New Delhi: After the Lok Sabha Election 2024 Results, the very popular Modi Stocks are once again in action. Stocks from sectors which had recorded heighten government spending are once again in the limelight. After the poll results, induced mayhem at the Dalal Street, stocks from sectors like railways, defence and infrastructure were once again seen rising on the bourses. Stock prices of Bharat Dynamics, BEL, Ircon, RVNL, etc are again increasing.
According to stock market expert Santosh Singh, the Indian governmnet will continue spending on sectors like infrastructure, railways and defence. According to Singh, no matter whichever government is formed at the Centre, no government would stop spending on defence sector.
Defence Sector
Singh has advised investors who have put their fingers onto defence sector to not book profits at current levels. On two of the most investor friendly stocks from this sector (Bharat Dynamics and BEL), Singh advised that investors could buy the former on dips. At current prices, the stock is a bit expensive, he added.
On BEL, Singh said, “It is fundamentally strong. It is good for conservative investors.” On Friday, BEL share price closed more than three per cent higher at 283 Rs apiece on the BSE. While, Bharat Dynamics was up in excess of four per cent and closed at Rs 1,430.
Railway Stocks
According to the market expert, the government would continue spending on developmental works in Railways The government is looking for expansion of this sector. Two of the stocks are reasonable valued, one is Ircon and the other is RVNL.
As per Friday’s trading data, Ircon closed at Rs 250 apiece on the BSE. While, RVNL closed at Rs 374 apiece on the bourse.
Power Stocks
On power sector, Sing said, ‘The way we have seen robust demand for electricity in the country. I expect power stocks to continue rally.’ Singh prefers PSU power stock SJVN in this sector. He has given it a target price of Rs 195 and stop loss of Rs 121. On Friday, the scrip closed two per cent higher at Rs 133.
(Disclaimer: Stocks recommendations by experts or brokerages are their own and not those of the website or its management. We advise readers to check with certified experts before taking any investment decisions.)
Stock Market expert Santosh Singh said that he expects the Modi 3.0 government to continue spending on sectors like infrastructure, railways and defence. He advised buying Bharat Dynamics on dips while BEL looks good for conservative investors. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
