Godrej Properties & DLF: What Kiran Jani of Jainam Broking says on these 2 stocks

Kiran Jani, Head of Technical Research at Jainam Broking, said real estate stocks have given good returns in a couple of months. On the stock specific front, the market expert selected Godrej Properties Ltd as one of his top picks for the day. "Investors can buy the stock with a stop loss placed at Rs 1,850. Expected target price would be Rs 1,950. Risk-reward ratio is looking good as well," Jani told BT TV on Tuesday. The stock was last seen trading 1.45 per cent higher at Rs 1,876.65.

The other stock which the market expert included in his stock recommendations was DLF Ltd. "One can expect a target price of Rs 680 on the counter, keeping stop loss at Rs 610," Jani stated. DLF was up 0.40 per cent to trade at Rs 629.10 today.

Meanwhile, Indian equity benchmarks traded higher in early trade, pausing their two-day losing run. The domestic indices were up today led by gains in metals and consumer durables. The 30-share BSE Sensex pack rose 223 points or 0.34 per cent to trade at 65,878, while the NSE Nifty moved 72 points or 0.36 per cent up to trade at 19,766. Broader market (mid- and small-cap) shares were mixed as Nifty Midcap 100 climbed 0.23 per cent and small-cap shed 0.05 per cent.

14 out of the 15 sector gauges -- compiled by the NSE -- were trading in the green. Sub-indexes Nifty Metal and Nifty Consumer Durables were outperforming the NSE platform by rising as much as 1.43 per cent and 1.02 per cent, respectively. Nifty FMCG, however, slipped, 0.28 per cent.

On the stock-specific front, Adani Enterprises was the top gainer in the Nifty pack as the stock jumped 2.79 per cent to trade at Rs 2,209.85. Hindalco, SBI Life, JSW Steel and Titan gained up to 2.29 per cent.

In contrast, Britannia, Apollo Hospitals, BPCL, L&T and Tata Consumer Products were among the top laggards.

The overall market breadth was positive as 2,096 shares were advancing while 949 were declining on BSE.

Foreign institutional investors (FIIs) sold off Indian shares worth Rs 646 crore during the previous session, on a net basis, while domestic institutional investors (DIIs) bought shares worth Rs 77.77 crore.

(Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)

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