Buy SBI, RIL, ICICI, Bodal Chemicals; Invest with Medium-Long Term View

Though the benchmark indices are trading in red, but the stock market has still remained bullish. Here is a list of top stocks that you should likely buy in the upcoming trading session.

SBI

Though the stock opened at Rs 253.70 and closed at Rs 249.20, yet the investors are bullish about the stock, especially after the recent appointment of newly elected SBI chief Rajnish Kumar. His speech about reducing bad debts and better quality asset numbers has created a furor in the industry. It is believed that his entry will create a positive sentiment in the industry because he has been serving the bank for last three decades. In 1980, he was appointed as a Probationary Officer and now his post has been upgraded to the Chairman of the largest lending bank. His vast experience in handling credit and loan department will make him adept at taking the business challenges. Under his leadership, it is believed that the stocks of SBI would rise. SBI’s new bond index in London stock exchange to keep track of Indian bonds and waiving of closing and minimum balance charges are indicators that best is yet to come.

 

Reliance Industries

The shares of Reliance Industries is known to be the most active stocks. Sensex and Nifty are trading positively due to gain in the stock of Reliance industries. The numbers speak for it, during the final trading hours Reliance Industries was seen to be evaluated at Rs 824.15 while 5.5 points above the lowest and 4.3 points below the highest. Call it because of Jio’s aggressive plans to collaborate with iPhone 8 or its attractive tariff plans, Reliance Industries has shown its prowess.

ICICI Bank

The opening price of ICICI bank started with Rs 276 and closed at Rs 272, indicating that stock has bright future ahead.  Though the stocks are trading at intraday low, yet the investors label it as a a perfect opportunity to BUY because it has the highest level retail clients in the country as compared to the HDFC bank. ICICI Lombard has done fairly well in the insurance industry, thus giving an elevation to the stock of ICICI bank.

Bodal Chemicals

Bodal Chemicals opened at Rs 164.45 and closed at Rs 162.85. The stocks have scaled high after the investor Ashish Kacholia acquired 1% stock in the company through the open market. Safe bet for medium term.

Conclusion

The global set up is positive about the Indian economy and the rupee has shown the recovery signals, and the above-mentioned stocks will act as pie on the cake.