Stocks to buy or sell: Dharmesh Shah of ICICI Sec suggests buying Piramal Pharma on 20 July

Indian benchmark indices opened lower on Monday, 20 July, as weakness in HDFC Bank offset gains in select heavyweight stocks, while rising crude oil prices amid escalating tensions in the Middle East kept investors on edge.

The BSE Sensex declined 0.72% to 77,587.23, while the Nifty 50 slipped 0.60% to 24,185.80 in early trade.

HDFC Bank dropped nearly 5% after reporting its June-quarter results, as investors reacted to a sharper-than-expected sequential decline in net interest margins despite a 5% year-on-year increase in quarterly profit.

The weakness in the country's largest private lender overshadowed gains in Reliance Industries and ICICI Bank, both of which advanced around 1% after announcing their quarterly earnings.

Market breadth remained subdued, with seven of the 16 sectoral indices trading in the red. The broader market also came under pressure, with the Nifty Midcap and Smallcap indices declining around 0.3% each.

Investor sentiment was further weighed down by surging oil prices after the United States carried out a ninth consecutive day of strikes on Iran, pushing Brent crude above $90 a barrel and raising concerns over inflation and India's import bill.

Equity benchmark extended breather as lingering geopolitical tension weighed on global sentiment. Nifty 50 navigated range bound week and settled on a positive note at 24334, up 0.5%. After hitting All-Time High Midcap index seen minor profit booking, down 1%. Meanwhile, beaten down IT, Consumer discretionary stocks extended gains along with private banks while metal, realty underperformed.

Dharmesh Shah of ICICI Securities recommends buying Piramal Pharma Ltd.

Buy Piramal Pharma in the range of ₹174-179. He has Piramal Pharma share price target of ₹190 with a stop loss of ₹169.

Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 17/07/2026 or have no other financial interest and do not have any material conflict of interest.

The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.

Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through...