Vaishali Parekh, vice president, technical research, Prabhudas Lilladher Pvt., has provided her recommendations for three stocks — Godawari Power and Ispat Ltd., NMDC Ltd., and Paradeep Phosphates Ltd.
Parekh recommends buying NMDC at a target price of Rs 75 with a stop loss of Rs 66. NMDC, formerly National Mineral Development Corporation, is a public sector undertaking involved in the exploration of iron ore, rock, gypsum, magnesite, diamond, tin, tungsten, graphite, coal etc.
NMDC is also the country's largest iron ore producer and exporter, producing more than 45 million tonnes of iron ore from three mechanised mines in Chhattisgarh and Karnataka. NMDC share price has rallied 5% on a year-to-date basis.
The Prabhudas Lilladher expert also pegged a 'buy' rating on Godawari Power and Ispat at a target price of Rs 200 with a stop loss of Rs 180. Godawari Power and Ispat is an integrated secondary steel manufacturer. The primary business segment is iron and steel products. The company is engaged in the business of mining of captive iron ore and manufacturing the iron ore pellets, sponge iron, steel billets, wire rods, HB Wires, ferro alloys and galvanised steel structures with generation of both conventional and non-conventional power for captive consumption.
Additionally, Parekh also suggests buying Paradeep Phosphates at a target price of Rs 173 with a stop loss of Rs 155. Paradeep Phosphates Ltd. is a leading company in the phosphatic fertiliser industry, with a total production capacity of 3 million metric tonnes, including 2.6 million MT of phosphates and 0.4 million MT of Urea.
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