Top Stock Picks Today: Patanjali, KNR Constructions, and Renuka Sugars – Expert Recommendations

Stock Market Update: On Wednesday, the Sensex and Nifty 50 saw slight gains thanks to a strong performance by Maruti Suzuki India. Analysts believe that profit booking will continue as long as the indices stay near their all-time highs.

As of 9:27 a.m. IST, the Sensex rose 0.18% to 81,587.17, and the Nifty 50 increased by 0.16% to 24,899.55 points.

Dr. V K Vijayakumar from Geojit Financial Services thinks SEBI’s action against speculative F&O trade will make the market rise healthier. He expects favorable global signals for a possible rate cut from the US Fed in September.

Aakash K Hindocha from Nuvama shares his insights on Nifty 50 and Bank Nifty. He expects Nifty 50 to rise to 25,200 / 25,350, with support at 24,500 – 24,550. For Bank Nifty, he sees support at 51,500 and targets of 52,300 and 53,000.

Top Stock Recommendations by Aakash K Hindocha:

1. Patanjali Foods Ltd (Buy)

• Last Closing Price: ₹1,707.85
• Stop Loss: ₹1,650
• Target Price: ₹1,835
• Patanjali Foods is expected to rise further after a strong breakout, with potential gains of 7-8%.

2. KNR Constructions Ltd (Buy)

• Last Closing Price: ₹409.80
• Stop Loss: ₹395
• Target Price: ₹448
• KNR Constructions has broken out to new highs and is expected to gain around 10%.

3. Shree Renuka Sugars Ltd (Buy)

• Last Closing Price: ₹52.16
• Stop Loss: ₹50.10
• Target Price: ₹57.00
• Renuka Sugars is poised for a quick 10% move after a strong breakout from a long-term trendline.

These stock picks are based on technical analysis and market trends, suggesting potential gains for investors.