Hemang Jani: BUY Maruti Suzuki and Coal India

Hemang Jani: BUY Maruti Suzuki and Coal India

Market expert Hemang Jani from Motilal Oswal has recommended two stocks for long term. Indian markets surprised market players by gaining nearly 2.5 percent on Tuesday after a negative start for the session. Indian markets have been largely tracking global trends but yesterday’s trading session was an exception.

Jani has suggested BUY Call for automobile major Maruti Suzuki at current levels for target price of Rs 11300. Holding period for this call has been suggested 12 months. Jani is confident that Maruti Suzuki will perform better over next 12 months as the semiconductor shortage issue has been largely resolved.

Maruti Suzuki could show strong sales numbers as the company has planned new vehicle launches over the next quarters. Maruti has been strong fundamentally and many market participants consider it as a good long term bet on Indian automobile sector.

Jani has suggested BUY Call for PSU energy major Coal India at current price for target price of Rs 290. Suggested duration for this call is also 12 months. Coal India could benefit from higher coal prices as European governments plan to reduce their dependence on Russian energy. This could lead to higher prices of many non-renewable energy sources globally.

Investors should conduct due-diligence before investing money. Stock market investments should be evaluated at regular intervals, especially if macro factors change or the company takes a major corporate action that could result in massive difference in financial performance.

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