Benchmark indices are marginally higher today after a bloodbath in yesterday’s session. The thirty-share index is hovering at 52,988.11 points, up 0.27%, while the fifty-share index is trading at 15822.50 levels, up 0.30%. Investors are worried about inflation and interest rate hikes by central governments, along with unrelenting foreign fund outflows.
Many investors find it suitable to buy stocks at this time. Here are four PSU stocks that are trading below ₹ 100 levels:
National Aluminium Company Limited:
The shares of National Aluminium Company Limited, a Navratna CPSE, are trading at ₹ 84.70 apiece. They had reached a 52-week high of ₹ 132.70.
Ace Investor Rakesh Jhunjhunwala holds a 1.4% stake in the company. He has 2.5 crore shares worth 211.5 Cr in this company which is the lowest-cost producer of metallurgical grade alumina and Bauxite in the world as per a Wood McKenzie report.
Axis Securities has a buy call on the shares of NALCO, with a target price of ₹ 107. The time period given by the analysts is one year. This indicates an upside of 26.32%.
Steel Authority of India Limited:
The shares of one of the largest steel-making companies in India, Steel Authority of India Limited are currently trading at ₹ 71.95. They had reached a 52-week high of ₹ 145.90. The shares have corrected sharply from their 52-week high due to fears of waning demand, input cost inflation, and the recent imposition of export curbs.
Centrum Broking has a buy call on the shares of Steel Authority of India Limited with a target price of ₹ 132. The time period given by the analyst is one year. This translates to an upside of 83.46%.
Bharat Heavy Electricals Limited:
The shares of integrated power plant equipment manufacturer, Bharat Heavy Electricals Limited (BHEL) are trading at ₹ 47.45. They had reached a 52-week high of ₹ 80.35 apiece.
Geojit BNP Paribas has a hold call on the shares of BHEL with a target price of ₹ 56. This indicates an upside of 18.01%.
Hindustan Copper Limited:
The shares of a vertically integrated copper-producing company, Hindustan Copper Limited are trading at ₹ 97.30 levels. They had reached a 52-week high of ₹ 172.70 and are therefore available at a discount of 77.49% from their 52-week high. There are no targets available for the shares, as of now.
Edited By – Simran Bafna
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