The session began on a positive note, but profit-booking and caution ahead of the GST Council meeting led to a downturn in the afternoon. The session also marked the first Nifty 50 weekly expiry on a Tuesday, contributing to intraday volatility. Here are top stocks to buy as recommended by market experts Ankush Bajaj, Raja Venkatraman, and Marketsmith India.
Recommended stocks by Ankush Bajaj for 3 September
Buy: HBL Engineering Ltd — Current Price: ₹854.45
- Why it’s recommended: HBL Engineering is trading at a fresh lifetime high, reflecting strong bullish sentiment. The daily RSI at 81, MACD at 56, and ADX at 46 highlight robust momentum with trend strength. The stock is well supported by major EMAs, indicating sustained buying interest. Recent sharp rallies across capital goods stocks further strengthen the technical breakout.
- Key metrics:
Pattern: Lifetime high breakout supported by EMAs
RSI: 81, strong overbought momentum
MACD: Positive at 56
ADX: 46, strong trend strength
- Technical view: Continuation of bullish trend towards higher zones, as long as price sustains above support.
- Risk factors: Valuation appears stretched after a sharp rally, making the stock vulnerable to profit-taking. High volatility possible after nearly 40% rise in August. Any reversal in capital goods sentiment may lead to quick corrections.
- Buy at: ₹854.45
- Target price: ₹894
- Stop loss: ₹835
Buy: National Aluminium Co. Ltd (NALCO) — Current Price: ₹200.55
- Why it’s recommended: NALCO has broken into a new lifetime high after several failed attempts, with technical indicators supporting continuation. Daily RSI at 65, MACD at 1, and ADX at 12 suggest steady momentum building up. The breakout is supported by rising aluminium demand globally, while strong domestic positioning adds to confidence. A sustained move above ₹200 could extend the rally towards ₹220.
- Key metrics: Pattern: Lifetime high breakout
- RSI: 65, bullish zone
- MACD: Mildly positive at 1
- ADX: 12, trend strength building
- Technical view: Breakout points to further upside potential with immediate target at ₹220.
- Risk factors: Business remains cyclical and heavily dependent on global aluminium prices. Regulatory risks like higher royalties on bauxite can affect margins. Elevated ESG risk profile compared to peers. Exposure to fluctuations in coal and power costs.
- Buy at: ₹200.55
- Target price: ₹220
- Stop loss: ₹191
Buy: CG Power & Industrial Solutions Ltd — Current Price: ₹739.65
- Why it’s recommended: CG Power has broken above its key resistance at ₹720 to register a new 52-week high, confirming strength in trend continuation. The daily RSI at 73, MACD at 9, and ADX at 14 underline positive momentum. Strong investor interest in its semiconductor and industrial projects provides fundamental backing to the breakout, while the stock’s ability to hold above ₹724 validates further upside.
- Key metrics: Pattern: Breakout above ₹720 resistance
- RSI: 73, bullish strength
- MACD: Positive at 9
- ADX: 14, steady trend development
- Technical view: Sustaining above ₹724 paves the way for a rally towards ₹770.
- Risk factors: Valuations remain at a premium versus industry peers, leaving less margin of safety. Supply-chain challenges (e.g., wafer sourcing for OSAT facility) could impact growth. High expectations priced in; any earnings miss may trigger correction.
- Buy at: ₹739.65
- Target price: ₹770
- Stop loss: ₹724
Three NeoTrader’s Raja Venkatraman recommended stocks:
GREAVESCOT: Buy above 227 and dips to near ₹217 , stop ₹207, target ₹247-257
Greaves Cotton Ltd. (GREAVESCOT), a diversified engineering company with a 165-year legacy, has evolved from its roots in single-cylinder diesel engines to a fuel-agnostic, end-to-end mobility solutions provider. Operating across engines, electric mobility, and aftermarket services, the company caters to automotive, construction, agriculture, and industrial segments, while also offering power generation solutions for critical sectors like healthcare and infrastructure.
With a market capitalization of ~ ₹4,600 crore and a P/E ratio near 69, GREAVESCOT is virtually debt-free and maintains a healthy dividend payout of 24%. FY25 performance showed improving operating margins, reaching 8% in the latest quarter, supported by cost control and product mix optimization. However, return ratios remain modest (ROE ~4%), reflecting the ongoing investment phase in new mobility solutions.
As we take a look at the charts the last few weeks have been quite challenging and the attempt to move higher has not met with favourable response yet. A sharp drop into value support zone around 198 managed to holding back the selloff in the last few trading sessions. However, the strong thrust to the upside followed by robust volume that has emerged at lower levels have clearly highlighted that the trends ahead could be resolutely heading higher. Some support from the Average Directional Index (ADX) is hinting at an upward trajectory has certified that the momentum to the upside could now pick up. As the overall market bias continues to be selective engagement one can consider possibility of moving higher in the coming days.
With its strong brand trust, diversified portfolio, and focus on sustainable mobility, GREAVESCOT is positioned to benefit from the structural shift toward cleaner transportation and localized manufacturing. Execution on scaling EV volumes, improving profitability in the electric division, and sustaining growth in core engine and genset businesses will be key to unlocking its next phase of value creation.
