3 Multibagger Stocks To Buy For The Long Term

Indices have now fallen near 5 per cent from peak levels that it hit in June 2019. As Foreign Portfolio Investors continue to press sales it would be a good time to look at some good quality stocks. Here are 3 stocks that you could grab for the long term. L&T Finance Holdings reported an increase of 2 per cent in consolidated net profit at Rs 549 crore for the quarter ended June 30, 2019. The companys net profit during April-June quarter of 2018-19 stood at Rs 538 crore.The results came despite a very tough quarter for most Non Banking Finance Companies. L&T Finance Holdings has said it maintains a positive asset liability gaps in all buckets up to one year and maintained liquidity of Rs 13,133 crore (including Rs 4,855 crore in form of cash FDs and other liquid instruments). The company remains fairly liquid and given the strong parentage, it might be able to raise resources rather easily. L&T Finance Holdings continues to remain cheap on the valuations front. The stock is trading under 10 times price to earnings multiple, which is rather cheap for a strong with a strong pedigree. At a price of Rs 110, it is also close to its 52-week low of Rs 106. A good stock to buy for the long term, which can be a multibagger.Advertisement Karnataka Bank is another stock that looks good from a long term perspective. The bank reported record net profits for the quarter ending June 30, 2019. The bank saw its non performing assets rise marginally for the June quarter, but, significant slippages from these levels is ruled out.The shares are currently trading on a cum-divided basis of Rs 3.5 per share. This takes the dividend yield itself close to 4 per cent. The shares are also trading at a price to book value of 0.49 times, which is very attractive for a private sector bank. Liquidity concerns and worries over NPAs has hit the banking sector hard. Stocks from the NBFC and banking sector have seen significant erosions. At the current market price of Rs 96, the stock of Karnataka Bank is extremely attractive at a p/e of 7 times one year forward earnings. Buy the shares for long term gains. A good multibagger stock for the long term. The stock of Coal India has seen a collapse in the last few days. At a level of Rs 221, the stock is not very far from its 52-week low of Rs 211. At the current market price, the stock can give a dividend yield of 6-7 per cent. Remember, dividends are tax free upto a sum of Rs 10 lakhs, There were reports that the ministry is looking into a proposal to split Coal India into various entities that would than be listed. Even if this were to happen it would benefit shareholders of Coal India, as they would get shares of these listed entities.Coal prices are expected to also remain firm in the next few months, which should boost the performance of Coal India. Buy the shares for a decent dividend yield. This article is strictly for informational purposes only. It is not a solicitation to buy, sell in securities or other financial instruments. Greynium Information Technologies Pvt Ltd, its subsidiaries, associates and the author of this article do not accept culpability for losses and/or damages arising based on information in this article.GoodReturns.in