New Delhi: CNI Research, CMD, Kishore Ostwal, has recommended investors to pump in their money in shares of HDFC Bank and Oriental Carbon & Chemicals Limited. The stock market expert has suggested target price and stop loss for the mentioned stocks.
Stock to invest – HDFC Bank
Initiating a positional buy rating on HDFC Bank, the stock market expert has recommended a target price of Rs 1,850 while he said the stop loss should be maintained at Rs 1,550. Kishore is so bullish on the scrip, that he sees the stock test levels of Rs 2,200 to Rs 2,400 in one-year time frame.
The share price of the banking juggernaut has remained more or less at the same level in the last one year. But now Kishore sees big rally coming in the stock. According to him, ‘Stock consolidated over 1 year around Rs 1,500 – Rs 1,550 levels. Now, it is due for big rally. It will assume rank of No 4 bank in the world again in next 6 to 12 months.” The HDFC Bank stock opened on Tuesday, June 18, 2024 at Rs 1,595 on the Bombay Stock Exchange (BSE).
Hot Stock to invest in – Oriental Carbon & Chemicals Limited
The market expert also sees a rally in share price of chemical manufacturing company, Oriental Carbon & Chemicals Limited. The chemical manufacturer is underway a demerger process in which OCCL has been demerged from Oriental Carbon & Chemicals Limited. Both the companies have mutually fixed July 01, 2024 as the record date for the purpose of determining the shareholders of the company who would be allotted the equity shares of the resulting company.
Kishore expects such a scheme of arrangement of shares of Oriental Carbon & Chemicals Limited will fuel a rally in its share prices. The chemical company is market leader in the manufacture of Insoluble Sulphur chemicals. The firm belongs to the small-cap category with a market capitalization of Rs 775 crore. On June 18, company shares opened at Rs 790 per share, higher 1.11 percent from the previous close price on the stock exchange.
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Hot Stocks to invest: The share price of HDFC Bank and Oriental Carbon & Chemicals Limited are expected to rise, CNI Research, CMD, Kishore Ostwal, said on Tuesday. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
