New Delhi: Ahead of Budget 2024, stock market experts have recommended stocks that are likely to grow investors’ wealth. While some of these stocks are multibaggers, such as NBCC, others hold promise for long-term gains. Stock market experts gave a BUY call on NBCC, ICICI Prudential life Insurance, Dabur, and HFCL. Check share price target and stop loss.
ICICI Prudential Life Insurance stop loss
Speaking on Money9, Hemen Kapadia, Senior VP at KR Choksey suggested buying ICICI Prudential Life Insurance atRs 645 apiece. Kapadia gave a share price target of Rs 695 per share and a stop loss of Rs 620 per share.
“The company’s stock has witnessed 3.5 years of consolidation, with the last jump in September 2021,” said Kapadia. He suggested that investors should wait until month-end ideally, all things remaining constant.
Dabur share price target
Dabur’s share price was above Rs 610 apiece in September 2021. However, the stock is likely to sustain above Rs 610 per share levels. Though Dabur is a slow-moving stock, Kapadia has shared a target share price of Rs 700 apiece for Dabur.
Investors may enter Dabur’s stock at Rs 620 per share
Stop loss must be maintained at Rs 580 apiece
“Both stocks look good on a standalone basis if not in the near term then definitely end of the year. Investors must take note of the fact that the Budget is near and markets are overbought,” Kapadia added.
NBCC share price target
Sharad Mishra, founder, sharadmishra.com gave a BUY call on NBCC with a 3-month target. Project management and consultancy contribute to 92 per cent of the company’s revenues, he said.
Investors can enter the stock at Rs 190 per share
NBCC’s share price target is Rs 210-275 per share according to Mishra.
Stoploss should be maintained at Rs 150 apiece, he added.
With projects in the Maldives, Mauritius, Africa and the Middle East, NBCC is well set for gains, added Mishra.
HFCL share price target
Mishra gave a BUY call on telecom sector manufacturer HFCL’s shares until December 2024. Investors may purchase HFCL’s shares at Rs 130 apiece, maintain stop loss at Rs 100 apiece and aim for a share price target of Rs 172 per share. Mishra said he was bullish on the telecom sector owing to market expansion and margin expansion despite a nominal tariff hike. The telecom equipment and optical fibre maker has invested in capex in a major way and this is likely to continue for the foreseeable future, he said.
(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.)
Stocks to invest in: Stock market experts gave a BUY call and share price target for NBCC, Dabur, ICICI Prudential Life Insurance and HFCL. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
