Stocks to Watch: L&T, IEX shine as Nifty consolidates.

Business

Posted by AI on 2025-03-28 14:20:43 | Last Updated by AI on 2025-12-13 03:55:44

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Mumbai, March 28, 2025 – Indian markets are expected to remain range-bound in the near term, presenting a selective opportunity for investors. Bajaj Broking Research has identified Larsen and Toubro (L&T) and Indian Energy Exchange (IEX) as its top stock picks for today, amidst anticipated consolidation in both the Nifty and Bank Nifty indices.

According to Bajaj Broking's latest analysis, the Nifty 50 index is likely to consolidate between 23,800 and 23,200, while the Bank Nifty is predicted to trade within the 52,000-50,500 range. This sideways movement presents an opportunity for discerning investors to focus on specific stocks with strong fundamentals and growth potential.

L&T, a leading infrastructure and engineering conglomerate, has been highlighted for its robust order book and its continued focus on government-led infrastructure projects. The brokerage firm believes that L&T is well-positioned to benefit from India's ongoing infrastructure development push, making it a compelling buy at current levels.

Indian Energy Exchange (IEX), the country's premier power trading platform, is another stock recommended by Bajaj Broking. With the growing demand for electricity and the increasing adoption of renewable energy sources, IEX is expected to witness sustained growth in trading volumes, further strengthening its market position.

"While the broader market remains in consolidation, we believe that L&T and IEX offer compelling investment opportunities," stated a senior analyst at Bajaj Broking. "Both companies operate in sectors with strong tailwinds and possess robust fundamentals, making them attractive additions to any portfolio."

The brokerage firm's recommendations come amidst cautious optimism surrounding the Indian economy. While global uncertainties persist, the domestic market is expected to remain relatively resilient, driven by strong domestic consumption and government spending on infrastructure. Investors are advised to stay vigilant and focus on quality stocks with strong earnings potential in this consolidating market.

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