Stock to Buy with Anil Singhvi – know why Rain Industries is recommended by Market Guru and analyst Simi Bhaumik
Stocks to Buy with Anil Singhvi – Rain Industries – Zee Business Managing Editor Anil Singhvi today recommended a stock from the cash market which he said will bring bumper returns for the investors. This stock is Rain Industries – a company which produces calcined petroleum coke, coal tar pitch and other high-quality basic and specialty chemicals
Stocks to Buy with Anil Singhvi – Rain Industries – Zee Business Managing Editor Anil Singhvi today recommended a stock from the cash market which he said will bring bumper returns for the investors. This stock is Rain Industries – a company which produces calcined petroleum coke, coal tar pitch and other high-quality basic and specialty chemicals.
This stock was trading around Rs 186 at the time of recommendation. Singhvi said that the stock is now ready to show a significant upward move.
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One of the reasons why this stock is expected to do well is the prices of calcined petroleum coke which have appreciated by almost 50 per cent over the last 4 months. The commodities prices have been on the rise and any stock which is related to metal sector is expected to do well, the Market Guru said.
The company has been doing very well. This stock is currently trading at a PE Multiple of 7-8, he said.
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The short term target is Rs 200. The positional term targets is in between Rs 215-225. The investment target is Rs 240, he said.
The stock should be purchased on dips, the Managing Editor said. The traders should trail the stop loss. He puts the stop loss at Rs 180.
Technical Analyst Simi Bhaumik has previously recommended this stock on one of the shows. She said that this stock is also part of her portfolio. She puts the target price between Rs 200 and Rs 210. The maximum target on this stock is Rs 240, she added. This stock has seen a breakout around Rs 176 and therefore there will be a stop loss below this level, she further said. She puts the stop loss below Rs 175.
This stock can also be bought on dips.
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