Stock Recommendations Today: Canara Bank, Angel One, Jupiter Wagons Among Top Picks Of Market Experts

Is GE Vernova's share price going to correct given lower OFS price? Should you keep holding Canara Bank? What do experts have to say on capital markets stocks? What should you buy in the railway space?

Astha Jain, senior research analyst at Hem Securities and Swati Hotkar, AVP-equity technical research at Nirmal Bang Securities answer these queries.

Jain: Book partial profits; hold for long term.

Jain has recommended to book partial profits in the stock, as promoter Grid Equipments Pvt. plans to sell up to approximately 2.15 crore equity shares via OFS, with floor price set at Rs 1,550 per share, lower than its current market price.

While the company's fundamental were exceptionally well, valuations are going ahead of industry earnings multiple, according to her. "Those who are in profit right now, partial profit booking is advised as stock will correct till OFS price," she said, adding that long-term prospects are higher.

Jain: Stay invested.

On whether to hold or sell Canara bank, Jain said she liked this counter given strong fundamentals. "I think banking space right now is in a very sweet spot and in that Canara bank is looking decent," she said.

Her immediate target for the stock is Rs 125-130 and it also has the potential to move further upwards, she said, while recommending to stay invested in the stock for one-three months.

At 12:13 p.m., the stock was trading 1.2% higher at Rs 102.11.

Hotkar: Long positions in Angel One. Avoid 5Paisa.

Hotkar's comparative analysis between the two stocks reveals Angel One looks really strong on technical front and is on verge of giving a breakout.

"The fact that it is placed above all the short term moving averages compared to 5paisa," she said, recommending fresh longs and holding any long positions previously till immediate target of Rs 3000-level.

On 5Paisa, however, Hotkar's view is cautious as stock is trading below averages. She recommends avoiding this counter at current market price.

Hotkar: Build fresh longs above Rs 480.

According to Hotkar, this counter is trading under pressure since last six-seven months and has formed a low-top low-bottom formation. Her view remains cautious as long as it trades below Rs 480-level, acting as a very strong resistance level.

Any move above that level, fresh long positions can be build up as it will take the stock to Rs 550-600 level, she said. For long-term horizon, she is positive on the stock, but for churning purpose she recommends holding long positions keeping stop loss of Rs 420 for immediate target of Rs 500, then Rs 550 levels can be seen.

Jain: Remain invested.

"We are positive on the railway space because we believe government capex will pick up in second half," Jain said.

"Jupiter looking decent and potential upside can be seen," she said, as she recommends remaining invested till target of Rs 520-530 levels. At 12:26 p.m., the stock traded 0.2% up at Rs 457.95.

Jain: Hold for long-term.

While Jain said that the company's Q2 was soft and valuations are very stretched, she is positive on second half. She noted that Bharat Dynamics can post strong set of numbers as its order book is decent. Her initial target price for the stock is Rs 1,350-1,400. At 12:33 p.m., the stock traded 4.1% higher at Rs 1,035.05.

Hotkar: Buy on dips.

According to Hotkar, the stock is on the verge of giving upward sloping trendline breakdown, as she remains cautious on current level. According to her, Rs 400 is a crucial support level for it. "Technically we might see some see major sell-off to Rs 370-360 levels," she said recommending fresh long at those levels.

At 12:40 p.m., the stock was 0.7% down at Rs 409.65.