Stocks to Buy Today: Market analyst Sandeep Jain today picked a stock from the auto ancillary sector. In a chat with Anil Singhvi during the popular TV show ‘Jain Sahab ke Gems’, he recommended a stock that he revealed has been an underperformer till now, but things are now taking a turn for the better going forward.
Top Stocks To Buy: Saint Gobain
Jain today picked Saint Gobain – an auto ancillary company. This company is a subsidiary of a large French MNC. It makes automotive glasses and is the biggest company in this segment, he said. It also makes some building material related things. This stock is available at very attractive valuations and the downside risks are very low. The June quarter results have been declared and all the negatives have been discounted, he further said.
Watch Zee Business Tweet Video Below:
— Zee Business (@ZeeBusiness) August 10, 2020
Jain added that a lot of things have changed in the company over the last 2-3 years and it is likely to do well going forward. He added that this stock has been a big underperformer.
He said that prices have consolidated of this stock. Jain recommended a Buy on this stock at existing levels or on dips. Saint Gobain shares are currently trading around Rs 56.
Jain said that this is one stock which investors should buy and forget. He assured investors of returns from this stock in the long run. He puts the target price at Rs 65 in the near term and Rs 75 in medium to long term.
See Zee Business Live TV Streaming Below:
Commenting on the sector as a whole, Jain said that the auto ancillary stocks have seen a good movement of late and the prices have already seen significant discounting. Any further downside in the prices is not likely to happen.