Hindustan Oil & Metropolis Healthcare: What Kiran Jani of Jainam Broking says on these 2 stocks

Kiran Jani, Head of Technical Research at Jainam Broking, said market is in a structural bull run and usually in such scenario, corrections are short-lived. On the stock specific front, he gave a 'Buy' call for Hindustan Oil Exploration Co Ltd. One can expect a target price of Rs 195, keeping a stop loss placed at Rs 172," Jani told Business Today TV on Friday. The stock was last seen trading 2.67 per cent higher at Rs 184.40.

The other stock which the market expert included in his stock recommendations for the day was Metropolis Healthcare Ltd. "Expected target price on the counter would be Rs 1,740 with a stop loss of Rs 1,680," Jani stated.

Metropolis was up 1.70 per cent at Rs 1,738.15 today.

Meanwhile, Indian equity benchmarks started on a positive note today, led by gains in metal, pharma and state-owned lenders. Mid- and small-cap shares were up as well.

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12 out of the 15 sector gauges -- compiled by the NSE -- were trading in the green. Sub-indexes Nifty Metal, Nifty Pharma and Nifty PSU Bank were outperforming the NSE platform by rising as much as 0.94 per cent, 0.62 per cent and 0.50 per cent, respectively.

On the stock-specific front, Adani Ports was the top gainer in the Nifty pack as the stock jumped 2.07 per cent to trade at Rs 1,040. Hindalco, Britannia Industries, Tata Steel and Divi's Labs gained up to 1.88 per cent.

In contrast, Infosys, ICICI Bank, UltraTech Cement, IndusInd Bank and Axis Bank and Cipla were among the top laggards.

The overall market breadth was strong as 2,190 shares were advancing while 479 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.)