Mid-cap Picks With Anil Singhvi: Amid sharp recovery in Indian indices on last day of the week, after Thursday’s bloodbath, Zee Business Managing Editor Anil Singhvi has suggested traders and investors to now focus on high quality stocks to make money. The Market Guru is of the opinion that stock specific trade strategy will continue to help traders and investors to garner good returns in long-term, short-term and mid-term. In this regard, Anil Singhvi asked Ambareesh Baliga to share his top three stock picks and Baliga replied with Dredging Corporation of India, Raymonds and KEC International shares to buy for whopping returns.
Speaking on the Dredging Corporation of India shares, Baliga told Anil Singhvi, “Dredging Corporation of India has reported 10 times higher numbers in the June quarter that speaks volume about the company’s balance sheet. I suggest long-term investors to buy this mid-cap stock at current Rs 258 to Rs 260 per stock levels for the target of Rs 400 in 9-12 month time-horizon.”
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On the positional pick of the day, Ambareesh Baliga said, “My positional pick of the day is Raymond. The company’s lifestyle business is expected to pick up in the next two months due to the rise in demand in the casual textile market. It is manufacturing PPE products for the government, private and corporates that is also helping them sustain their revenue during COVID-19 pandemic. Apart from this, the company has real estate projects in affordable housing segments in Maharashtra where around 50 per cent of its inventory is already sold out. After the decrease in the stamp duty in Maharashtra, real estate inventories of the company in the affordable segment is expected to get traction and hence I recommend stock market investors to buy Raymond shares at current Rs 257 levels for the target of Rs 410.”
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On his short-term pick Baliga said, “My short-term pick from the mid-cap segment is KEC International. The company deals in the transmission network business which is expecting a major boost after the infra projects announced by the Indian Railways. It has exposure in around 100 countries and its net business revenue from the overseas market is to the tune of near 22 per cent. In the domestic market, its order book is around RS 20,000 crore, which is huge. I recommend short-term investors to buy KEC International shares for the target of Rs 340 maintaining the stop loss at Rs 294.”