Stocks to Buy Today: February 24 2022 - Birla Cable, Praj, BEML Ltd

Every morning our analysts scan through the markets universe and chose the best momentum stocks to buy today. The stocks are recommended from a wider list of momentum stocks and only the best ones make it to the top 5 list. We also update on the performance of earlier recommendation every morning to help you with your trading journey. Read on to know the momentum stocks to buy today. The average holding period could be between 7-10 days on average.

List of 5 Stocks to Buy Today February 24

1. BEML LTD (BEML)

BEML Ltd. is involved in the business activities of Manufacture of earth-moving machinery (bulldozers, angle-dozers, graders, scrapers, levellers, mechanical shovels, shovel loaders, off-road dumping trucks etc.). Company’s Total Operating Revenue is Rs.3557.21 Cr. and Equity Capital is Rs.41.77 Cr. for the Year ended 31/03/2021. BEML Ltd. is a Public Limited Listed company incorporated on 11/05/1964 and has its registered office in the State of Karnataka, India.

BEML Share Price Details for Today: 

- Current Market Price: Rs.1,592

- Stop Loss: Rs.1,550

- Target 1: Rs.1,635

- Target 2: Rs.1,700

- Holding Period: 1 week

5paisa Recommendation: Our technical experts expects further buying opportunity in this stock and hence making this stock as the best stock to buy today.

2. Birla Cable (BIRLACABLE)

Birla Cable is involved in the business activities of Manufacture of fibre optic cables for data transmission or live transmission of images. Company’s Total Operating Revenue is Rs.328.52 Cr. and Equity Capital is Rs.30.00 Cr. for the Year ended 31/03/2021. Birla Cable Ltd. is a Public Limited Listed company incorporated on 30/06/1992 and has its registered office in the State of Madhya Pradesh, India.

BIRLACABLE Share Price Details for Today: 

- Current Market Price: Rs.132

- Stop Loss: Rs.128

- Target 1: Rs.136

- Target 2: Rs.142

- Holding Period: 1 week

5paisa Recommendation: Our technical experts observed positive chart for this stock and hence making this stock best stock to buy.

3. Praj Industries (PRAJIND)

Praj Industries is involved in the business activities of Manufacture of other special-purpose machinery. Company’s Total Operating Revenue is Rs.1088.54 Cr. and Equity Capital is Rs.36.65 Cr. for the Year ended 31/03/2021. Praj Industries Ltd. is a Public Limited Listed company incorporated on 08/11/1985 and has its registered office in the State of Maharashtra, India.

PRAJIND Share Price Details for Today: 

- Current Market Price: Rs.351

- Stop Loss: Rs.342

- Target 1: Rs.360

- Target 2: Rs.373

- Holding Period: 1 week

5paisa Recommendation: Recovery on cards in this stock is expected and thus making this stock as one of the best stocks to buy today.

4. Elgi Equipments (ELGIEQUIP)

Elgi Equipments is involved in the business activities of Manufacture of other pumps, compressors, taps and valves. Company’s Total Operating Revenue is Rs.1100.17 Cr. and Equity Capital is Rs.31.69 Cr. for the Year ended 31/03/2021. Elgi Equipments Ltd. is a Public Limited Listed company incorporated on 14/03/1960 and has its registered office in the State of Tamil Nadu, India.

ELGIEQUIP Share Price Details for Today: 

- Current Market Price: Rs.352

- Stop Loss: Rs.343

- Target 1: Rs.361

- Target 2: Rs.372

- Holding Period: 1 week

5paisa Recommendation: Our technical experts see stock is near support hence making this stock best stock to buy.

5. Mangalam Global (MGEL)

Mangalam Global Ent is involved in the business activities of Manufacture of vegetable and animal oils and fats. Company’s Total Operating Revenue is Rs.907.78 Cr. and Equity Capital is Rs.25.09 Cr. for the Year ended 31/03/2021. Mangalam Global Enterprise Ltd. is a Public Limited Listed company incorporated on 27/09/2010 and has its registered office in the State of Gujarat, India.

MGEL Share Price Details for Today: 

- Current Market Price: Rs.165.5

- Stop Loss: Rs.162

- Target 1: Rs.169

- Target 2: Rs.174

- Holding Period: 1 week

5paisa Recommendation: Positive momentum in stock is expected and thus making this stock as one of the best stocks to buy today.

Share Market Today

SGX Nifty:

SGX Nifty indicates a gap-down opening for the Indian markets. SGX Nifty is trading at 16,725 levels, down 338 points. (Updated at 8:35 AM).

International Market

Asian Market:

Asian stocks trade lower. Japan's benchmark Nikkei 225 is down 1.09% to trade at 26,161.46. Hong Kong's Hang Seng is trading down 1.96% at 23,197.67, while the Shanghai Composite trades down 0.30% at 3,478.73.

US Market:

US stocks closed lower as Ukraine declared an emergency. The Dow Jones Industrial Average closed down 1.38% at 33,131.76; the S&P 500 closed down 1.84%, at 4,225.50; and the Nasdaq Composite closed down 2.57% at 13,037.49.

Also read: Chart Busters: Top trading set-ups to watch for Thursday