ICICI Securities' Dharmesh Shah Recommends Godrej Properties and Schaffler Shares
Stocks to buy or sell: Dharmesh Shah of ICICI Sec suggests buying Godrej Properties, Schaffler shares on 11 May
Mint
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Dharmesh Shah, Vice President at ICICI Securities, advises investors to buy shares of Godrej Properties and Schaffler amid a volatile market. He sets a target price of ₹2,088 for Godrej Properties and ₹4,738 for Schaffler, with specific buying ranges and stop-loss recommendations.
- 01Nifty 50 closed at 24,176.15, down 151 points (0.62%) amid banking sector losses.
- 02Godrej Properties recommended buy range: ₹1,820-1,875, target price: ₹2,088.
- 03Schaffler recommended buy range: ₹4,100-4,250, target price: ₹4,738.
- 04Overall market capitalization of BSE-listed companies steady at ₹473 lakh crore.
- 05Midcaps and smallcaps are outperforming frontline indices.
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The Indian stock market is showing signs of weakness, with the Nifty 50 closing at 24,176.15, down 151 points (0.62%) due to losses in the banking sector. Despite this, Dharmesh Shah of ICICI Securities remains optimistic, recommending investors buy shares of Godrej Properties Ltd and Schaffler Ltd. He suggests purchasing Godrej Properties within the range of ₹1,820-1,875, with a target price of ₹2,088 and a stop loss at ₹1,718. For Schaffler, the buy range is ₹4,100-4,250, targeting ₹4,738 with a stop loss at ₹3,928. The broader market has shown resilience, with midcap and smallcap indices performing well, while the overall market capitalization of BSE-listed companies remains stable at around ₹473 lakh crore. Shah notes that the Nifty 50 has maintained technical strength despite geopolitical tensions and oil price fluctuations, setting the stage for potential gains in the coming weeks.
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Investors considering these recommendations could see potential gains if the stocks perform as expected, which may influence their investment strategies.
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