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HomeINVESTMENT₹272 Share Price; 3 Profitable Best Stocks Before The Budget; Huge Return...

₹272 Share Price; 3 Profitable Best Stocks Before The Budget; Huge Return Possible

Midcap Stocks: The BSE Sensex closed marginally down 36.22 points on Monday (July 8) due to profit booking by investors after the recent rally. 

Nifty also closed almost stable. The budget is going to be presented on July 23. 

To earn from the budget, a market expert has made three best midcap picks for investors. These include infra and power stocks.

Long Term- EIL

The expert has advised buying EIL for the long term. The expert has given a BUY opinion on the stock from a 9 to 12-month perspective. 

He has given a long-term target of Rs 350 per share for the stock. On July 8, 2024, the stock closed 1.62 percent higher at 272.90. 

From this price, the stock can jump more than 28 percent in the future.

The expert says that EIL is a leading company in engineering, consulting, and EPC. 

It provides services to the oil and gas, petrochemicals, green hydrogen, and renewables sectors. 

As the government’s target is to double the market in the coming 10 years, this company will get a huge benefit from it. 

The company has an order book of Rs 8 to 9 thousand crores. The government’s focus on green hydrogen is a huge opportunity for this company. 

The company also produces ethanol from bamboo through new technology. It has set up a plant for Indian Oil (IOC). 

The fundamentals are also very strong. From here the stock will have a better upside.

Positional Term- Genus Power

He has given a BUY rating to Genus Power Infrastructure for the positional term. The target of the stock is Rs 390 per share. 

The stop loss is to be kept at Rs 340. On July 8, the stock closed at 357.95, up 3.51 percent. From this price, the stock can get a return of up to 10 percent in the future. 

Genus Power is a company that provides smart meters. The way there is a demand for power in the power sector. 

The reforms that the government is carrying out. This is a huge opportunity for this company. In the last 6 years, 1 crore smart meters have been installed in the country. 

There will be a demand for 25 crore smart meters in the coming 5 years. Apart from this, the company also manufactures water meters and gas meters. 

The focus will be on the power sector in the budget. In such a scenario the stock could perform well.

The March quarter was very tremendous. The company has done a tremendous turnaround. There was a loss of Rs 11 crore in March 2023, and it has registered a profit of Rs 29 crore. 

FII has a 22 percent stake in the company. Buying the stock with a perspective of 3 to 6 months is advisable.

Short Term- PNC Infra

Market experts have given a BUY opinion in infrastructure sector giant PNC Infra for the short term. Experts have given a target price of Rs 515 per share. 

The stop loss is to be kept at Rs 475. On July 8, 2024, the stock closed 4.94 percent higher at 505.40. 

PNC Infra also does irrigation projects along with roads, bridges, and highways. It also sets up transmission lines. Along with this, nowadays it is also on metro rail projects. 

The company has an order book of Rs 15-16 thousand crores. The company is going to get many orders. The fundamentals of the company are strong. 

The March quarter was also very good. FII and DII also hold a good stake. The stock has to be bought with a perspective of 1 to 3 months.

Disclaimer: This site is only for informational purposes. We do not provide any stoke recommendations or buying advice. We are here to give you the latest news and updates about the share market. We are not responsible for any loss.

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