Buy Glenmark for Rs 345 target: Geojit BNP Paribus Fin Services

In a chat with ET Now, Gaurang Shah, Asst. VP, Geojit BNP Paribas Financial Services, shares his stock ideas for the day.

Which stocks would you recommend to your clients right now?

I have a couple of ideas. I like Glenmark Pharma in the midcap domestic pharma play. Glenmark still has some steam, and we have a price target of about Rs 345. Even Cipla looks very interesting. Other than this, one stock which has been ignored by the market and surrounding a lot of negativity is Sesa Goa. Even when the bad news came out, the stock did not breakout the levels of Rs 310-320 levels. Considering the uptick that we have seen, Sesa Goa is trading at about Rs 340-345. We have a price target of Rs 375-380 with 6-12 months' time horizon. The other stock ideas that we have is Ingersoll Rand and BASF. Both of these companies are very well placed in their respective fields and are cash rich and going forward, the capex plans that they have and the product profile they have given the economic scenario, we expect a significant outperformance to come through from these two companies.