The Indian stock indices closed in red today, July 18, due to selling in IT and banking stocks. Persistence FII outflows due to trade deal concerns have also played a role in dragging down markets on Friday.
Sensex ended at 81,757.73, down 501.51 points or 0.61 per cent today. The 30-share index started the session in the negative territory at 82,193.62 and dragged down further to hit an intra-day low at 81,608.13 amid selling pressure in banking heavyweights like Axis Bank and HDFC Bank, and Kotak Bank.
Meanwhile, market expert Ambareesh Baliga has given some midcap picks for short-term, positional, and long-term, in which investors can invest for a period of 3 to 12 months and expect good profit.
City Union Bank
For the short term, Baliga has given a ‘buy’ recommendation on City Union Bank. The bank has 870 bank branches. It lends to traders and MSMEs. It also deals in retail, housing, gold loans, and home loans.
You can invest for the short term with a target of Rs 250. The stock closed at Rs 212.9 each today, July 18. This means it can provide up to 17 per cent upside from its last closing price.
Mrs. Bectors Food
For the positional term, Mrs. Bectors Food has a ‘buy’ recommendation. It deals in bakery products. Its flagship brands are English Oven, Cremica.Â
The expert has given a target of Rs 1,830 each. You can invest the money for 3-6 months. The stock closed at Rs 1,544.10 each today, July 18. This means it can provide up to 19 per cent upside from its last closing price.
Gravita IndiaÂ
For the long term, we recommend buying Gravita India. It is a Jaipur-based recycling company. The company has four recycling plants in India. It has seven more plants outside the country.
Baliga has given a target of Rs 2,400 each. The stock closed at Rs 1,730 each today, July 18. This means it can provide up to 39 per cent upside from its last closing price.
The views/suggestions/advice expressed here in this article are solely of the investment expert. Zee Business suggests its readers consult their investment advisers before making any financial decision.
