MGL, Hindalco among long term picks of Gaurang Shah
Gaurang Shah, Sr Vice President, Geojit Financial Services, has advised investors that they can invest in Hindalco and Mahanagar Gas Limited (MGL) for long term.
At ‘Hello Money9’ Gaurang Shah, senior vice-president, Geojit Financial Services, has advised investors that they can invest in Hindalco and Mahanagar Gas Limited (MGL) for long term. He has given Hindalco a price target of Rs 580. On Thursday, Hindalco closed at Rs 479 per share on the BSE. Shah sees 21 per cent upside in the stock in the next 12 to 18 months. His second long term pick is MGL. He has given it a price target of Rs 1,225. According to him, the stock can move up to 21 per cent from current levels.
Shah also has a word of advice for investors of defence sector:
On the defence sector, Shah, said, “If investors invest in defence stocks at current levels, then, don’t be surprised if their money gets double in next three to five years. We had invested in Mazagon Dock, Bharat Dynamics and HAL in their IPOs. In the defence sector, we have always liked companies like Cochin Shipyard, BHEL and L&T which work to make life of our armed forces more secure.
The Fear of Missing Out factor always keeps markets in the mood. The Government had announced lot of initiatives like Make In India for the defence sector,” he said.
Shah’s view on the stock market:
On the ongoing fluctuations in the market, Shah, has advised investors not to panic on short-term hick ups in the market. He has in contrast advised investors to remain invested for the long term.
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