Indian indices are at an all time high and experts still see an upside in due course. So, if given the prospects in the country's capital market i.e. the barometer of the country's financial standing and your risk appetite, you want to put in your money in it then here are some of the stock picks by Angel Broking for long term:
The stock until now suffered the jolt due to the pandemic led lockdown, nonetheless as the markets have begun to open, there is more upside seen in the scrip.
The rationale for investment given by Angel Broking in respect of the scrip is:
- PVR is the largest multiplex chain in India with 800 plus screens across the country.
- Share prices are corrected as most of the theaters are operating at low capacity utilization.
- Now as the Covid cases have taken a downturn it should mean substantial increase for the company's business.
The Buy price recommended for the scrip is Rs. 1416.6 per share for a target price of Rs 1650.
Stock of PVR last closed on June 24 at a price of Rs. 1387.25. So, upside from the last traded price is 19%.
This is another pick by Angel Broking for long term. The brokerage firm sees an upside of up to 26% from the largest stove manufacturing company that has in its kitty brands like Pigeon, Gilma etc.
Rationale for investment:
-In the last 2 years the company has outperformed its peers in the cookers segment.
-Also, the increase in penetration of cooking gas shall be conducive to the growth of StoveKraft.
-High quality stock is available at lower valuations.
-Healthy free cash flow and profitability.
Buy price recommended for Stovekraft is Rs. 577 and the target price of Rs. 752 is sought, i.e. an upside of 26% from the LTP of Rs. 597.6.
3. Jindal Steel
JSPL is a top company in the steel, power, oil and gas, mining and infrastructure sector in the country. Through backward integration, the company produces steel and power from its own captive iron ore and coal mines.
The brokerage firm has recommended the JSPL stock at a buy price of Rs. 420.4, for a run up targeted at Rs. 550 i.e. an upside of 42% from the current pricing.
Rationale in support of the ‘Buy':
- Re-rating for the sector owing to strong global demand for steel.
- Good set of earnings posted for Q4Fy21.
- Deleveraging of balance sheet is positive. Aided by the rally in the steel prices the company has been able to reduce its debt substantially in the last ended FY.
- Stocks available at reasonable valuation despite the rally.
Disclaimer: The stock recommendations are taken from the research report of Angel Broking. Stock investments are risky, so do your own research before investments. Neither the author, nor the brokerage nor Greynium Information Technologies would be responsible for losses incurred based on the article. Please consult a professional advisor. Article here is listed only for informational purpose.