Stock Picks: Motilal Oswal Recommends Buying Balkrishna Industries Ltd, Trent, and Torrent Pharma
The Indian stock market benchmarks were in a consolidation phase on June 11, influenced by subdued global cues. The Sensex opened higher but ended lower, while the Nifty 50 closed slightly higher.
Despite the flat closing of the Nifty, the broader market saw gains in sectors like oil & gas and realty. India’s VIX also cooled, boosting investor confidence. The market is currently in a consolidation mode, awaiting key events like US CPI data and the US Fed policy outcome.
Motilal Oswal recommends buying three stocks this week: Balkrishna Industries Ltd, Trent, and Torrent Pharma.
Balkrishna Industries Ltd is in an uptrend and recently gave a range breakout on the monthly scale. The stock is showing positive momentum, and Motilal Oswal suggests buying with a target price of ?3440.
Trent is also on a solid uptrend and trading at lifetime-high territory. The stock has been performing well within the retail sector and is recommended for buying with a target price of ?5250.
Torrent Pharma, within the Pharma Index, is also showing a strong uptrend and recently gave a range breakout on the weekly scale. The stock is expected to reach new record highs, making it a good buy with a target price of ?3100.
Overall, these stock picks from Motilal Oswal offer potential for investors to capitalize on the current market trends and make profitable investments.
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