Stocks to buy: Rakesh Bansal recommends HUL and Indiabulls Housing Finance shares to buy for short term

livemint.com:

Stocks to buy: After trading choppy throughout the day, Indian stock market ended lower on Friday. Nifty 50 index lost 33 points and ended at 19,730 levels, BSE Sensex went down 187 points and closed at 65,794 mark while Nifty Bank index corrected 577 points and finished at 43,583 levels. Broad market indices ended minorly in the positive even as the advance decline ratio, though positive at 1.16:1, dipped over the previous day.

So, it become quite tricky to find out value picks for stock investors, especially if they are hunting for short term stock picks. To solve this problem of stock market investors, Rakesh Bansal, Co-founder & Co-partner at Rakesh Bansal Ventures has listed out two stocks for short term and those two stock picks are Indiabulls Housing Finance and Hindustan Unilever Ltd (HUL). 1] Indiabulls Housing Finance: Buy at CMP, target ₹190, target ₹300, stop loss ₹160.

Indiabulls Housing Finance share is currently available at ₹190 apiece levels on NSE. Mortgage player reported marginal 3 per cent jump in net profit to ₹298 crore in July to September 2023 quarter YoY. However, the management of the company said in conference call that they are in talks with corporate for investment.

And this is the fundamental trigger for the NBFC stock. Generally it has been found that a stock gives sharp upside ahead of getting into the F&O ban list. The stock gives sharp upside movement after coming out of the F&O ban list as well.