Adani Enterprises & SBI: Here's what Vinit Bolinjkar of Ventura Securities says on these 2 stocks

Vinit Bolinjkar, Head of Research at Ventura Securities, on Friday selected Adani Enterprises Ltd as one of his top picks for today. "The stock is likely to see Rs 3,700-3,800 in the next six months," Bolinjkar told Business Today TV. Adani Ent was last seen trading 0.72 per cent higher at Rs 3,314.

The other stock which the market expert recommended was State Bank of India (SBI). "In the banking space, SBI is one of the cheapest stocks. Ëxpected target would be Rs 950-1,000 in the next 12 months," Bolinjkar stated. The counter was up 0.93 per cent to trade at Rs 756.25.

From the automobile space, the analyst liked TVS Motor Company Ltd.

Meanwhile, Indian equity benchmarks were up in early deals today, led by gains in banks, financials, automobile, metal and energy stocks. Broader markets (mid- and small-cap shares) were also positive.

12 out of the 15 sector gauges -- compiled by the NSE -- were trading in the green. Sub-indexes Nifty Bank, Nifty Financial Services, Nifty Auto, Nifty Metal and Nifty Oil & Gas were outperforming the NSE platform by rising as much as 0.89 per cent, 0.75 per cent, 1.24 per cent, 1.87 per cent and 1.85 per cent, respectively.

On the stock-specific front, JSW Steel was the top gainer in the Nifty pack as the stock soared 3.74 per cent to trade at Rs 830.05. Tata Steel, L&T, BPCL and ONGC rose up to 3.23 per cent.

In contrast, Apollo Hospitals, Cipla, Dr Reddy's, Infosys and Divi's Labs were among the top laggards.

The overall market breadth was strong as 2,508 shares were advancing while 1,008 were declining on BSE.

Foreign institutional investors (FIIs) bought Rs 1,008 crore worth of shares on a net basis during the previous session, while domestic institutional investors (DIIs) offloaded Rs 230.21 crore worth of shares, exchange data showed.

(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.)