Reliance Industries, Aarti Industries & Voltas: Here's what Nilesh Jain of Centrum Broking says on these 3 stocks

Nilesh Jain, AVP - Derivative and Technical Research at Centrum Broking, on Wednesday picked Reliance Industries Ltd (RIL) as one of his top picks for the day. "The stock is already up close to 3.5 per cent and it is near its all-time high. Next targets for the RIL stock will be around Rs 2,620-2,650. It can still be bought at current levels, keeping a stop loss placed below Rs 2,555," Jain told Business Today TV. RIL's stock was last seen trading 0.96 per cent higher at Rs 2,582.90.

The other stock which the market veteran suggested was Aarti Industries Ltd. "The stock is heading towards Rs 630 on an immediate basis. Stop loss can be placed below Rs 602," Jain stated. Aarti Ind's counter was up 0.11 per cent at Rs 609.45.

When asked about Voltas Ltd, he said, "The upside target is around Rs 960 on an immediate basis, followed by Rs 1,000 from positional point of view. Stop loss should be placed at Rs 915. Those who are already holding can continue to stay put for the long term." Voltas gained 5.96 per cent to trade at Rs 950.05.

Meanwhile, Indian equity benchmarks scaled their fresh all-time highs in Wednesday's early deals, led by gains across all sectors. The 30-share BSE Sensex pack surged 476 points or 0.67 per cent to trade at 71,913, while the broader NSE Nifty moved 140 points or 0.65 per cent up to trade at 21,593. Mid- and small-cap shares were also positive.

Foreign institutional investors (FIIs) sold Indian shares on a net basis during the previous session, offloading Rs 601.52 crore, while domestic institutional investors (DIIs) bought shares worth Rs 294.35 crore.

All 15 sector gauges -- compiled by the NSE -- were trading in the green. Sub-indexes Nifty FMCG and Nifty IT were outperforming the NSE platform by rising as much as 1.08 per cent and 1.22 per cent, respectively.

On the stock-specific front, LTI Mindtree was the top gainer in the Nifty pack as the stock jumped 2.41 per cent to trade at Rs 6,260. Wipro, TCS, Britannia and Eicher Motors gained up to 1.97 per cent.

In contrast, Axis Bank, Sun Pharma, ICICI Bank, Grasim Industries and UPL were among the top laggards.

The overall market breadth was positive as 2,290 shares were advancing while 1,167 were declining on BSE.

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

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