Sumeet Bagadia recommends buying Adani Ports, Power Grid Corporation, and Tata Steel on Monday.

From Hindustan Times: 2024-06-02 14:56:01

The domestic benchmark indices, Nifty 50 and Sensex, closed marginally higher on Friday, ending a weekly decrease as investors adjust portfolios ahead of national elections next week. The S&P BSE Sensex rose by 0.1% to 73,961 points, and the NSE Nifty 50 finished up 0.2% at 22,531 points. Exit polls will forecast election results after voting concludes on June 1. The government’s budget deficit for 2023–24 was 5.63% of GDP, with a fiscal deficit of Rs 16.53 lakh crore according to the Controller General of Accounts. Global cues and Eurozone inflation impact market sentiments. In terms of stocks to buy on Monday, three shares are recommended: Adani Ports and Special Economic Zone Ltd, Power Grid Corporation of India Ltd, and Tata Steel Ltd. Adani Ports has a potential breakout with a price target of ₹1,600, while Power Grid Corporation and Tata Steel also show potential upside. Investors should prudently manage risk by setting stop-loss levels. Remember to consult certified experts before making investment decisions.



Read more at Hindustan Times: Buy or sell: Sumeet Bagadia recommends three stocks to buy on Monday – June 3