Buy, Sell Or Hold: Tata Power, IRCTC, PG Electroplast, ITC Hotels, RIL — Ask Profit

Indian stock markets were under pressure in a number of counters as investors were monitoring technical levels, valuations and company-specific developments. On NDTV Profit's Ask Profit show, market experts Shahina Mukadam, Independent Market Expert, and Kush Bohra, Founder of Kushbohra.Com, discussed a range of stocks from Tata Power, ITC Hotels, Reliance Industries to PG Electroplast and Bluestone Jewellery and Lifestyle.

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The experts provided a range of sell, hold and add recommendations based on technical indicators, valuations and medium- to long-term prospects.

Tata Power: Sell

CMP: ₹349.50

Kush Bohra recommended investors sell Tata Power at the current levels, as it is still weak.

Tata Power has not performed well, and averaging the stock is not advisable at this stage, he said. The immediate support around ₹345 has been breached, indicating further technical weakness.

Investors who still want to hold the stock should consider a stop-loss in the ₹325–₹330 range.

ITC Hotels: Hold

CMP: ₹164.92

Shahina Mukadam suggested investors hold ITC Hotels, seeing its current prices as attractive.

The company has approximately 13,000 rooms and has plans to cover 18,000 rooms in the next two to three years, the expert said. The management is strong, and the stock has been affected a lot, he added.

At the current price level, Mukadam sees the stock as an opportunity for investors looking to average, and the possibility of better performance going forward.

Reliance Industries: Hold

CMP: ₹1,291.70

Kush Bohra advised investors to hold Reliance Industries (RIL) despite the fact that there is no momentum in the stock.

According to the expert, RIL is trading around historical long-term support zones. But any changes in the stock’s price movement, due to a MSCI rejig, could influence the stock’s near-term price movement and keep pressure on the counter.

RIL investors might be advised to keep a stop-loss in the range of ₹1,250.

PG Electroplast: Can Add

CMP: ₹596.85

Kush Bohra provided a can-add perspective of PG Electroplast for medium-term investors.

Although the stock is still under selling pressure, the expert said that the stock is slowly increasing. Volume activity was also a good sign.

For medium-term investors, the stock could be bought with a positional stop-loss around the ₹560-₹565 level.

Bluestone Jewellery: Hold

CMP: ₹809.55

Shahina Mukadam recommended investors hold Bluestone Jewellery and Lifestyle.

The company’s market capitalisation is more than ₹12,000 crore, and the stock shows signs of recovery after the recent movement, he added.

The rise in gold prices could support the company's performance, he said. The stock may be supported with a stop-loss of ₹780.

Buy, Sell Or Hold: Expert Views At A Glance

The recommendations highlight that stock-specific factors are important in the current market environment. Tata Power is under pressure in terms of technical support, though experts are in favour of ITC Hotels with the valuation and expansion plans of ITC Hotels so far. Reliance Industries is around critical long-term support levels, while PG Electroplast has a medium-term accumulation view. Bluestone Jewellery would benefit from a better gold price environment in the larger market environment as well.

Investors need to note that these views are the opinions of the experts on this particular programme and should not be taken as guaranteed returns. Stock prices can be very volatile depending on the market environment, company developments and economic factors. Investors should also assess their own risk profile and conduct independent research before making investment decisions.