Stocks to Watch on Wednesday, July 5: LTIMindtree will replace HDFC in the benchmark Nifty50 index, while LIC Housing Finance will likely replace it in the Nifty Financial Services index
Multibagger stock: Jindal Steel & Power shares have surged 289% during the last three years. The stock has zoomed 86% from its 52 week low of Rs 304.80 on BSE.
The brokerage has projected the stock to touch ₹1,088 by FY27, implying a compounded annual growth rate of around 26%. It has also upgraded the rating on Jindal Steel to a buy from reduce earlier. The stock rose 5.7% to ₹575.35 on Monday.
Jindal Steel & Power gave a false breakout of the triangle formation and closed below Rs 600 level. In the last trading session, the stock broke a neckline support with huge volumes.