Stock market expert SP Tulsian of sptulsian.com on Friday said he is bullish on engineering and construction major Larsen & Toubro (L&T) as stock can give a gain of about 10 percent.
Talking about banks, he said, “From here on, the corporate lenders will be driving the Bank Nifty. So focus on all four of the corporate lenders namely SBI, Axis Bank, ICICI Bank and IndusInd Bank"
"One can keep caution on IndusInd Bank. But on stock market appreciation, I am not referring to the Bank Nifty index contribution as ICICI Bank will definitely be having the higher weightage. But SBI and Axis Bank still have much upside to go from here both can rise by about 4-5 percent in the series of January," Tulsian said.
According to Tulsian, BPCL divestment is on track and the government will realise the true value of the company, "Yesterday when the stock corrected, we gave a 'Buy' call at Rs 480. I think the stock has potential to move back to about Rs 510 in this series as there is just an expectation of timeline getting delayed beyond March 31, end of the financial year and not calling off the strategic sale."
Speaking about other stocks, the market expert said, "I have always been saying that Apollo Hospitals is a classic case of accumulation, consolidation and then seeing the profit booking after rise of Rs 100-150. The stock was ruling at Rs 1,380 or so and now I won’t be surprised to see its share crossing Rs 1,500 or maybe Rs 1,510-1,520 in this 5-week series. So yes, keeping the positive view. In fact, this is a typical pattern of Apollo Hospitals seen trading in a range of about Rs 100-125 in the couple of months or so."
First Published: Dec 27, 2019 5:37 PM IST