Mid Cap Picks with Anil Singhvi: Ultramarine Pigments, CreditAccess Grameen and Vesuvius India shares—why these stocks are good for your portfolio
Zee Business Managing Editor Anil Singhvi on the 'Special Mid-Cap Picks Stocks' show spoke to market analyst Ambareesh Baliga and asked for his short-term, positional mid cap and long-term recommendations.
Zee Business Managing Editor Anil Singhvi on the 'Special Mid-Cap Picks Stocks' show spoke to market analyst Ambareesh Baliga and asked for his short-term, positional mid cap and long-term recommendations. Baliga picked Ultramarine Pigments, CreditAccess Grameen and Vesuvius India under these categories.
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Market analyst recommended Ultramarine Pigments as his long-term pick. "The company's products are used in paints, plastic, inks and cosmetics. It also makes specialty chemicals, which is used in soaps, shampoos, detergent and shaving creams—all high-margin businesses. It has also entered into surfactant business. Besides, company is nearly debt-free, last 5 years CAGR is almost 26% and it also offers healthy dividend payout. Fundamentals suggest its target to be Rs 450," said the analyst. Ultramarine Pigments shares closed on Rs 320, up Rs 9 or 2.91 per cent on Friday.
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Baliga's positional pick was CreditAccess Grameen. He said the company has shown loss in Q3 because of provisioning of about Rs 100 crore. He said this stock could show a target of Rs 750 in 9 to 12 months' time. "Expansion in new regions and improved correction suggest growth of around 20 per cent for the company in two to three years. It is expected to grow with over 20 per cent CAGR over the next three years and net profit is also expected to grow in the years to come," said Baliga.
For short-term pick, Baliga recommended Vesuvius India. He said it is a global leader in its segment. "It basically makes refractories, which are used in steel companies. Since steel is in demand and margin of steel-related shares are improving, this scrip is likely to perform well too." Vesuvius India target in short term would be Rs 1250, added Baliga. Vesuvius India gave a closing of Rs 1,068.0 on Friday, up Rs 15.
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