Indian Markets saw a positive start on Wednesday. The BSE Sensex opened at 53,793.99 points, while the Nifty 50 opened at 53793.99 points. Global markets struggled in the past few days according to developments around the Russia Ukraine Crisis.
Axis Direct has given a buy call on the following stocks for positional trading:
Bharat Electronics
Bharat Electronics Limited is a large-cap company that operates in the Defence sector. Its key products/ revenue segment include Electronic components and equipment and sale of services.
It reported a consolidated total income of ₹ 3761.56 crores in the December quarter (Q3FY22), up 60.48% from the same quarter last year (Q3FY21).
- CMP (₹) – 219.80
- Entry Price range (₹) – 215.00 to 217.00
- Stop loss (₹) – 212.00
- Target (₹) – 323.00
- Duration – 5 to 15 days
Tata Metaliks
It is a subsidiary of Tata Steel and is a leading brand in pig iron and ductile iron pipes in India. It has a hot metal production capacity of 55,000 tonnes and an annual di pipes production capacity of 20,0,000 tonnes.
Higher margins boosted the company’s net profit to ₹75.18 crores, up 55% as compared to the corresponding quarter last year. Its revenue from operations increased from ₹518 crores to ₹526 crores.
- CMP (₹) – 834.55
- Entry Price range (₹) – 838.00 to 846.00
- Stop loss (₹) – 820.00
- Target (₹) – 924.00
- Duration – 5 to 15 days
KPIT Technologies Ltd
The company is an Indian multinational corporation that provides software to automotive companies. It has development centres in India, Europe, USA, Japan, Thailand, and China.
KPIT Technologies reported a net profit of ₹70 crores for the October to December quarter, higher by 70% as against ₹42 crores in the September quarter. Its revenue from operations rose to ₹622 crores, up 20% from the revenue in the corresponding quarter, last year.
- CMP (₹) – 570.95
- Entry Price range (₹) – 560.00 to 566.00
- Stop loss (₹) – 552.00
- Target (₹) – 608.00
- Duration – 5 to 15 days
Bonus Stock
Linde India Ltd (30 days)
The Company is a part of Linde Plc and is one of the leading industrial gas companies in India. They own and operate India‘s largest air separation plant and run more than 20 production facilities and filling stations across the country.
Linde India’s total income from operations increased by 39.27% to 665.62 Crores as compared to the same quarter last year. Its EBIT increased by 44.66% to ₹123.28 Crores during the same period.
- CMP (₹) – 2749.95
- Entry Price range (₹) – 2670.00 to 2717.00
- Stop loss (₹) – 2640.00
- Target (₹) – 2965.00
- Duration – 30 days
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