As Samvat 2079 draws to a close, Progressive Shares has selected a number of stocks for Samvat 2080. Here we take a look at potential targets and the investment rationale behind them.
Basic Ideas: A. Leading Players in Drainage, Irrigation, and Water Supply
B. Government support efforts for water treatment and management
C. Land bank monetization to generate better cash flow
D. Strong brand recall. Healthy order book outlook and recommendations: IHP enjoys strong brand recall. The company is focused on project completion and accelerating on emerging opportunities. Overall, there is immense scope for infrastructure-related activities. The land parcel will enable the company to become debt-free in the next five to six years. We remain positive on the stock and maintain our target of Rs 310.
Technical Outlook: The stock has broken out of the double bottom formation and is now showing signs of a rebound. A deeper pullback provides an opportunity at 26.18, in which case the risk versus reward becomes much more favorable for the bulls. Following the breakout of the pattern, the target reaches Rs346.
Also read: Apollo Micro stock rises 7% after strong second quarter results
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