Mumbai: IIFL Securities in its Market Mantra report has given a Buy rating on five PSU stocks – Gail (India) Ltd, Bharat Petroleum Corporation Ltd (BPCL), Bharat Heavy Electricals Ltd (BHEL), Oil and Natural Gas Corporation Ltd (ONGC), and NBCC (India) Limited. The brokerage firm shared the Support level, Resistance, and 50 and 200 Day Moving Average price levels for the convenience for the stock market enthusiasts.
The share price history of above-mentioned PSU stocks: ONGC has dropped over 5 percent in the last six months and BHEL declined over 14 percent. BPCL gained nearly 4 percent, NBCC over 11 percent and GAIL jumped over 5 percent.
BHEL share price target
IIFL Securities backed BHEL share price to rise and provided the following details for the stock. Support price: Rs 231; Resistance: 238; Day Moving Average 50 days: 268; Day Moving Average 200 days 265.
In its Q2 Results 2024-25, the state-owned engineering firm reported a consolidated net profit of Rs 106.15 crore. In the second quarter of 2023-24, the firm had posted a consolidated net loss of Rs 63.01 crore. According to the exchange filing, BHEL had reported a loss of Rs 211.40 crore in Q2 of the previous financial year. The PSU’s total income in the current July-September quarter rose to Rs 6,695.37 crore as compared to Rs 5,305.38 crore in the same period last financial year.
BPCL share price target
The brokerage firm gave a Buy call on BPCL and shares the following details – Support: Rs 302; Resistance at Rs 311; Day Moving Average 50 days: 342; Day Moving Average 200 days: 470.
Bharat Petroleum Corporation declared poor Q2 Results 2024-25. In its financials, the state-owned company reported a 72 per cent slump in its net profit for the quarter, while the consolidated net profit was Rs 2,297.2 crore, down from Rs 8,243.6 crore a year ago. revenue stood at Rs 1.02 trillion as compared to Rs 1.03 trillion a year ago.
GAIL share price target
Support: 193; Resistance at 198 level; Day Moving Average 50 days: 225; Day Moving Average 200 days: 204.
In its July-September 2024-25 quarter results, GAIL (India) reported a 10 percent increase in consolidated net profit at Rs 2,690 crore in the second quarter of financial year 2024-25 from the last year, while the consolidated net profit stood at Rs 2,689.67 crore as compared to Rs 2,442.18 crore in the same quarter in 2023-24 year ago. Revenue from operations recorded a marginal increase at Rs 33,981 crore in Q2 FY25, as against Rs 33,049 crore in the second quarter of the previous financial year.
NBCC share price target
IIFL Securities gave a Buy call on NBCC and suggested the flooring levels for the stock – Support: 96; Resistance: 98; Day Moving Average 50 days: 152; Day Moving Average 200 days: 142.
NBCC has bagged multiple orders worth Rs 235 crore. The public sector undertaking company under the Ministry of Housing and Urban Affairs secured orders from Mahatma Gandhi Kashi Vidyapith University Varanasi worth Rs 44 crore for construction of multipurpose examination hall cum innovation centre.
NBCC has received a contract worth Rs 5 crore for repair and renovation of Panani Bhawan/ academic block from Sampurnanand Sanskrit University, Varanasi. The state-owned company sealed a deal worth Rs 186.46 crore for renovation of Power Grid Corporation of India corporate office in Gurugram, Haryana.
ONGC share price target
IIFL Securities shares the following initials for ONGC stock – Support: 264; Resistance: 269; Day Moving Average 50 days: 297; Day Moving Average 200 days: 280
PSU company Oil and Natural Gas Corporation Limited (ONGC) will be announcing Q2 earnings of 2024-25 next week. The company has informed the exchanges that the board will also consider recommending its 1st interim dividend for the financial year ending on March 31, 2025.
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PSU stocks to Buy: IIFL Securities projected shares price of Gail, BPCL, BHEL, ONGC, and NBCC to increase. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
