Stock Market Strategy: The stock market has seen a spectacular boom since the March low. Since March 24, the Sensex has given around 59 per cent returns. The market is approaching the pre covid level. At present, there are many stocks in the rising market where investment opportunities are made. At the same time, there are many stocks from which experts are advising to stay away. Either these stocks have high valuations, or the fundamentals are not strong yet. We have also selected some shares based on the report of the brokerage house here, in which your money can sink if you invest.
IT company Wipro on Tuesday announced its second-quarter results. At the same time, the company board also approved share back of 9500 crore shares. Despite the better-than-expected results, Expert is currently suggesting to stay away from the stock. Most experts believe that the company has not given any fresh business strategy for the future. In such a situation, the growth of the company may lag behind that of Larger Pierce companies. Brokerage house Dolak Capital Market has set a target of Rs 320, suggesting a sell-off in the stock. Goldman Sachs too has set a target of Rs 277, suggesting a sell-off in the stock.
Motilal Oswal, the brokerage house at Bharat Heavy Electricals (BHEL), has advised a sell-off. For this, the brokerage has set a target of Rs 22, while the current price is Rs 28. The higher operating cast has affected the company’s financial performance. In the first quarter, the company saw a 26 percent fall in revenue. There is no significant improvement in the receipts pending of the company. There is a total liability of 36000 crores. Order inflows also weakened 62 per cent in the first quarter on an annual basis. Although all these are expected to improve further, but it will take some time.
Prabhudas Leeladhar, a brokerage house in Pharma Stock Cipla, has suggested reducing the stock. For this, the brokerage has set a target of Rs 657, while the current market price is Rs 782. According to the brokerage house, the company has been forced to grow in its US business for the last 12 months. The company has got another big set back. The company has issued a CRL (Complete Response Letter) issue on its speciality product IV tramadol. Due to this, its approval may take up to 6 months. Cipla has gained more than 100 percent since the March low. The stock has gone from Rs 356 to Rs 781.
(Note: We have given information here based on the report of the brokerage house. There are risks in the market, so consult the experts before buying or selling shares.)
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