Market experts betting on these stocks
If you are also in a buying mood in this environment, market expert Santosh Singh has suggested two shares for you: Coromandel International and ITD Cementation.
On Friday, Sensex and Nifty ended the week in red. Despite mixed global cues, most sectors in the Indian stock markets showed positive trends. With the anticipation of normal monsoon conditions by the weather department, there was a boost in the market. Foreign institutional investors (FIIs) continued to invest in the Indian markets and maintained a position of pure buying. If you are also in a buying mood in this environment, market expert Santosh Singh has suggested two shares for you: Coromandel International and ITD Cementation. Investing in these two shares can help you make good money.
Buying opportunities in Coromandel International
Coromandel International is a fertiliser company. However, the financial results for the fourth quarter of the fiscal year 2023 were not great. The company witnessed a 15% decrease in profits. In this quarter, the company made a profit of ₹246.4 crores, whereas in the last quarter of the fiscal year 2022, the company recorded a profit of ₹290 crores. Despite this, the company has announced a dividend of ₹6 per share. The company has been consistently paying dividends in the past as well. In the long term, the company has provided good returns. Investors have earned over 104% profit in the last 5 years. In this regard, according to the expert’s advice, it is recommended to buy with a target of ₹1050 and a stop loss of ₹880, considering the current market price of ₹932.
ITD Cementation has strong fundamentals
ITD Cementation is a well known construction company of the country and has been operating since the last 8 decades. This share has given more than 28% return while in the last 6 months it has gone up 22%. It is recommended to buy the stock with target price of ₹175 with stop loss of ₹ 135. Current market price is ₹149.
(Disclaimer: Stocks recommendations by experts or brokerages are their own and not those of the website or its management. Money9.com advises readers to check with certified experts before taking any buy, sell or hold decisions.)