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The Union Budget is a significant event in India's financial calendar, often influencing investment strategies. This year, analysts have identified several stocks that are expected to benefit from the budget's pronouncements. Among these, GAIL (India) Limited and Power Mech Projects Limited stand out as recommendations from Vikas Sethi of Sethi Finmart.
Sethi's advice centers around the potential for these companies to capitalize on the opportunities presented by the budget. He suggests buying GAIL shares for a target price of Rs 235, recommending investors to enter the market with a stop loss at Rs 215. This implies that investors should sell their shares if the price drops below this threshold, limiting their potential losses.
Similarly, for Power Mech Projects Limited, Sethi advocates a buy strategy, aiming for a target price of Rs 6,400. The recommended stop loss for this stock is Rs 5,490. This signifies the potential for significant gains, while also providing a safety net to manage risk.
While these recommendations are based on Sethi's analysis and expertise, investors should always conduct their own research and due diligence before making any investment decisions. This includes considering their own risk tolerance, investment goals, and the overall market conditions.
Source: Union Budget Stock Picks 2024: L&T, Tata Steel, REC, GAIL, Cummins among analysts' top picks