New Delhi: The share prices of Public Sector Undertakings (PSUs) National Thermal Power Corporation Limited (NTPC), Bharat Heavy Electricals Limited (BHEL) and ITC have been in the limelight ever since Finance Minister Nirmala Sitharaman presented the Union Budget 2024 on Tuesday. All these stocks have surged in the last two days. But should you invest in these Budget 2024 stocks. Let’s see what stock market experts have to say.
BHEL Stop Loss
BHEL share price has already run up 216 per cent in the last one year. On Wednesday, the scrip closed at Rs 309 apiece on the Bombay Stock Exchange (BSE). At current prices, research analyst Nitilesh Pawaskar currently sees correction in the PSU stock. He has advised retail investors to wait for a dip. The technical analyst said “BHEL is quite tricky at the moment. Those who have already held on to the stock should keep BHEL share price stop loss at Rs 300 apiece.
On the other hand, CNI Research, CMD, Kishore Ostwal said he has positive outlook for the Maharatna company’s stock. He expects the PSU stock to immensely benefit from government policies announced in the Budget 2024.
NTPC share price target
Despite of the post Budget rally, Pawaskar sees 5-6 per cent more upside in NTPC. He said “Rs 390-395 looks important levels. Once it crosses this level then, investors can buy the scrip.” He advised investors to keep NTPC stop loss at Rs 385 per share.
Albeit, the research analyst also said, “On the other side of the spectrum, if NTPC share price dips below Rs 385-380, then, the scrip may fall further.” The PSU stock ended Wednesday’s trading session higher in excess of two per cent at Rs 392 apiece on the Bombay Stock Exchange (BSE).
ITC Stop Loss
ITC share price has run up six per cent since the Budget 2024 day. Pawaskar has advised investors not to make any fresh positions in the tobacco stock at current prices. Those who are already invested can put ITC stop loss at Rs 475. On Wednesday, ITC share price closed at Rs 494 apiece.
(Disclaimer: This article is only meant to provide information. News9live.com does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Budget 2024 Stocks: The share price of BHEL, NTPC, and ITC are in focus after Finance Minister Nirmala Sitharaman announced Budget 2024 on July 23, 2024. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
