Best Stocks to Buy – Experts give ‘buy’ tag to these pharma, payment solution companies
Amid Covid-hit Indian stock market, experts have advised to maintain ‘stock specific trade’ focusing on quality stocks with strong fundamentals. They advised investors to keep an eye on the quality stocks available at attractive valuations. Experts said that due to the second wave of Covid-19, pharma and digital payment solution companies are expected to emerge major gainers at Dalal Street. In this regard they recommended SBI Card and Aurobindo Pharma shares to buy today.
Speaking on the shares to buy today Avinash Gorakshkar, Head of Research at Profitmart Securities said, “Due to the negative sentiment caused by second round of Covid fear, even the good quality stocks witnessed profit-booking. So, in the current market scenario, there are some quality stocks available at discounted price giving opportunity for the investors to make money out of it. Due to the lockdown imposed in various states digital payment is expected to go northward and hence SBI Card can be a good share to buy today. Apart from this, I would recommend Aurobindo Pharma shares, which is one of the quality stocks in the pharma sector that has strong fundamentals and can showcase sharp rise once the market gets stablised.”
Gorakshkar said that one can buy Aurobindo Pharma shares at current market price for the immediate short-term target of ₹1,041 maintaining the stop loss at ₹967. Aurobindo Pharma shares had a close price of ₹992.30 on Thursday.
Sugggesting stock market invvestors to buy SBI Card shares Mudit Goel, Senior Research Analyst at SMC said, “SBI card share price is trading in the range of ₹930 to ₹980. Once can buy SBI Card shares at current market price for the target of ₹980 maintaining stop loss below ₹930.”