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Stocks to buy on 7 May: The Indian benchmark indices, the BSE Sensex and Nifty 50, surged more than 1% each on Wednesday, 6 May, amid reports suggesting that the US and Iran were nearing an agreement to end their ongoing conflict.
The Sensex rallied over 1,000 points during the session to touch an intraday high of 78,022.78, while the Nifty 50 climbed to a high of 24,356.50.
Despite paring some gains towards the close, the Sensex ended at 77,958.52, up 941 points or 1.22%, while the Nifty 50 settled at 24,330.95, gaining 298 points or 1.24%.
Raja Venkatraman, Co-founder of NeoTrader and associated with MarketSmith India, recommended five stocks for May 7th: Godrej Industries Ltd, Ajanta Pharma Ltd, L&T Finance Ltd, India Glycols Ltd, and Amber Enterprises India Ltd.
Godrej Industries Ltd is recommended due to its sharp thrust above the value area, steady support at TS & KS bands, and a promising long body candle indicating genuine buying interest after a period of decline.
The key risk factors for Ajanta Pharma Ltd include heavy dependence on the US market, regulatory compliance, and pricing pressures.
On May 6th, the Indian benchmark indices, Sensex and Nifty 50, surged over 1% each. This rally was driven by reports suggesting a potential US-Iran agreement to end their conflict and a significant drop in crude oil prices, boosting investor sentiment.
The Gift Nifty live chart indicated a muted start for the Indian stock market on May 7th, trading around the 24,454.5 level, a slight premium from the previous close.
The rally was broad-based, with buying interest extending beyond frontline stocks. The BSE Midcap index advanced 1.67%, while the BSE Smallcap index gained 1.77%, reflecting strong participation across broader markets.
The sharp rally also boosted investor wealth significantly, with the total market capitalisation of BSE-listed companies rising by nearly ₹6 lakh crore to ₹473 lakh crore, compared to just under ₹467 lakh crore in the previous session.
The Gift Nifty Live Chart is showing a muted start for the Indian stock market today. By 7:42 AM, the Gift Nifty was trading around the 24,454.5 level, a premium of 7.1 points from the Nifty futures’ previous close of 24,447.40.
Decoding the impact of Gift Nifty live chart and other triggers on Dalal Street, Ponmudi R, CEO of Enrich Money, a SEBI-registered online trading and wealth-tech firm, said that the Indian equity markets are set to open with a sharp gap-up, buoyed by easing crude oil prices, improving global sentiment and continued domestic buying support.
Crude has retreated meaningfully from recent highs above $110 and is now consolidating in the $95–97 range, offering relief on inflationary pressures and easing concerns around the broader macroeconomic outlook.
Global sentiment has strengthened amid growing expectations of a potential de-escalation in Middle East tensions. Indications from Donald Trump that the US has paused its more assertive stance around the Strait of Hormuz, alongside expectations of Iran’s response to a US proposal aimed at resolving the conflict, have supported a recovery in risk appetite. This has translated into a relief rally across global equities, with Indian markets also benefiting from the improved tone.
Regarding stocks to buy today — Raja Venkatraman is Co-founder of NeoTrader, and stock research platform MarketSmith India, recommended buying these five shares - Godrej Industries Ltd, Ajanta Pharma Ltd, L&T Finance Ltd, India Glycols Ltd, and Amber Enterprises India Ltd.
Why it’s recommended: Godrej Industries Ltd is a diversified holding company under the Godrej Industries Group, founded in 1897 and headquartered in Mumbai. It operates in oleochemicals, while holding major stakes in subsidiaries. After spending nearly 7 months in a declining phase, the stock lost all its sheen. In the recent revival a sharp thrust above the value area the all through the year 2026 and in last few days in April 2026 the prices revived. The steady support at the TS & KS bands and the reversal gathered steam on Wednesday, post the results. A promising long body candle to end the previous trading session, despite some market sell-off, indicates some genuine buying interest. Go long.
Technical analysis: Support at ₹325 | Resistance at ₹440.
Risk factors: High debt levels, interest coverage concerns.
Why it’s recommended: Ajanta Pharma is a Mumbai-based speciality pharmaceutical company, founded in 1973, that specialises in developing and manufacturing branded generics and generic medicines. After the recent reaction, we can note that the steady rounding pattern in the value area support around 2760-2800 is continuing to lend support to the breakout, which is now leading to the TS & KS bands heading higher. The strong thrust has led to a strong breakout above the cloud region, forming a nice rounding pattern revival. A strong long body candle augurs well for some upside if the market retains some positive momentum. A rise in the RSI above the 60 level indicates we can look to initiate a long opportunity here, targeting higher levels. Go long now.
Technical analysis: Support at ₹2,950 | Resistance at ₹3,400.
Risk factors: Heavy dependence on the US market, regulatory compliance, and pricing pressures.
Why it’s recommended: L&T Finance Ltd is a leading, top-rated Non-Banking Financial Company (NBFC) in India, focused on providing a wide range of financial products and services. The steady rise since April 2026, a reaction that found support in the cloud region, has driven volumes higher, combined with the rising RSI, indicating no let-up in momentum. A break above 980 was a key event that is now initiating us to go long.
Technical analysis: Support at ₹278 | Resistance at ₹340.
Risk factors: Risks primarily tied to its retail-heavy, rural-focused lending portfolio, high debt, and reliance on parent support.
Why it’s recommended: The company has a diversified business across chemicals, spirits, and nutraceuticals, along with a strong presence in bio-based green chemicals and is expected to benefit from ethanol-blending growth in India. The company also has integrated manufacturing operations, export opportunities in specialty chemicals, improving demand from pharma and FMCG sectors, expansion into high-margin specialty products, a long operating history with an established customer base, government support for renewable and green products, and potential margin improvement from a premium product mix
Key metrics: P/E: 30.68, 52-week high: ₹1,222.00, volume: ₹52.98 crore
Risk factors: Key risks include high dependence on molasses and raw material prices, the cyclical nature of the chemical business, margin pressure from volatile input costs, regulatory risks in the alcohol and chemical segments, concerns related to debt levels and interest cost, environmental compliance risks, competition from domestic and global players, earnings volatility due to commodity price swings, dependence on government ethanol policies, and arising from its export business
Target price: ₹1,270 in two to three months
Why it’s recommended: The company is a leading OEM player in room air conditioners and a strong beneficiary of the Make in India theme, with an expanding electronics manufacturing business, and benefits from PLI schemes for white goods and electronics. The company is witnessing strong growth in its EMS segment, has a diversified customer base with major brands, and is supported by rising AC penetration in India. Strategic acquisitions are boosting their capabilities, while strong revenue growth visibility, increasing focus on high-margin electronics products, capacity expansion across segments, and long-term growth opportunities in consumer durables further strengthen its outlook.
Key metrics: P/E:140.11, 52-week high: ₹8,730.00, volume: ₹521.23 crore
Technical analysis: Cup-with-handle base breakout
Risk factors: Risks include high dependence on seasonal AC demand, thin operating margins in the OEM business, customer concentration risk, high competition in EMS and RAC segments, raw material price volatility, elevated valuation compared to peers, high working capital requirements, debt and capex pressure, execution risks in new businesses and acquisitions, demand slowdown impacting earnings sharply, dependence on government incentives and PLI schemes, and profitability volatility despite revenue growth.
Target price: ₹11,000 in two to three months
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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 her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.
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