• JAYBARMARU: Buy above ₹93 and dips to ₹88 , stop ₹85 , target ₹99- ₹103
Jay Bharat Maruti Ltd. (JAYBARMARU), a key auto components manufacturer and joint venture partner of Maruti Suzuki India Ltd., holds a strong position in the automobile ancillary space, supplying critical sheet metal body-in-white components, rear axle assemblies, and fuel systems across Maruti’s entire model range.
Financially, the company maintains a market capitalization of around ₹930 crore, with a P/E ratio near 18.3 and a dividend yield of ~0.81%, reflecting a shareholder-friendly approach. FY25 EBITDA stood at ₹167.5 crore, supported by improving operating margins, which touched 12% in the latest quarter. While historical sales growth has been modest, recent quarters show margin expansion and stronger profitability, aided by operational efficiencies and cost control.
Sectorally, JAYBARMARU benefits from the sustained growth of India’s passenger vehicle market and the increasing localization of auto parts manufacturing. Management continues to focus on capacity enhancement, technology adoption, and product innovation to meet evolving OEM requirements, including lighter, high-strength components for fuel efficiency and safety.
Every dip has been a strong buying opportunity for this counter.This calendar year has been very intense for this counter. With a display of frequent long body candle the stock has been This counter has been steadily making a higher high higher low in this calendar year after some steady decline since July highs due to some steady profit booking. After forming a long body candle at recent breakout support, the stock is indicating potential to move higher. The revival from the cloud region seen in the last week augurs well for the prices. The volume led rise is leading to a strong recovery. Further the prices are seen reviving holding on to the ascending trendline support that could now produce a rebound.
With its entrenched OEM relationship, improving financial performance, and strategic investments in advanced manufacturing, JAYBARMARU is positioned to leverage the ongoing upcycle in the auto sector, though sustained growth will depend on demand momentum and execution on diversification plans beyond its anchor client.
• BAJAJCON: Buy above ₹243 and dips to ₹225, stop ₹217 target ₹270- ₹285
Bajaj Consumer Care Ltd. (BAJAJCON), a leading FMCG player in the personal care segment, stands out for its strong fundamentals, sectoral resilience, and brand-led innovation. Best known for its flagship Bajaj Almond Drops Hair Oil, the company has expanded into related categories such as Bajaj Jasmine, Bajaj Zero Grey, and Bajaj Gulab Jal, catering to evolving consumer preferences. Financially, it maintains an almost debt-free balance sheet with a debt-to-equity ratio near zero, delivering a healthy return on equity of around 17% and a net profit margin of about 12.8%, supported by steady EPS growth and stable EBITDA margins.
Operating in the resilient FMCG–personal care space, BAJAJCON benefits from consistent demand while tapping into emerging sub-segments like premium hair oils and value-added personal care, particularly in India’s Tier-II and Tier-III markets where grooming awareness is rising. The management’s focus on strengthening brand equity, expanding distribution across traditional and modern trade channels, and innovating through product extensions—such as cooling hair oils and anti-greying solutions—demonstrates strategic agility and market responsiveness.
This counter joins the list of some steady recovery seen in select FMCG stocks that is displaying some resilience. Since the last few trading sessions, the move has been a gradual consolidation forming a rounding pattern in this counter. The steady rise seen in the last 2 days has managed to breach an important resistance around 239 and heading higher. In the last few days, the financial resilience has been acknowledged giving way too much more higher grounds in the coming days. With the trends now showing possibility of more upward traction one can consider to initiate a long opportunity in the coming weeks. As the bullish bias is steadily stepping in one should look at trading as well as investing into this counter.
With its combination of financial strength, sectoral positioning, and innovation-driven leadership, BAJAJCON offers the profile of a steady compounder, capable of delivering long-term value creation despite modest topline growth in recent years.
Two stock recommendations by MarketSmith India:
Buy: Taj GVK Hotels & Resorts Ltd (current price: ₹ 430)
- Why it’s recommended: Strong brand and strategic promoters, robust earnings growth, expansion pipeline
- Key metrics: P/E: 21.65, 52-week high: ₹528.10, volume: ₹ 75.50 crore
- Technical analysis: Reclaimed its 21-DMA and is trending above all its key moving averages with a positive bias
- Risk factors: Hospitality sector sensitivity, competition and market dynamics, and regulatory and external risks
- Buy: ₹ 430
- Target price: ₹ 490 in two to three months
- Stop loss: ₹ 403
Buy: Eveready Industries India Ltd (current price: ₹448)
- Why it’s recommended: Dominant market positions and strong brand legacy, market share gains in alkaline and rechargeable segments
- Key metrics: P/E: 35.31; 52-week high: ₹505; volume: ₹ 56.30 crore
- Technical analysis: Downward-sloping trendline breakout
- Risk factors: Raw material price volatility
- Buy at: ₹445–455
- Target price: ₹510 in two to three months
- Stop loss: ₹ 420
Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.
Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.
MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. Trade name: William O’Neil India Pvt. Ltd. (Sebi-registered Research Analyst Registration No.: INH000015543)
Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
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.
