5 days ago
Sumeet Bagadia Names Three Stocks to Buy Under ₹100
Sumeet Bagadia suggested three Indian stocks priced below ₹100.
The stocks are Equitas Small Finance Bank, Meghmani Organics and Filatex India.
He gave a possible future price, called the target price, for each stock.
He also gave a stop-loss price to limit potential losses.
The suggested targets were ₹81, ₹70 and ₹104, respectively.
Indian markets were affected by expensive crude oil and higher global bond yields.
The Sensex was reported to have fallen during the week.
The article gives two different descriptions of the Nifty 50’s close, so that detail is uncertain.
Sumeet Bagadia recommended Equitas Small Finance Bank, Meghmani Organics and Filatex India for Monday, 21 September.
Equitas Small Finance Bank was recommended at ₹74.09, with a target of ₹81 and stop-loss of ₹70.50.
Meghmani Organics was recommended at ₹63.14, with a target of ₹70 and stop-loss of ₹59.60.
Filatex India was recommended at ₹93.83, with a target of ₹104 and stop-loss of ₹89.
Markets faced pressure from elevated crude oil prices and rising global bond yields, although the article gives conflicting accounts of the Nifty 50’s weekly close.
- Who
- Sumeet Bagadia, Executive Director at Choice Broking, recommended three stocks.
- What
- He recommended Equitas Small Finance Bank, Meghmani Organics and Filatex India, with entry prices, target prices and stop-loss levels.
- Where
- The recommendations concern the Indian equity market.
- When
- The recommendations were for Monday, 21 September; the year is not specified.
- Why
- The recommendations were presented as stock picks after a week affected by elevated crude oil prices, rising global bond yields and inflation concerns.
Key facts
- Recommended stocks
- Equitas Small Finance Bank, Meghmani Organics and Filatex India
- Equitas Small Finance Bank
- Buy at ₹74.09; target ₹81; stop-loss ₹70.50
- Meghmani Organics
- Buy at ₹63.14; target ₹70; stop-loss ₹59.60
- Filatex India
- Buy at ₹93.83; target ₹104; stop-loss ₹89
- Sensex close
- 74,294.46, reported down 0.65%
- Nifty 50 levels
- Support at 23,150–23,200 and immediate resistance at 23,450–23,500
- Bank Nifty levels
- Support at 56,000–56,100 and resistance at 56,700–57,000
Quotes
Sumeet Bagadia
Executive Director at Choice Broking and the analyst providing the stock recommendations
““Sectoral participation was largely positive, led by Metal (+1.51%), Media (+1.34%), Realty (+1.19%) and Chemical (+1.17%), while IT (-1.03%), Consumer Durables (-0.43%), FMCG (-0.23%) and Auto (-0.11%) remained weak.””
livemint.com
““Buying interest was visible across both PSU and private-sector banks, with HDFC Bank gaining around 2.5% and providing support to the index.””
livemint.com
Sources
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