Stocks to buy : Brokerage firm Share Khan has selected these 3 stocks with strong fundamentals as its long-term pick for investors with an upside potential of more than 40%.
Stocks to buy : Indian stock market is currently experiencing significant volatility, with the Nifty 50 index currently trading nearly at 23,850 level down by around 150 points today on July, 23. At this time, it’s better for investors to invest in fundamentally strong stocks and stay invested for the long term rather than panicking from the short-term fluctuations of the market in order to make their portfolio insulated from those fluctuations.
Regarding this, brokerage firm Share Khan has selected 3 stocks with strong fundamentals as its long-term pick for investors. Let’s have a look at each of these one by one.
Sky Gold & Diamonds Limited
Sky Gold & Diamonds Limited (NSE:SKYGOLD) designs, manufactures, and markets gold jewellery. This company has a market capitalization of approximately ₹10,500 crore, and at the time of writing this article, its shares are trading at ₹671.85 level on NSE. Brokerage has given a target price (Sky Gold & Diamonds share price target) of ₹850 for this stock, which represents an increase of more than 25% from stock’s closing price of ₹671.25 on NSE yesterday.
APL Apollo Tubes Limited
With a market capitalisation of more than ₹50,000 crores, this company is India’s leading branded steel product manufacturer that manufactures over 1,500 varieties of MS Black Pipes, Galvanised Tubes, Pre-Galvanised Tubes, Structural ERW Steel Tubes and Hollow Sections serving industry applications like urban infrastructures, housing, irrigation, solar plants, greenhouses and engineering.
Share Khan has given a target price (APL Apollo Tubes share price target) of ₹2,460 for the share of APL Apollo Tubes Limited which indicates an upside of approx. 35% from the yesterday’s closing price of the stock on NSE. Yesterday the counter closed at ₹1,822.90 apiece level on NSE. Today at the time of writing this article, company’s shares are trading at ₹1,830.80 level on NSE.
Lumax Auto Technologies Limited
This company is a part of the D.K. Jain Group of companies and engaged in the business of manufacturing and supplying of Automotive Lamps, Plastic Moulded Parts, and Frame Chassis to two, three, and four-wheeler segments. Lumax Auto Technologies LImited has a market capitalisation of over ₹10,000 crores and has partnerships with 7 global players like Yokowo (Japan), JOPP (Germany), to name a few. This company has a market share of over 65% across all passenger vehicle customers.
Share Khan has assigned a target price (Lumax Auto Tech share price target) of ₹2,130 for this share indicating an upside potential of more than 40% from stock’s closing price of ₹1,475.30 yesterday on NSE and at the time of writing this article Lumax Auto shares are currently trading at ₹1,481.20 apiece level on NSE.
Disclaimer : The BUY rating regarding the aforementioned share has been given by the brokerage firm. These do not represent the personal views of the Financial World Online website. This article is for informational purpose only. This website does not recommend the visitors to invest in any stock mentioned on the website. Please do consult your qualified financial advisor before taking any investment related decision.