Stocks to Buy: Expert recommends Adani Power, SAIL; target price

New Delhi: Stock market expert Lovelesh Sharma, founder of MarketFeds Analytics, has given a BUY call on the stocks of Adani Power and SAIL. The s2 stocks have witnessed some momentum in recent weeks and are infrastructure stocks that are likely to witness good risk-reward tradeoffs in the medium to long-term, said Sharma while speaking on the Money9 show segment Chun Chun Ke.

Adani Power target price

Adani Power target price has been fixed at Rs 650-680 per share. The share may be purchased at Rs 604 per share with the stoploss Rs 23 lower at Rs 581 per share.

Adani Power’s share has witnessed high volume for the first time in over the past few months, and is undergoing positive momentum with promoters have removed the pledge against shares. Sharma recommends buying the stock with a short- to medium-term view. Risk-rewards are favourable on Adani Power shares, according to Sharma.

Adani Power’s share price closed 5.83 per cent higher at Rs 613.05 apiece on Thursday.

Adani Power’s share price was down 0.01 per cent over the past day, down 0.78 per cent over the past month, but up 53.61 per cent over the past 6 months. Adani power share price was up 157.48 per cent over the past year.

SAIL target price

Sharma suggested a BUY call on SAIL shares at Rs 158 apiece with a target price of Rs 170-185 per share and stop loss at Rs 151 per share. The stoploss is Rs 145 per share for the long term, according to Sharma. SAIL provides a strong risk-reward trade.

SAIL’s share price was down 4.67 per cent to Rs 153.15 apiece on Thursday.
The stock was down 9.03 per cent over the past 5 days, but up 023 per cent over the past month, and 73.90 per cent over the past 6 months. SAIL’s share price jumped 82.47 per cent over the past year.

Disclaimer: The views expressed here belong to the stock market expert. This article is for information purposes only. News9 does not recommended the buying or selling of stocks, mutual funds or IPOs.)

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