In the upside movement of the Indian stock market, Zee Business Managing Editor Anil Singhvi has been revealing money-making stocks to buy for investors. In this series he asked IIFL Securities Director Sanjiv Bhasin to give his top picks for the viewers today and he responded with this – DLF and Biocon. He said that both the stocks are at discounted levels and both companies have strong fundamentals that suggests an upside movement in the short-term perspective.
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Replying to Anil Singhvi’s query on which stock to buy, Bhasin said, “My first call is a real estate company DLF, which has been hit very hard in the recent COVID-19 selloff. But, DLF has started its building and construction work and in coming times it is expected to recover the ground it lost in the last three months. The underperformance of the DLF shares is also making it attractive as it is available a discounted price. In my opinion one can buy the counter at current market price for the target of Rs 160 per stock levels maintaining the stop loss at Rs 142 per shares.”
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When Singhvi asked his next pick, Sanjiv Bhasin said,”My next pick is Biocon as we all know that the insulin uptake is expected to go up and the rising trend in insulin demand will definitely fuel the business of Biocon in short-term and hence I expect it to hit Rs 440 in next few trade sessions. One can buy the counter at current market price for the target of Rs 440 maintaining the stop loss at Rs 409 per share levels.”