IREDA, Ashok Leyland, SBI, Mazagon Dock, Narayana Hrudayalaya shares: Expert weighs in

BNK Capital's Rachit Khandelwal sees the 24,100–24,150 range as an immediate support zone for benchmark Nifty50. In a recent interaction with Business Today, the market expert shared his views on select stocks, including Mazagon Dock Shipbuilders Ltd, Narayana Hrudayalaya Ltd and Indian Renewable Energy Development Agency Ltd (IREDA), while identifying Ashok Leyland Ltd and State Bank of India (SBI) as his preferred picks.

Mazagon Dock Shipbuilders

Khandelwal expects the recent uptrend in Mazagon Dock to continue, with Rs 2,770 seen as a near-term supply level. A sustained move above this level could lead to further gains, he said.

For long-term investors, he suggested waiting for the stock to cross Rs 3,020 over the next one or two quarters. A move above that level could open the way for targets of Rs 3,460 and eventually Rs 3,800, according to Khandelwal.

Narayana Hrudayalaya

Khandelwal said Narayana Hrudayalaya has reasonable valuations and disclosed that the stock is part of BNK Capital's long-term portfolio.

He remains bullish on the counter from a medium-term perspective and sees potential for it to move towards Rs 2,080 and eventually Rs 2,400 in the long term.

IREDA

IREDA has underperformed for more than a year, Khandelwal said. However, he advised existing investors against exiting the stock at current levels.

According to Khandelwal, a move above Rs 132, supported by the company's numbers or management commentary, could trigger an upside towards Rs 160. A sustained move beyond Rs 160 could take the stock towards Rs 224–240, he stated.

Ashok Leyland

For Ashok Leyland, Khandelwal recommended keeping a stop-loss at Rs 158. He sees a near-term target of Rs 194, while the stock could potentially move towards Rs 224 over the quarter.

State Bank of India

Khandelwal has set a stop-loss of Rs 998 for SBI. He sees Rs 1,098 as the first target, followed by Rs 1,160 by the end of the September series.