Zee Business Managing Editor Anil Singhvi has been batting strongly for stock market traders and investors to go for some quality mid-cap stocks till the market is volatile due to the COVID-19 pandemic. During his discussions with market expert Ambareesh Baliga today, Singhvi asked for his mid-cap picks for long-term, mid-term, positional call and short-term and the market expert responded with names of three companies whose shares he has put a buy tag on— Indian Hotels, HPL Electric and Engineers India (EI).
On Anil Singhvi’s query about his long-term mid-cap pick, Ambareesh Baliga said, “My long-term pick in mid-cap segment is Indian Hotels. The hotel industry has been hit badly during the pandemic spread but things are now improving and in next 12-18 months, the hotel industry is expected to reach its pre-COVID stage. In fact, by end September October month, it is expected to reach around 60 per cent of its operational capacity. So, from the long-term perspective I recommend Indian Hotels share to buy for the target of Rs 140 per stock levels in next 9-12 months.” Currently, the stock is trading around Rs 85 per share levels.
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On positional and short-term picks Ambareesh Baliga said, “My positional or mid-term pick is HPL Electric, which is a market leader in low-voltage electric market. It has 20 per cent market share in smart meter market and in next two years, around Rs 75,000 crore worth smart meter market is getting generated means the company will get at least Rs 15,000 crore market from the smart meter market. One can buy this counter for the target of Rs 65 in mid-term time horizon.” Currently, the counter is trading in the range of Rs 37.50 to Rs 38.00 per share mark.
On his short-term pick, Ambareesh Baliga told Anil Singhvi, “My short-term pick is Engineers India. It’s a debt-free company and has witnessed heavy cashflow in the last two years. I recommend this counter to buy at current market price for the target of Rs 96 per share mark maintaining the stop loss at Rs 71 per share levels.” Currently, the counter is trading around Rs 75 per stock levels.