Time for cashback from Paytm!

The rapid rise in the stock market has come to a halt after four consecutive days on Thursday. Nifty closed at 18,634 with a decline of 92 points. Sensex also closed in the red, dropping 294 points to 62,848. Amidst this volatility in the market, Money9 stock expert Gaurav Bissa has given advice on investing in three shares that can generate profits.

Go for Paytm
Paytm shares have surged by 39.15% in the past six months. However, they are still significantly below their 52-week high level of Rs 844.70. The company’s business updates for the month of May and its earnings in the January-March quarter have been better than expected. In this regard, investing in this share is being recommended. With the current price at Rs 771, one can consider buying with a stop loss at Rs 720 and a target of Rs 840.

Profit in Prestige
The real estate index in the stock market has been showing record growth. Property development company Prestige has provided its investors with profits of 10.70% and 25.47% in six months and one year, respectively. It continues to show positive trends. The current price of this share is Rs 527.65. Buying with a stop loss at Rs 490 and a target of Rs 590 is recommended.

Expectation of Growth in SAIL
The public sector steel company, SAIL, has been experiencing a downturn these days. The company’s earnings for the fourth quarter of the financial year 2023 were also half of the expected amount. However, there is an expectation of growth in its shares. For short-term investment purposes, buying at the current price of Rs 84.15 with a target of Rs 90 is advisable. A stop loss of Rs 80 will need to be placed.

(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 investment decisions.)