Vedanta, Adani Power shares: Add, hold or book profit? | Daily Calls on BTTV

Nishit Bipin Doshi, Founder of Vidyasagar Investments, said on BTTV's Daily Calls that the overall market sentiment remains weak and Nifty50 may slip towards 23,200 level. During Tuesday's interaction, the expert also shared his views on Adani Power Ltd and Vedanta Ltd.

In response to a query on Adani Power, he said, "The counter has recently recorded a sharp run-up. From a short-term perspective, some profit booking can be suggested as it may correct further around Rs 200 level. One can consider booking profits partially. Investors with a three- to six-month view, can consider holding on to the stock."

On Vedanta, Doshi noted, "For short-term (one- to two-month), one can consider accumulating the stock at current levels, given the momentum in the metal space. Buy around Rs 300-305 levels, expecting near-term targets of Rs 320-330."

Meanwhile, the Anil Agarwal-led company's counter remained in focus following its demerger into four entities. The mining and metals major has spun off multiple businesses from itself.

The restructuring has resulted in the creation of new entities, which are slated for listing on the stock exchanges, including Vedanta Aluminium Metal Ltd, Talwandi Sabo Power Ltd (to be renamed Vedanta Power Ltd), Malco Energy Ltd (to be renamed Vedanta Oil & Gas Ltd) and Vedanta Iron and Steel Ltd.

Here's the full video:

 

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