Experts recommend 'buy' on these PSU stocks1 min read . Updated: 12 May 2021, 08:05 AM IST
- Covid-19 may force Indian government to generate funds and in that case we can expect disinvestment process to get accelerated, say experts
Stocks to buy today: Amid lowering numbers of fresh Covid 19 cases in India, market experts are recommending stock investors to continue with stock specific trade as the fear of second wave is still not over. They said that Covid-19 may force Indian government to generate funds and in that case we can expect disinvestment process to get accelerated. So, it's opportune to buy public sector unit or PSU stocks, which are available at discounted price today. They said that BHEL, BPCL, NBCC are the PSU stocks that one can buy today.
Speaking on the reason for recommending PSU shares to buy today Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Due to the second wave of Covid-19 in India, the government will be under stress to infuse liquidity in the market. To maintain the liquidity, they will have to generate funds and for that reason, they can accelerate the disinvestment of the PSU, which they have already announced in the Budget 2021. So, I believe that PSU stocks like BHEL, BPCL and NBCC can be a good option if an investor is looking to buy PSU stock."
Unveiling the investment strategy in BHEL shares; Ravi Singhal, Vice Chairman at GCL Securities said, "One can buy BHEL shares at current market price for the target of ₹144 maintaining strict stop loss at ₹62." BHEL share price at NSE closed at ₹73 on Tuesday.
On his suggestion to investors in regard to BPCL and NBCC Ravi Singhal of GCL Securities said, "One can buy BPCL stocks for targets of ₹500 and ₹555 maintaining stop loss at ₹425. For those who want to buy NBCC, they can buy it at current levels for the target of ₹59 and 67 maintaining the stop loss below ₹45."
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