Buy-Sell Recommendations for Short Term
Benchmark indices witnessed huge gains following a slew of measures announced by Finance minister Nirmala Sitharaman. She highlighted sharp cuts in corporation tax on domestic firms in order to boost the sluggish economy and investor sentiments. Corporate Tax rate cut from 30% to 25.2% inclusive of surcharges and cess.
New domestic companies which are getting incorporated on or after 1st October 2019, keen to make an investment in manufacturing can pay the income tax at the rate of 15% exclusive of surcharges and cess. This benefit will be available to companies which do not use any exemptions and incentives.
However, the company should start its production on or before 31st March 2023. The tax on buyback of shares will not be charged for listed companies which have already made a public announcement of buyback before 5th July 2019.
Indian equity indices NSE BSE posted their biggest intraday gains in 10 years on 20th September 2019. While Bank Nifty posted its biggest intraday gains in 6 years. Nifty climbed around 570 points while Sensex surged over 1900 points. Nifty Bank zoomed over 8.31%. Market Capitalizations for Nifty50, Sensex, and Nifty Bank grew by 4.15 Lk Cr, 3.42 Lk Cr, and 1.46 Lk Cr respectively.
Nifty 50 rose 569.40 points or 5.32%, settled at 11274.20. Sensex gained 1921.15 points or 5.32%, ended at 38014.62. Nifty Bank up 2223.90 points or 8.31%, closed at 28981.55.
Asian Paints, Berger Paints, Kotak Mahindra Bank, HUL, Avenue Supermarts, Bata, Colgate, HDFC AMC, and Interglobe Aviation were hit their all-time highs. In NSE, 44 out of 50 stocks advanced while 6 declined.
Market experts are positive about the following stocks. They feel the following stock recommendations would deliver good returns.
Petronet LNG is a buy call with a target of Rs 285 and a stop loss of Rs 250
United Spirits is a buy call with a target price of Rs 660 and a stop loss of Rs 610
Larsen & Toubro is a buy call with a target of Rs 1460 and a stop loss of Rs 1390
JSW Steel is a buy call with a target of Rs 255 and a stop loss of Rs 228
Voltas is a buy call with a target of Rs 695 and a stop loss of Rs 654
Mahindra & Mahindra is a buy call with a target of Rs 595 and a stop loss of Rs 554
Bajaj Finserv is a buy call with a target of Rs 8200 and a stop loss of Rs 7400
Berger Paints is a buy call with a target of Rs 450 and a stop loss of Rs 380
Grasim Industries is a buy call with a target of Rs 800 and a stop loss of Rs 720
M&M Financial Services is a buy call with a target of Rs 380 and a stop loss of Rs 330
Disclaimer: The perspectives and investment tips are given in this section are the expert’s own and not that of the website or its management. We encourage clients to check with certified experts before taking any position in the stocks/shares mentioned.