Best Low Price Share to Buy in June 2021
Best low price share to buy in June 2021: Indian markets gained for the third consecutive week in a row amid a sharp fall in coronavirus cases and reopening of business. The benchmark indices were up more than one percent while broader markets outperformed the benchmark indices during the week ended 4 June. The Nifty midcap index rallied above 3 percent while smallcap indexed jumped 2.3 percent during the week.
The three combined week’s performance also showed that broader markets outshined the frontline indexes. Markets experts feel that the momentum will continue in the next week too. That’s the reason we have selected the best large-cap and mid-cap low price share that you can buy in June 2021.
4 Best Low Price Share in NSE
PNB- CMP-Rs 43.1| BUY at CMP | Target- Rs 51
Our best low price share to buy in June 2021 is Punjab National Bank (PNB) at the current market price. PNB is a public sector bank having Rs 47,450 crores market capitalization. This is one of the oldest banks in India having a presence in every important city of the country.
On Friday 4 June, the bank posted a standalone profit of Rs 586.33 crore for the Q4 ended March 21, aided by a good increase in interest income and marginal improvement in NPA’s. The bank had reported a loss of Rs 697.20 crore in the same period the previous year, prior to the merger with OBC and United Bank.
The share price of PNB closed at Rs 43.1 on Friday, June 4. It has gained 2.1 percent during the week and 18.4 percent monthly basis. The share price of PNB has touched Rs 46.35 as 52-weeks high and Rs 26.3 as a 52-weeks low. We feel PNB can be a good bet for the short term as technically it is in an uptrend and improvement in Q4 results can help to achieve the target.
The share price of PNB is technically strong, its RSI is 66.4 indicates it is not in the overbought zone. The MACD is 1.85 and Signal Line is 1.35, which indicates PNB is technically strong. According to the Exponential moving average (EMA), PNB is in a strong uptrend and has a major support level at Rs 40- 38.45
Our Stock Recommendation– We recommend buying this low price share at the current market price of Rs 43.1 with a stop loss of Rs 40 for the target of Rs 45 – 46.70 – 51
L&TFH- CMP Rs 97.5 | BUY at CMP and on DIPS| Target- 115
Our second choice for potential low price share is L&T Finance Holding (L&TFH). It’s an L&T group company having Rs 24088 crores market capitalization as of date. The company is offering a focused range of financial products and services across rural housing and wholesale finance sectors as well as mutual fund products, and wealth management services.
The share price of L&TFH closed at Rs 97.5 per share on Friday, 4 June. On a weekly basis, the share price of L&TFH gained 4.17 percent and 14.6 percent gained on a monthly basis. The share price has touched Rs 113.4 as 52-weeks high and Rs 55.6 as a 52-weeks low. On the last trading day, the share price gained more than 4% with high volume, we feel the positive momentum of the stock will continue.
L&TFH is technically strong, the RSI of L&TFH is 63.9 not in the overbought zone. The MACD line is 1 and the Signal line is -0.05. The Exponentially moving average indicates the share price of L&TFH is in a strong uptrend and has strong support levels at Rs 92
Recommendation: We recommend buying the share of L&TFH at CMP or on dips around Rs 95.50 levels for the target of Rs 103- 109-115 with a stop loss of Rs 91.70
HUDCO- CPM- Rs 51.05 | BUY at CMP | Target- Rs 60.20
Housing & Urban Development Corporation Ltd ( HUDCO) is one of the best low price shares to buy in June 2021. HUDCO provides housing and utility infrastructure services in India. The company is mainly engaged in loans and financial assistance for housing activities, including urban as well as rural housing. The company has a Rs 10,219 crores market capitalization and falls under the midcap category.
The share price of HUDCO closed at Rs 51.05 on Friday, 4 June. HUDCO’s share price gained 7.59 percent last week and 19.4 percent on a monthly basis. The share price of HUDCO touched 52-weeks high at Rs 54.9 and a 52-weeks low at Rs 23.45. We feel the stock is in an uptrend and would be a good bet for the short term.
Technically, the stock is strong and its RSI is 66.3 not in an overbought zone. MACD line is at 1.55 and the Signal line is at 1.30 on a daily chart. According to exponential moving average analysis, HUDCO is in a strong uptrend and has major support levels at Rs 47.65- 46
Recommendations: We recommend buying this low price share in nse at CPM for the target of Rs 54.80- 57.45- 60.20 with a stop loss of Rs 47.65
Federal Bank- CMP Rs 87.85 | BUY at CMP or on Dips| Target Rs 99
Our 4th low price share recommendation is Federal Bank. It is a major Indian commercial bank in the private sector having 1200 plus branches across different states in India. The total market capitalization of the Federal Bank is 17537 cr at present.
The share price of Federal Bank was down 1.29 percent during the week but gained 11.8 percent on monthly basis. The share price of Federal Bank touched Rs 92.5 as a 52-Weeks high and Rs 44.05 as a 52-Weeks low. We feel the Federal bank can be a good bet as it is technically strong.
The RSI is 62.8, according to RSI analysis, the Federal bank is technically strong and not in the overbought zone. The MACD is at 2.41 and the Signal Line is at 2.31. The exponentially moving average indicates the stock is in an uptrend and has a major support level at Rs 85
Recommendation: We recommend buying the stock at CMP or on dips with a stop loss at 84.50 for the target of Rs 94- 96.40- 99
You can also follow our Daily Morning Report and Nifty and Bank Nifty futures trading levels.
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