‘Demerger Tak Rs 750 Jayega': Sanjiv Bhasin's top pick from metal sector
‘demerger tak rs 750 jayega’: sanjiv bhasin’s top pick from metal sector
Sanjiv Bhasin’s top pick: The benchmark equity indices have been trading lower this week. The Index VIX, which measures the volatility in the market, has crossed the 17-mark. On Wednesday, it hit a 52-week high of 18.32. According to veteran market expert Sanjiv Bhasin, the volatility in the markets is due to the recovery in the Chinese economy. The ace investor also highlighted that the quarterly results are on the upside.
Bhasin believes that the election is a big event and suggests that investors take some money off the table, stating that this is a bottom-up process. Midcap stocks performed well yesterday. Bhasin expects momentum in the PSU basket and manufacturing.
The ace investor further pointed out the recent statement of Vedanta Group’s chairman, Anil Agarwal, on critical minerals. Amid rising gold prices, Agarwal has highlighted how investors can potentially find good investment opportunities in other metals.
Agarwal, in a post on X (formerly Twitter), said, “You all must have noticed that the price of gold is currently at an all-time high. This is a recurring cycle. Based on my extensive experience, I’ve observed investors flocking to gold during times of geopolitical and global economic uncertainty.”
“From my long experience, I have seen investors rush for gold at times of geopolitical and global economic uncertainty,” Agarwal said. However, the really amazing, less noticed story, as per Agarwal, is emerging in metals like copper, aluminium, zinc, and silver, all of which are critical minerals.
Agarwal said that India, as the world’s fastest-growing economy which is expanding its manufacturing capabilities, needs to ensure that we are self-sufficient in all these critical minerals. More exploration and simpler clearances are the key.
“While gold is known for its intrinsic value, these critical minerals are almost like gold for their functional value. They are fundamental to new age technologies whether those related to energy transition (solar PV cells, batteries, EVs) or in technologies related to artificial intelligence (advanced semiconductors). What also stands out is that these are green metals. They support a climate-friendly world. They are recyclable. And using the latest technology, they can be mined without damaging the environment,” said Agarwal.
Sanjiv Bhasin Top Picks – Vedanta, Nalco
Vedanta Veteran market expert Sanjiv Bhasin has recommended investors to buy Vedanta shares around Rs 404 for a price target of 445. The ace investor believes that the stock may scale up to Rs 750 till the demerger takes place. Bhasin, however, has cautioned to put a stop loss of Rs 391 on the Vedanta stock.
Bhasin also remains bullish on the National Aluminium Company Limited (NALCO). The market expert has recommended investors to buy NALCO shares at Rs 178 with a price target of Rs 195.
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