Stocks to buy in India following RBI's repo rate decision
What's the story
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) has decided to keep the repo rate unchanged at 5.25%. The decision comes amid a volatile global situation and the US-Iran ceasefire agreement. The MPC observed that while the West Asia conflict poses risks to inflation and growth, India's economic fundamentals are resilient enough to withstand such shocks. So, which stocks should you bet on right now? Let's find out.
Advice
Stocks to consider
In light of the RBI's decision, experts have recommended investing in several rate-sensitive stocks. These include Federal Bank, Godrej Properties, Poonawalla Fincorp, State Bank of India (SBI), Prestige Estates Projects, Bank of Maharashtra (BoM), Shriram Finance Ltd, Bajaj Finance Ltd, Axis Bank, and Indian Bank. Rajesh Palviya from Axis Securities suggested a buy strategy for Federal Bank with a target price of ₹295 and stop-loss at ₹266.
Investments
Target prices and stop-loss levels for recommended stocks
Palviya also recommended Godrej Properties with a target price of ₹1,800 and stop-loss at ₹1,500. Vidnyan Sawant from GEPL Capital suggested SBI as a buy with a target price of ₹1,102 and stop-loss at ₹991. For Bank of Maharashtra (BoM), he suggested a buy strategy with a target price of ₹72 and stop-loss at ₹64.