Hindustan Petroleum Corp., Ramkrishna Forgings Ltd., and Himadri Speciality Chemical Ltd. are three midcap stocks that Vaishali Parekh of Prabhudas Lilladher Pvt., and Nirav Asher of Latin Manharlal Sec Pvt. recommend for investment on Wednesday.
Parekh, vice president, technical research T Prabhudas Lilladher Pvt., sees HPCL as a top pick for long term and short term investment, and suggests to hold the stock. "All the OMC stocks are doing well off late. Right now, the trend is intact. Keep a stoploss around Rs 440 and continue holding the stock," she said.
Himadri Speciality Chemical Ltd. is another pick by Parekh on the midcap segment. Parekh suggests a 'hold' on the stock, as it is poised for a target of Rs 650-700 from here on for long term. "While Rs 540 serves as a crucial resistance, Rs 460 will act as the support band and Rs 450 as stoploss. Once the stock reaches Rs 540 it will be looking for higher targets," she said.
Nirav Asher, head equity research analyst at Latin Manharlal Sec Pvt., has Ramkrishna Forgings as his top pick for long term investment. The company is known for supplying world class forged, machined and fabricated products to diverse sectors like automotive, railways, farm equipment, earth moving, mining and construction, oil and gas, power and general engineering.
"I recommend a hold from the current levels, as one can expect an upside in next 2-3 years," he said.
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