Suzlon Energy, Tata Power, GRSE, Bandhan Bank shares: Globe Capital's Gaurav Sharma weighs in on targets

Gaurav Sharma of Globe Capital on Wednesday advised caution at current levels and said the 23,750 mark would act as a crucial level for the benchmark Nifty50.

Responding to a stock-specific query on Garden Reach Shipbuilders & Engineers Ltd (GRSE), the market expert noted that the defence PSU "came up with a seller set of numbers." Sharma told Business Today that he sees the stock heading towards the Rs 3,500 mark in the near term.

On Bandhan Bank Ltd, the expert pointed to a shift in the ongoing earnings season. "There is a complete shift we are seeing this earnings season. The larger banks are actually missing, while smaller ones are gaining. Specifically, Bandhan Bank is quite a performer today. I think the stock could quickly head towards Rs 220-odd levels," he said.

Sharma advised investors holding the stock to maintain their positions, while traders may consider booking profits around the Rs 220 mark.

The expert remains positive on the power segment, highlighting Suzlon Energy Ltd as one of the bullish bets.

"This is in our coverage list as well with a 'Buy' rating. We firmly believe the stock has the potential to rise to Rs 65-plus levels very soon. We have seen a stellar upmove in the past month or so," he stated.

"Apart from this, we are bullish on Tata Power Company Ltd. It is yet to start its upward journey. The way Adani Power Ltd has already shown a strong upmove, Tata Power -- being a little subtle -- could rise towards Rs 480 and higher levels. Inox Wind should also be on the radar. That's how we are looking at the power space," Sharma added.

Separately, he underscored his positive stance on PSU banks. "We remain bullish on the PSU banking pack. We uphold our bullish stance on SBI (State Bank of India) and Canara Bank Ltd from this space," he said.