Stocks to buy under ₹100: Sumeet Bagadia recommends 4 shares to buy on Monday – 20 January 2025 | Stock Market News
Source: Live Mint
Stocks to buy under ₹100: Snapping its three-session winning run, frontline index Nifty 50 closed with a loss of about half a per cent on Friday, January 17, dragged by select banking and IT heavyweights, such as Infosys, ICICI Bank, Axis Bank, HDFC Bank and TCS. Foreign capital outflow amid unimpressive Q3 earnings and caution ahead of the upcoming Budget continued weighing on sentiment. Foreign institutional investors (FIIs) have sold off Indian equities worth over ₹46,500 crore in January so far.
Sumeet Bagadia’s stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes the market sentiment is weak. For the sentiment to improve, the benchmark index needs to break and sustain above the 23,500 mark. Amid the Q3 results season, Bagadia suggests one should focus on stock selection and bet on stocks that appear sound on technical charts.
“Overall, the Indian stock market has a negative bias despite the Nifty 50 index closing above the 23,200 level. Dalal Street bias would improve only after a decisive break by the 50-stock index above the 23,500 mark. So, it is better to maintain a stock-specific approach amid the Q3 results season and find out those stocks that look strong in the technical chart,” said Bagadia.
Sumeet Bagadia recommended buying the following stocks on Monday: IRB Infrastructure Developers, Sagardeep Alloys, Medico Remedies and Lloyds Engineering Works.
Stocks to buy on Monday
IRB Infrastructure Developers | Buy at ₹54.89 | Target price: 59 | Stop loss: ₹53.
Sagardeep Alloys | Buy at ₹33.91 | Target price: ₹36.5 | Stop loss: ₹32.5.
Medico Remedies | Buy at ₹65.52 | Target price: ₹70 | Stop loss: ₹63.
Lloyds Engineering Works | Buy at ₹83.72 | Target price: ₹90 | Stop loss: ₹80.
Read all market-related news here
Disclaimer: The views and recommendations above are those of individual analysts, experts, and brokerage firms, not Mint. We advise investors to consult certified experts before making any investment decisions.
