Stocks to buy: Amid slowed down market momentum, there is no indication of any profit-booking or reversal emerging from the highs. According to stock market experts, Indian indices are at record high but some quality stocks are still available at discounted price and these stocks may showcase sharp rally after a single trigger. They said that Public Sector Unit (PSU) stocks still have potential to go upward as the Government of India (GoI) may look at PSU divestment for generating funds to meet post-Covid financial requirements. They said that one can buy BHEL, Power Grid, NBCC, HUDCO and GAIL shares as they are looking positive from both fundamental and technical perspective.

Speaking on why one should look at PSU stocks Ravi Singhal, Vice Chairman at GCL securities said, “Due to the second wave of Covid-19, the GoI would be facing financial crunch, which they are expected to pare through divestment of PSUs. In fact, Finance Minister Nirmala Sitharaman had also vowed to accelerate PSU divestment while presenting the union budget 2021.”

Speaking on 5 PSU stocks that one can buy when the market opens on Monday Ravi Singhal of GCL Securities said that one can buy BHEL, Power Grid, GAIL, NBCC and HUDCO shares.

Unveiling investment strategy in GAIL shares Sabri Hazarika, Researdcyh Analyst at Emkay Global said, “GAIL expects 6-8 per cent volume CAGR (Cumulative Average Growth Rate) in next e years. Its Gorakhpur fertilizer plant has started commissioning and by Sep’21 will take full gas. Barauni and Sindri should come up by CY-21 end. One can buy GAIL shares at current market price for the target of 190.”

Batting strongly in favour of BHEL, NBCC, HUDCO and Power Grid shares; Ravi Singhal of GCL Securities said, “Power Grid shares can be bought in the range of 237 to 242 for the targets of 255, 266 and 288 maintaining stop loss at 227. BHEL shares can be bought in 72 to 75 range for targets 82, 88 and 97. However, one must maintain the stop loss at 67 while taking buy position in BHEL shares.”

On his suggestion to investors in regard to NBCC shares Ravi Singhal said, “Stock market investors can buy NBCC shares in 52 to 55 range for the target up to 70 maintaining stop loss at 48.”

For those interested in HUDCO shares Ravi Singhal said, “One can buy HUDCO in 50 to 53 range for targets 59, 64 and 74 maintaining stop loss at 47.”

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