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Samvat 2083 stock picks | Stocks to buy: As Samvat 2083 kicked off with the Muhurat Trading session on Sunday, long-term investors are expected to find value picks for their stock portfolio. They are highly optimistic after the successive bull run in the pre-Diwali rally on Dalal Street. Easing of Middle East tensions and Brent Crude oil price slipping below $100 per barrel further boosted positive sentiment in the Indian stock market.
According to stock market experts, the winter session is round the corner, and the next two to three quarters are expected to see higher demand for power, both renewable and non-renewable. So, the market tends to discount an event or theme in advance. So, one should look at buying power stocks for the long term. They said that India's summer peak demand continues to reach new record highs annually, ensuring high PLFs for thermal plants as solar infrastructure scales up.
On which power stock to buy, Avinash Gorakshkar, Founder of Avinash Mentor Research, said, “Investors looking for a safer option along with an additional income in the form of dividends can look at buying NTPC and Power Grid Corporation shares. However, for a high-upside play, suitable for high-risk investors, Adani Power shares are the most suitable stock to buy.”
Gorakshkar said that for investors looking for a power stock with low debt-to-equity and robust ROE, shares of Genus Power Infrastructures Ltd can be a good option during Samvat 2083.
Gorakshkar advised investors to avoid Tata Power shares, as the company has lost the legal battle against Klero Capital Partners in the Singapore Court. This legal setback has put an additional ₹6,000 crore of pressure on the company's balance sheet, which is expected to be offset by around one year's net profit.
Comparing Vedanta Power shares with its peers, Anuj Gupta, a SEBI-registered market expert, said, “Adani Power is competing with Tata Power, Power Grid and NTPC, as has the ability to satisfy both primary and secondary investors. However, for secondary investors seeking additional income through dividends, NTPC and Power Grid Corporation appear to be a better choice, as their fundamentals are stronger than those of Vedanta Power. However, those interested in Tata Power have a better option in Adani Power. So, I would suggest investors look at Adani Power first, followed by NTPC and Power Grid Corporation.”
Speaking on the outlook of Adani Power shares, Mahesh M Ojha, VP — Research and Business Development at KC Securities, said, “Adani Power shares have support placed at 194 and ₹183. The Adani Group stock is facing resistance at ₹210. On breaking above this resistance, Adani Power shares may go up to ₹228.”
Decoding the technical outlook of NTPC shares, Ojha said, “NTPC shares have support placed at ₹310 and ₹300 and is facing resistance at ₹330. On breaking above this resistance, NTPC share price may touch ₹350 in the near term.”
On the technical outlook of Power Grid Corporation shares, Mahesh M Ojha of KC Securities said, “Power Grid Corporation shares are facing resistance at ₹270. On breaking above this resistance, the stock may touch ₹288 soon. Existing shareholders are advised to hold the scrip, maintaining a strict stop-loss at ₹253.”
The KC Securities expert said that fresh investors can also buy the stock, maintaining a strict stop-loss at ₹253 for the upside target of ₹288.
Disclaimer: This story is for educational and informational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified financial experts before making any investment decisions.
Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records. <br><br> While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat. <br><br> Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities. <br><br> Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).
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