Hindustan Aeronautics Ltd., Bharat Heavy Electricals Ltd., and Indian Oil Corporation Ltd. were three of the PSU stocks under analyst's radar on June 10.
PSUs are companies that are owned by the government. The government has to have at least 51% stake in the companies for them to be considered public undertakings.
The spolight was on Swati Hotkar from Nirmal Bang Securities and Astha Jain from SEM Securities as they shared their insights with NDTV profit on these PSU stocks.
Hindustan Aeronautics
Swati maintained a 'hold' call on this PSU defence stock on account of expectations that the momentum rally will persist. She said, "I would suggest to hold on the long positions because the buying price is very attractive and looking at the current momentum it is heading for a breakout. For short term perspective a target of 5400 levels."
Bharat Heavy Electricals
Astha Jain suggested to 'hold' Bharat Heavy Electrical stating, "The kind of industry this company is working into, they are enjoying very very strong tailwinds very strong demand. The numbers posted by this counter were decent. Overall, it is a good counter to stay invested in with a price target of 290-300."
Indian Oil Corporation
The status of IOC is a bit uncertain according to Swati she noted that while the charts are looking good, the stock is facing a strong resistance of 150 levels from the last 6-7 months. "Currently it's in the consolidation phase, any move on either side will decide the clear trend of the market", explained Swati while adding that shares can be held on the long position with a stop loss of 135.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
