Hot Stock Picks With Anil Singhvi: Buy IEX shares for great returns, says Vikas Sethi

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Hot Stock Picks With Anil Singhvi: Amid bloodbath at Dalal Street, Zee Business Managing Editor Anil Singhvi has strongly batted in favour of those stocks that have strong fundamentals and technical charts. In this regard, the Market Guru asked Vikas Sethi to share his hot stock pick of the day and the TradeSwift expert replied with IEX shares to buy.

Speaking on IEX, Vikas Sethi told Anil Singhvi, “IEX has monopoly in its business segment as it deals in electric exchange trade business. All major power and energy companies are registered here for trade and the company governs around 95 per cent of the market share.” Sethi said that it’s a zero-debt company that makes it a more attractive buy.

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Highlighting the fundamentals of IEX shares, Sethi said, “The Operating Profit Margin (OPM) of IEX is robust 89 per cent and Return on Equity of the company is also at a whopping 45 per cent. Recently, Dalmia Bharat Group that had 10 per cent stake in the company has increased its shareholding in the company by near 3 per cent. They have added their shares at around Rs 206 levels.”

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On his suggestion to the market investors in regard to the IEX shares, Vikas Sethi said, “My suggestion is to buy IEX shares at Rs 190 levels for the short-term target of Rs 205 to Rs 210 per stock mark.” Sethi said that IEX share price has strong support at Rs 185 to Rs 180 that makes the downside risk very low.