Stocks to buy on 3 June: Indian equity benchmarks rebounded on Tuesday, 3 June, after four consecutive sessions of losses, supported by value buying at lower levels and continued strength in information technology stocks.
The recovery comes after the market had fallen nearly 3% over the previous four trading sessions amid concerns over the Iran conflict and heavy foreign investor outflows. The Nifty 50 rose 0.43% to close at 23,483.55, while the Sensex gained 0.52% to end at 74,649.84.
Sentiment also improved after US President Donald Trump said negotiations with Iran were still ongoing, easing concerns triggered by reports that Tehran had suspended indirect talks with Washington.
What Gift Nifty live chart signals?
The Gift Nifty Live Chart shows a negative start for the Indian stock market today. By 7:39 AM, the Gift Nifty was trading around the 23,482.5 level, a discount of 121 points from the Nifty futures’ previous close of 23,603.10.
Decoding the impact of Gift Nifty live chart and other triggers on Dalal Street, Ponmudi R, CEO of Enrich Money, a SEBI-registered online trading and wealth-tech firm, said that Indian markets are expected to trade with a cautious undertone as prolonged geopolitical uncertainty continues to keep investors in a risk-off mode. Attention remains firmly focused on the ongoing U.S.–Iran diplomatic process, where negotiations have yet to deliver a meaningful breakthrough despite weeks of engagement. The prolonged nature of the talks and the absence of clear progress have tempered optimism, keeping global risk appetite restrained and encouraging a more defensive approach among market participants.
Crude oil prices remain elevated, trading in the $94–96 per barrel range, as markets continue to factor in geopolitical risks and potential disruptions to global energy supplies. On the currency front, the Indian rupee has shown signs of stability, with USD/INR consolidating in the ₹95.0– ₹95.2 range, providing some relief amid an otherwise uncertain macro environment.
Foreign Institutional Investors (FIIs) continue to remain aggressive sellers, with substantial outflows recorded in recent sessions. Persistent foreign selling remains a key headwind for domestic equities. However, Domestic Institutional Investors (DIIs) continue to provide strong counter-support through consistent buying, absorbing a significant portion of FII outflows and helping limit sharper market declines.
Stocks to buy today
Regarding stocks to buy today — Raja Venkatraman is Co-founder of NeoTrader, and stock research platform MarketSmith India, recommended buying these five shares – Vijaya Diagnostic Centre Ltd, Syrma SGS Technology Ltd, Shyam Metalics and Energy Ltd, TruAlt Bioenergy Ltd, and Shilpa Medicare Ltd.
Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman
Vijaya Diagnostic Centre Ltd (current market price ₹1,317)
Why it’s recommended: Vijaya Diagnostic Centre Ltd is India’s largest B2C-focused integrated diagnostic chain offering a wide array of pathology, radiology, and advanced imaging services. The stock had been recommended earlier as well in our article and it continues to perform quite robustly. The strong uptrend remains intact and despite some turbulence in the market the dips are used to buy into. As steady volume build-up is seen we can look at how this counter is able to generate steady upward momentum. The reaction from every swing pullback augurs well look to go long.
52-week high: ₹1,379.30,
Technical analysis: Support at ₹1,225, resistance at ₹1,500.
Risk factors: Heavy geographic concentration in Hyderabad/South India, operational integration hurdles in new geographies, and a premium valuation.
Target price: ₹1,450 (2 Months)
Syrma SGS Technology Ltd (current market price ₹1,166.80)
Why it’s recommended: Syrma SGS Technology Ltd is a prominent Indian Electronic System Design and Manufacturing (ESDM) company, specialising in turnkey electronics manufacturing and magnetic products for the automotive, medical, etc. A rounding pattern at higher levels suggests positive accumulation in the stock. Post some profit booking after the Q4 numbers, the stock has once again caught attention at lower levels. Look to go long.
Technical analysis: Support at ₹1,080, resistance at ₹1,300.
Risk factors: Customer reliance, working capital intensity, and margin pressure.
Shyam Metalics and Energy Ltd (current market price ₹984.65)
Why it’s recommended: Shyam Metalics and Energy Ltd is a leading Indian integrated metal producer specialising in long steel products, ferro alloys, and power generation. A rounding pattern at higher levels spells some positive accumulation happening in the stock. The dips in the counter has been bought into as can be seen from the revival from the Tenkan Sen and Kijun Sen that is seen on the Daily chart. Post some profit booking after the Q4 numbers the stock has once again caught attention at lower levels. Look to go long.
Technical analysis: Support at ₹925, resistance at ₹1225.
Risk factors: Commodity price volatility and cyclical nature of the industry.
Target price: ₹1,090 (2 Months)
Two stock recommendations by MarketSmith India
Buy: TruAlt Bioenergy Ltd (current price: ₹507)
Why it is recommended: Strong presence in ethanol production, beneficiary of India’s ethanol blending program, government policy support for biofuels, growing demand for renewable fuels, expansion in ethanol capacity, diversified feedstock sourcing, beneficiary of energy transition trends, long-term demand visibility, opportunity from higher blending targets, focus on sustainable energy solutions, strong industry tailwinds, potential for scale-driven efficiencies, reduced dependence on fossil fuels theme, growth opportunities in bio-based products, and strategic importance in green energy sector.
Key metrics: P/E: NA, 52-week high: ₹549.00, volume: ₹28.61
Technical analysis: Cup-with-handle base breakout
Risk factors: Dependence on government policies, feedstock availability risks, raw material price volatility, regulatory changes in biofuel sector, margin pressure from input costs, execution risk in capacity expansion, dependence on oil marketing companies, working capital intensive operations, commodity price fluctuations, weather-related impact on feedstock supply, environmental compliance risks, debt-funded expansion risk, competition from other ethanol producers, delays in policy implementation, and valuation risk after listing/IPO.
Target price: ₹580 in two to three months
Buy: Shilpa Medicare Ltd (current price: ₹517)
Why is it recommended: Strong presence in oncology products, growing specialty pharma portfolio, focus on complex generics, expanding biologics capabilities, strong R&D focus, export opportunities in regulated markets, diversified pharmaceutical business, beneficiary of rising healthcare demand, increasing CDMO opportunities, growth in niche therapeutic segments, strong product pipeline potential, capacity expansion supporting growth, improving margin potential from specialty products, long-term growth visibility in oncology, and opportunity from global outsourcing trend.
Key metrics: P/E:45.21, 52-week high: ₹529.80, volume: ₹147.76 crore
Technical analysis: Cup base breakout
Risk factors: Regulatory observations and compliance risks, delays in product approvals, intense competition in generics market, pricing pressure in key markets, R&D execution risk, dependence on regulated markets, currency fluctuation impact, product concentration risk, margin pressure from input costs, patent and litigation risks, delay in commercialization of new products, high capital expenditure requirements, customer concentration risk, supply chain disruptions, and earnings volatility from approval timelines.
Target price: ₹600 in two to three months
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
