5 stock picks by Sanjiv Bhasin: You may bet on these five shares on Monday; Check target price, stop loss, other details
On Friday, Sensex and Nifty surged to settle at record highs helped by intense buying in index majors Reliance Industries, Wipro and Maruti. The 30-share BSE Sensex rose by 20.96 points or 0.03 per cent to settle at 62,293.64, its fresh record closing high while broader NSE Nifty went up by 28.65 points or 0.15 per cent to end at 18,512.75, its all-time high. As the markets ended on a positive note, Sanjiv Bhasin, Director of IIFL Securities, has suggested five stocks that can grow in the near future and may yield better returns. The stocks picked by Bhasin include Aditya Birla Capital, Indian Hotel, DLF, Tata Steel, PFC, BHEL, and REC among others. Here, we are sharing five of them with key details:
Can Fin Homes Share Price, Target and Stop Loss by Sanjiv Bhasin
Can Fin Homes Ltd: Canara Bank sponsored Can Fin Home, a housing finance company, is also on the list of Sanjiv Bhasin. The current market price of Can Fin share is Rs 544.50 per share and Bhasin has revised its target price from Rs 560 to Rs 590 per share. He said that the stock has the potential to go up to Rs 650 per share but for the near future, the target is Rs 590. He asked to put a stop loss at Rs 522. It may be noted that the housing finance company will hold its board meeting on November 28 to consider a proposal for payment of interim dividends for the financial year 2022-23.
Tata Steel Share Price, Target and Stop Loss by Sanjiv Bhasin
Tata Steel: Tata Group's Tata Steel's current market price is Rs 106.40 per share. The stock has gained around 5 per cent in the last month. Bhasin said that the target price for Tata Steel is Rs 112-114 per share and the stop loss is Rs 103 per share.
REC Share Price, Target and Stop Loss by Sanjiv Bhasin
REC: REC Limited, formerly known as Rural Electrification Corporation Limited, is a subsidiary of Power Finance Corporation and its current market price is Rs 108.95 per share. The stock gained 5.47 per cent on Friday. Bhasin said that the target price for REC is Rs 130 per share and it has the potential to go up to Rs 140 per share. He said that the stop loss should be Rs 109 per share.
PFC Share Price, Target and Stop Loss by Sanjiv Bhasin
PFC: The Power Finance Corporation, a government PSU under the Ministry of Power, is among the top picks by Sanjiv Bhasin. He told Zee Business TV that he had suggested PFC around Rs 122 per share and now it has reached Rs 136. Bhasin said that the next target for PFC is Rs 160 per share.
BHEL Share Price, Target and Stop Loss by Sanjiv Bhasin
BHEL: Bharat Heavy Electricals Limited is a PSU under the ownership of the Ministry of Heavy Industries. The current market price of BHEL is Rs 82.25 per share. The stock gained around 10 per cent on Friday. Bhasin said that the target price for BHEL is Rs 95 per share while the stop loss is Rs 75 per share.