Three best stocks to buy today, recommended by Raja Venkatraman of NeoTrader for Thursday, 3 April
• Gujarat Alkalies And Chemicals Ltd: Buy above ₹650, stop ₹628, target ₹695-715
• Suzlon Energy Ltd: Buy above ₹58 , stop ₹55, target ₹65-68
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• MRPL: Buy above ₹140, stop ₹133 target ₹148-153
Key factors considered:
Fundamental Strength: We analyze companies with solid financial metrics, including consistent revenue growth, high profit margins, low debt-to-equity ratios, and a strong return on equity (ROE). These indicators signal financial stability and operational efficiency.
Emerging Sectors: We focus on high-growth industries such as renewable energy, biotechnology, and artificial intelligence, where companies often have untapped potential and long-term scalability.
Management & Innovation: A company’s leadership, business model, and innovation capabilities play a crucial role in its success. Businesses with strong management teams and unique offerings are often well-positioned for sustained growth.
Three stocks to buy today, recommended by NeoTrader’s Raja Venkatraman:
• Gujarat Alkalies and Chemicals: Buy above ₹650, stop ₹628, target ₹695-715
Gujarat Alkalies and Chemicals Ltd (GUJALKALI), a key player in the chemical industry, has been expanding its production capabilities and diversifying its portfolio. The company is investing in new projects, including a caustic soda plant and other chemical facilities, to strengthen its market position and cater to rising demand.
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In Q3FY25, GUJALKALI posted steady financial performance, with revenue growth supported by increased production and operational efficiency. The company remains focused on sustainability and innovation, aligning with industry trends and environmental standards.
The stock has surged 20% since early March, followed by some profit booking. However, prices have held firm without significant damage, and Wednesday’s volatility expansion has reinforced bullish momentum. The last few weeks have been a period of consolidation, but with momentum picking up, long opportunities appear favorable.
Currently, the formation of a strong bullish candle signals renewed upward momentum. A rebound from lower levels, coupled with sustained buying interest, suggests further upside potential.
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Technically, steady accumulation at lower levels has resulted in an inside candle bottom formation in mid-March, indicating a potential base. The rising Positive Directional Movement Index (DMI) further supports the bullish outlook. With prices showing signs of strength, this could be a good opportunity to go long at current levels.
• Suzlon: Buy above ₹58 , stop ₹55, target ₹65-68
Suzlon Energy Ltd, a leading provider of renewable energy solutions, continues to strengthen its position in the wind energy sector.
In Q3FY25, the company achieved record quarterly deliveries of 447 MW, bringing its nine-month total to 977 MW. Suzlon also reported a 91% year-on-year surge in profit, with a net profit of ₹388 crore and an Ebitda of ₹500 crore, reflecting enhanced profitability.
The company is expanding its manufacturing capacity to 4.5 GW, with upgraded facilities in Puducherry and Daman. Its order book stands at a record-high 5.5 GW, fueled by a strategic focus on Commercial & Industrial (C&I) and Public Sector Undertaking (PSU) clients.
After experiencing a steady decline for most of 2024 due to prolonged profit booking, Suzlon has been forming a strong base over the past few months. A double-bottom pattern has now triggered a sharp recovery, signaling a potential trend reversal.
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A decisive move above the key resistance zone at ₹55, as indicated by technical charts, suggests further upside potential. The recent long-body candle formation highlights sustained buying interest, reinforcing bullish sentiment. With momentum picking up, this presents a compelling opportunity to go long.
• MRPL: Buy above ₹140, stop ₹133 target ₹148-153
Mangalore Refinery and Petrochemicals Ltd (MRPL), a subsidiary of ONGC and a Schedule ‘A’ Mini Ratna company, continues to enhance its operational efficiency and innovation.
In Q3FY25, MRPL posted a net profit of ₹309 crore, marking a strong turnaround from a ₹697 crore loss in the previous quarter, despite a 12% decline in revenue to ₹21,871 crore. The company also achieved a milestone with its highest-ever crude processing volume of 4.54 million tonnes and successfully processed Venezuelan Merey-16 crude for the first time.
The company is focused on diversifying crude sources and optimizing production efficiency, strengthening its foothold in the refining and petrochemical sector despite global market challenges.
MRPL has witnessed strong recovery, with renewed buying interest following a breakout above key resistance levels around ₹130. The rebound from lower levels, supported by strong momentum, suggests further upside potential. Prices are holding firm near the moving average bands, reinforcing a bullish outlook.
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With an upward trajectory taking shape, the breakout from the recent consolidation phase indicates growing bullish momentum. The rising Average Directional Index (ADX) signals strengthening trend momentum, making this a promising long opportunity.
Raja Venkatraman is co-founder, NeoTrader, and a Sebi-registered research analyst. His research analyst registration number is INH000016223.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
