Shipping Corporation good short term pick: Aashish tater

Aashish Tater of FortuneWizard.com told CNBC-TV18, "Shipping Corporation of India (SCI) could be a very good short-term trading pick rather than a multibagger idea. If you see in February-March, Baltic dry index made a three decade low and from there it has risen almost 45 percent. In fact, today also the Baltic dry index after the Iran settlement, is up by 1.67 percent. So, what we feel is that a stock that has got a limited downside and potential upside because of the changing business environment."

He further added, "We feel that this stock will go and stabilise somewhere around Rs 70-81. So, that is our target from short-term perspective itself because if you see all the negatives that were there, it has now evened out and now, crude is also not moving above Rs 60. So, that will be a very good positive for something like Shipping Corporation of India."

"The 'Made in India' concept, if that works well, then SCI will definitely be a major beneficiary. So, considering all this we feel that next 3-6 months could be very good for this particular stock and sector where we feel 30-40 percent quick money can be made in this particular stock and sector," he said.