Stock to buy, May 9 -- Anand Rathi has announced its stock pick of the month. The brokerage firm has recommended SKF India shares to buy as it expects the stock to deliver a decent upside in the near term.

Anand Rathi recommends buying SKF India shares at current market price for a target price of Rs.4,300 level, while maintaining a stop loss at Rs.3,850 level.

SKF India shares have been consolidating and trading in a range since the past three months. The stock has gained 3% in one month, and is down 2% in three months.

"After a long consolidation, SKF India share price has given a strong breakout on the daily chart. Daily RSI has crossed the 60 mark for the first time in nearly a year, indicating rising momentum. ADX (14) daily is sh...