Recommended stocks to buy today: Top stock picks by market experts for 30 April

Among sectors, information technology stocks led the gains, supported by renewed global tech optimism. However, pressure from metal and pharma stocks, and geopolitical tensions between India and Pakistan, offset some of the wider market gains.

Here are 3 stocks to buy on Wednesday, 30 April, as recommended by NeoTrader’s Raja Venkatraman

Buy: Shipping Corp of India (Current market price: ₹182.67)

• Why it’s recommended: SCI is now the largest Indian shipping company, offering a wide range of services including transportation of goods and passengers, offshore support, and more. With its diversified fleet and strategic partnerships, SCI is well-positioned to benefit from growth in global trade and logistics, making it a compelling long opportunity.
• Key metrics: P/E: 8.38; 52-week high: ₹384.20; Volume: 3.32 million
• Technical analysis: Support at ₹172; Resistance at ₹250
• Risk factors: Dependency on global trade dynamics and fluctuations in freight rates could impact revenue. Additionally, geopolitical tensions and rising fuel costs may pose challenges.
• Buy at: CMP and dips to ₹180
• Target price: ₹198-206 in 1 month
• Stop loss: ₹177

Buy: Punjab Chemicals and Crop Protection (Current market price: ₹1,076.65)

• Why it’s recommended: The pesticides and agrochemicals company has outperformed its peers recently. Despite mixed performance over different time frames, small-cap stocks are currently leading the market. It is positioned for growth as demand for speciality chemicals rises globally.
• Key metrics: P/E: 37.26; 52-week high: ₹1,575; Volume: 8,791
• Technical analysis: Support at ₹1,000; Resistance at ₹1,300
• Risk factors: Dependency on raw material costs and global trade dynamics could impact profitability. Regulatory changes and competition in the specialty chemicals market may also pose challenges.
• Buy at: CMP and dips to ₹1,100
• Target price: ₹1,180-1,225 in 1 month
• Stop loss: ₹1,020

Buy: Apollo Pipes (Current market price: ₹402.80)

• Why it’s recommended: Apollo Pipes is well-positioned to benefit from the growing demand in industrial and shipping sectors. It is a leading manufacturer of PVC pipes and fittings in India, with a presence in various sectors like plumbing, sanitation, and infrastructure. The charts are consolidating for the last few days and the revival in momentum calls us to initiate a long.
• Key metrics: P/E: 58.95; 52-week high: ₹694.75; Volume: 91,800
• Technical analysis: Support at ₹390; Resistance at ₹470
• Risk factors: Dependency on raw material costs and fluctuations in demand from industrial sectors, including shipping, could impact profitability. Additionally, competition in the piping and infrastructure market may pose challenges.
• Buy at: Above ₹408 and dips to ₹390
• Target price: ₹435-445 in 1 month
• Stop loss: ₹380

Two stock recommendations by MarketSmith India for 30 April

Buy: Tube Investments of India Ltd (Current market price: ₹2,797.5) 

• Why it’s recommended: Strong and diversified business portfolio, focused growth strategies
• Key metrics: P/E: 43.70; 52-week high: ₹4,810.80
• Technical analysis: Reclaimed its 50-DMA
• Risk factors: Exposure to cyclical industries, intense market competition
• Buy at: ₹2,797.5
• Target price: ₹3,150 in three months
• Stop loss: ₹2,680

Buy: BEML (Current market price: ₹ 3,211) 

• Why it’s recommended: Robust order book and revenue visibility, expansion in rail and metro segments, advancements in defense and aerospace
• Key metrics: P/E: 49.44, 52-week high: ₹5,488
• Technical analysis: Downward sloping trendline breakout
• Risk factors: Dependence on government orders, raw material price volatility
• Buy at: ₹3,211
• Target price: ₹3,700 in three months
• Stop loss: ₹2,980

Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.

MarketSmith India: Trade name: William O'Neil India Pvt. Ltd. Its Sebi-registered research analyst registration number is INH000015543.

Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.