Stocks to buy today: Car companies’ share prices have seen a sharp sell-off over the past half month due to Covid-19 restrictions that forced automakers to close. However, if the unblocking activities and vaccination campaign are accelerated, market experts have advised investors to check out the auto sector stocks as they are available at discounted prices these days. They said Ashok Leyland, Hero MotoCopr, Force Motor, HBL Power and Escorts are some of the auto stocks to buy when the stock market opens today.
Commenting on the reasons for buying auto stocks, Ravi Singhal, vice chairman of GCL Securities, said, “Due to Covid-19 restrictions, most manufacturers have had to close their units, which triggered a heavy sell-off. However, if the unblocking activity and vaccination campaign picks up quickly, those discounted auto stocks can be bought in the medium to long term. “
When asked about the auto stocks to buy today, Ravi Singhal of GCL Securities said Ashok Leyland, Escorts, Hero MotoCorp, Force Motor and HBL Power are some of the most important stocks to add to your portfolio.
1]Accompanying persons: Sandeep Matta, founder of TRADEIT Investment Advisor, said about Escorts stock price target and fundamentals that could support a rally: return on equity) and available at a PE of less than 20. The ideal price to buy Escorts stock is at about ₹1130 levels, however it can be accumulated at the current market price and more can be added at the lower levels with the stop loss of more ₹1060 on a completion basis for the goal of ₹1320 tons ₹1445 within 2 months. “
2]Ashok Leyland: Sandeep Matta of TRADEIT Investment expects a strong rally in Ashok Leyland’s share price: ₹129 is technically a buy with a stop loss of ₹115. It meets with immediate resistance ₹135-136 levels and reaches up to 145-150 levels when crossing. “
3]Hero MotoCorp: Commenting on the price outlook for HeroMotoCorp shares, Ravi Singhal of GCL Securities said: “You can buy Hero MotoCorp for approx ₹2900 tons ₹3000 for goals ₹3333, ₹3666 and ₹3999 in the next six months. However, you have to keep the stop loss at ₹2777 while taking a buy position in the meter. “He said the normal monsoon forecast will result in a reverse migration that will help the company.
4]power motor: Sandep Matta of TRADEIT Investment commented on the price forecast for Force Motor shares: “Force Motor shares are currently trading below their book value ₹1200 Maintain stop loss 1080 for the position target of ₹1500 ₹1800 in a time frame of 6-8 months. “
5]HBL performance: At his suggestion to stock market investors in relation to HBL Power; Sandeep Matta said that the proxy player for goals of ₹53 tons ₹60 in 3 months. However, he advised investors to strictly adhere to the stop loss at ₹38.
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