As the country recovers from the onslaught of coronavirus pandemic and economic activities grow, certain sectors and stocks are likely to benefit immensely, much more than some others. Market Analyst Ashish Kukreja highlights the ones that will do well in the long term, positional medium term and short term. Here is what he revealed in a chat with Zee Business Managing Editor Anil Singhvi.
Top Stocks To Buy: Meghmani Organics
Market analyst Kukreja today picked Meghmani Organics. This stock was recommended in an earlier edition of the Special Mid cap stocks but with a short term view, he said. The management is planning to chart a new direction for the company. Its API and speciality chemical business will be demerged, he said. This company is also into the business of pesticides. The downsides are very less. If the stock is held with a long term view, the prices may grow by 4-5 times, he added. This stock is currently trading around Rs 64. He puts the target price between Rs 100-Rs 125 with a 12 month view.
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Top Stocks To Buy: Prestige Estates
The technical analyst picked his positional medium term stock from the real estate sector. This sector has been seeing consolidation for 7-8 years, now, amid steps like GST, implementation of RERA etc. This has resulted in the removal of weaker players in the sector. The pandemic has proved to be a final nail in the coffin. Prestige Estates may sell their rental assets which is inevitable, he said. If the Rs 12000 cr deal goes through, the company will benefit. The issue of Rs 5000 cr debt will also be taken care of. He said that he was bullish on this stock. He expects the stock to appreciate by Rs 100 if the deal is finalised. This stock is currently trading around Rs 239.
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Top Stocks To Buy: IIFL Wealth
As for short term, the analyst picked IIFL Wealth – calling it a leader in the wealth management space in the country. The country is evolving in this space and this can be a huge business in future, he said. The stock is currently trading around Rs 1080. The June quarter results are likely to be declared soon and they are expected to come good, he said. There could be a movement of Rs 200-250 in the near term, he added.