Sharmila Joshi also suggested investing in Tata Consumer Products.
Gaurang Shah from Geojit recommended investing in Olectra Greentech Limited, a significant player in India’s electric bus manufacturing under the MEIL Group.
On November 17, the Sensex rose by 1.37 per cent, and the Nifty saw a rise of 1.58 per cent in stock prices. According to reports, mid-caps continued their upward trend for the third consecutive week. As investors seek potential stocks for the upcoming week, Gaurang Shah from Geojit and Sharmila Joshi from SharmilaJoshi.com have shared some investment tips. Let’s delve into their recommendations.
Joshi mentioned that the US market commentary and Foreign Institutional Investor (FII) buying have been supporting the Indian market, suggesting a potential continuation of the bullish trend.
1. Gaurang Shah advised investors to consider buying shares in the State Bank of India (SBI), the country’s largest bank. He emphasised that the stock’s risk-reward ratio looks favourable and suggested a potential long-term target of Rs 720.
2. Shah also recommended investing in Olectra Greentech Limited, a significant player in India’s electric bus manufacturing under the MEIL Group. Despite a second-quarter performance below projections, Shah believes the company might witness substantial growth ahead, setting a target price for the stock at Rs 1,350.
3. Another suggestion by Gaurang Shah was to invest in Larsen and Toubro Ltd. He highlighted the company’s global presence in over 30 countries and a 19.3 per cent increase in consolidated revenue in the second quarter on an annual basis. Shah set a target price of Rs 3,400 for the company’s shares.
4. Sharmila Joshi recommended LTIMindtree Limited, citing the company’s impressive performance. She sees potential growth in the midcap IT sector and advises buying with a target of Rs 6,000.
5. Joshi also suggested investing in Tata Consumer Products, noting increased revenue in the domestic food business and improved margins in the international market during the second quarter. She set a target price of Rs 1,100 for Tata Consumer’s stock.
6. She further proposed investing in the shares of the real estate company Prestige Estates. Joshi highlighted strengthened pre-sales in the second quarter and the launch of new projects, suggesting the stock’s potential to reach Rs 980.
Source: News18