Stock Tips: Nifty 50 (Nifty 50) and Sensex (BSE Sensex) are constantly touching new heights and there is no sign of decline in them yet. Sensex has reached above 60 thousand and Nifty has reached close to 18 thousand. Bank Nifty has also reached a new record high. Market analysts are bullish on the domestic equity benchmark index hitting record highs. Brokerage and research firm ICICI Direct has advised to invest in two stocks during this boom, which are showing strong prospects of growth. According to analysts, investors can get 10-12 per cent returns by investing in HDFC and Phoenix Mills.
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HDFC- Buy
Target price – Rs 3125
- In January this year, the shares of Housing Development and Finance Corporation (HDFC) were showing a rise, but the very next month it was moving up and down in a limited range. According to ICICI Direct, the possibility of a breakout of the range which had been formed for the last seven months is now visible. The price of this stock fell from Rs 2896 to Rs 2380 in 24 weeks and now in the last seven weeks itself, it has recovered rapidly, which is looking very positive for investment.
- Coming to the fundamentals of HDFC, it has consistently performed well in terms of business growth and asset quality.
- According to the brokerage firm, HDFC will benefit from the increasing demand for home loans.
- Analysts at the brokerage firm are positive about HDFC’s earnings due to adequate capital availability, low cost and better margins.
- Looking at all these factors, the brokerage firm estimates that this stock can reach the level of Rs 3125 with a rise of 10 percent from the current price in the next three months.
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Phoenix Mills – Buy
Target price – Rs 1,085
- Phoenix Mills develops and operates retail malls in the country. Its business was affected due to Corona, but now the situation is gradually improving.
- According to analysts, Phoenix Mills has good growth prospects on the back of good quality assets, healthy balance sheet and strategic expansion plans.
- For the past few trading days, the real estate sector stocks have been showing a rally and have outperformed the benchmark index.
- ICICI Direct believes that the economy is fast coming back on track and this will benefit Phoenix Mills i.e. there is a better opportunity for investors to include its shares in their portfolio.
- According to analysts, now this stock is coming out of the consolidation phase range of 20 months due to buying and selling of above average shares, due to which there is a possibility of strength in it. The stock is getting strong support with volumes exceeding three times the 50 week average volume.
- According to ICICI Direct, in the coming three months, this stock can touch the level of Rs 1,100 i.e. about 12 percent more than the current price.
(Article: Kshitij Bhargava)
(The stock recommendations given in the story are those of the respective research analysts and brokerage firms. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)
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