A handful of public sector undertakings were once again in the spotlight on NDTV Profit’s Ask Profit segment this Monday, as investors sought clarity on how to position themselves in key government-backed counters.
Among the names discussed were Housing and Urban Development Corp., Power Grid Corp. of India, and Gujarat Mineral Development Corp.
Ajit Mishra, senior vice president of research at Religare Broking, and Nirav Asher, head of equity research at Latin Manharlal shared their insights — particularly in the context of their recent moves and where support and resistance levels are currently shaping up.
Here’s a breakdown of what they said:
HUDCO
Ajit Mishra of Religare Broking flagged HUDCO’s recent rally from its March lows, saying the stock has recovered meaningfully but is now approaching a key technical zone.
He noted that HUDCO is still trading above its major moving averages which is a positive sign, but added that the proximity to these levels warrants caution.
“For someone looking to initiate fresh positions, I would recommend waiting for the stock to decisively cross Rs 235, which is the short-term average. That could signal a return in momentum,” said Mishra.
He pegged Rs 265 as a potential upside target but warned that the current phase could see further consolidation if key levels are not held. “In the interim, Rs 210 should be kept as a stop loss. If it fails to hold that level, the stock may drift sideways,” he added.
Power Grid Corp
Mishra also weighed in on Power Grid, calling it a good candidate for long-term portfolios. However, he cautioned against fresh entries at the current juncture if the goal is short-term gains.
“After failing to hold the Rs 330–335 zone, the stock has been gradually slipping and is now trading below its major averages,” he pointed out.
For those already holding the stock, Mishra advised staying put, noting that the downside appears to be capped around Rs 265–270, where multiple support zones converge.
“If someone has a three-to-six-month horizon, they can consider adding more if the stock approaches those lower support levels,” he said. Alternatively, he suggested waiting for a breakout above Rs 300 to consider fresh buying. “In that case, one could look at upside potential towards Rs 330, which would be around a 10% move from current levels,” he said.
GMDC
Nirav Asher of Latin Manharlal highlighted Gujarat Mineral Development Corp. as a potential player in the rare-earth or critical minerals space, particularly with growing demand for permanent magnets used in electric vehicles and renewable energy applications.
While GMDC’s prospects appear attractive, Asher did point out the limitations of India’s reserves in this category. “The company looks interesting, especially in the mid-cap space, but when it comes to rare earth recycling or self-sufficiency, India still has a long way to go,” he observed.
Asher did not offer a specific technical call but appeared optimistic on GMDC’s strategic positioning in the broader mineral value chain.
Disclaimer: The views and opinions expressed by the investment advisers on NDTV Profit are of their own and not of NDTV Profit. NDTV Profit advises users to consult with their own financial or investment adviser before taking any investment decision.
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