. According to the analyst, "Over the past two years PEL has built a resilient financial services business. Over the next two years, we expect PEL to make meaningful inroads into Retail, led by Mortgages and complemented by shorter tenure loans originated through digital partnerships. Product diversification within Retail will help PIEL deliver strong growth and reduce concentration risks. We expect a loan book CAGR of ~19% over FY23-25."

Market Outlook: According to Chandan Taparia, "Expect market to open on a positive note on account of across the global markets rally, boosted market sentiment after the US inflation came in cooler than expected to 2-year low and raised hopes that the Federal Reserve's rate hike cycle may be nearing its end. US, Europe and Asian market climbed up between 1-2% after US inflation data came in slower-than-expected, taking some pressure off the Federal Reserve to continue its rate- hiking campaign.US Core inflation has also fell to 4.8% also the lowest since 2021 while expectation was 5% (previous month was 5.3%).

The consumer price index rose to 3% while expectation was 3.1% (previous month 4%). Gift Nifty is trading positive. Metal stocks will be positive due to surged in metal price on LME and fall in US Dollar Index. Defence stocks will be in focus today on hope of large Defense deal with France while Prime Minister to visit France today.

Disclaimer: The stocks have been picked from the brokerage report of Motilal Oswal. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.