The Indian market has ended in red with good number of losses for the third session straight in the month of February. Nifty broke the key support level of 15,200 as well turning the indices into red.
Moreover, the Sensex also lost 379.14 points or around 0.73% to close at 51,324.69 levels.
Nifty also declined by 89.90 points or 0.59% to close at 15,119 levels.
However, despite all these negative turns, here are four stocks to pick for long-term by Yes Securities.
The very first stock in the list is ABB India. ABB India offers advanced services and delivers innovative O&M strategies which is why this company is well placed in the industry.
The ABB scrip is trading at a very attractive valuation of 21x FY23 EV/EBIDTA and 21x FY23 E/PE. As per the current data, experts suggest trading in this scrip can give healthy return ratios.
Going forward, the next scrip is Sundram Fasteners with improved financial performance. This scrip is likely to maintain ROEs above 18 percent for upcoming financial years.
However, the stock is currently trading at a valuation of 22x FY23E P/E and 13x FY23E EV/ EBIDTA.
The third scrip suggested by Yes Securities is Cummins India with valuation of 21x of FY23E. This scrip is expected to re-rate further on the back of heavy structural growth.
Wrapping up, the last stock is Steel Strips Wheels.
The brokerage company believes that the company is very well placed in the industry on the back of better margin segments. Hence, it can give better results in the long run as per its current market position.
Check all the recent news updates and share market updates