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Business News/ Markets / Stock Markets/  Stock market today: IREDA, IFCI, MMTC to NBCC — these four PSU stocks hit upper circuit. Which stock to buy today?
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Stock market today: IREDA, IFCI, MMTC to NBCC — these four PSU stocks hit upper circuit. Which stock to buy today?

Stock market today: The Nifty PSE index surged around 3% in early morning deals on Thursday

PSU stocks to buy today: Sumeet Bagadia of Choice Broking believes that IFCI and NBCC shares still possess some upside potential. (Photo: iStock)Premium
PSU stocks to buy today: Sumeet Bagadia of Choice Broking believes that IFCI and NBCC shares still possess some upside potential. (Photo: iStock)

Stock market today: Following the bull trend in the Indian stock market post-US Fed meeting, the Nifty PSE index surged to the tune of 3 percent during the intraday session. The 51-stock index found strong buying support from PFC, REC, BHEL, SAIL, and BEL shares. Four PSU stocks — IREDA, IFCI, MMTC, and NBCC touched the upper circuit in this stock market rally.

Here we list out full details of the PSU stocks that touched the upper circuit today:

IREDA share price today

IREDA share price today opened upside at 127.25 apiece on NSE and went on to touch an intraday high of 132.05 apiece. While climbing to this intraday high, the PSU stock went on to touch a 5 percent upper circuit. The state-owned stock was listed on BSE and NSE on 29th November 2023 and the issue price was at 30 to 32 per equity share. So, IREDA share is quoted over 300 percent higher than its upper price band of 32 apiece. It should be noted that the PSU stock has retraced from its lifetime high of 214.80 apiece on NSE, which it touched on 6th February 2024.

IFCI share price today

IFCI share price today opened upside at 38.55 apiece on NSE and went on to touch an intraday high of 39.65 per share. While climbing to this intraday high, the PSU stock went on to touch a 5 percent upper circuit within half an hour of the stock market's opening bell.

NBCC share price today

NBCC share price today opened higher at 111.95 apiece on NSE and went on to touch an intraday high of 114.80 apiece within a few minutes of the stock market's opening bell. While climbing to this intraday high, the PSU stock went on to touch a 5 percent upper circuit as well. After ushering in February 2024, this state-owned stock has remained in base-building mode. However, it still managed to deliver a 40 percent return to its shareholders in YTD time.

MMTC share price today

MMTC share price today opened northward at 64 per share on NSE and went on to touch an intraday high of 66.05 per share within an hour of the stock market. While scaling to this intraday high, the PSU stock went on to lock in a 5 percent upper circuit as well.

PSU stocks to buy today?

On stocks to buy today from the PSU segment, Sumeet Bagadia, Executive Director at Choice Broking said, "IFCI and NBCC share price may give further upside and outperform MMTC and IREDA shares. Those who have these PSU stocks in their portfolio are advised to book profit in MMTC. Shareholders of the other three PSU stocks can hold their respective positions. IFCI share price has a strong base at 35 whereas, on the upper side, it is poised to touch 45 and 50 levels respectively in the short term. NBCC share price has strong support placed at 104 per share level while it is facing a hurdle at 130 per share level. On breaching this hurdle, NBCC share price may touch 140 per share level."

"IREDA shareholders can hold the scrip maintaining stop loss at 120 apiece level. The PSU stock is looking positive on the chart pattern and it may touch 145 to 150 per share level in the short term."

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 21 Mar 2024, 12:43 PM IST
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