Defence PSU Stock to BUY: This multibagger scrip corrects 49% from 52-week high - Is this right time to buy?

Defence PSU Stock to BUY: Mehul Kothari of Anand Rathi Securities has picked a defence PSU stock for investors who are looking for scrips for the long term. 

Defence PSU Stock to BUY: According to Kothari, this multibagger stock is highly oversold and a good bounce is expected. He said that investors should buy this stock with a perspective of 9-12 months.

Defence PSU Stock to BUY: The stock picked by Mehul Kothari is Cochin Shipyard. The counter had ended the session at Rs 1,431 in the last trading session. 

Defence PSU Stock to BUY: The analyst said that investors could buy this stock for a target of Rs 1,800. He said that investors can buy the stock in the range of Rs 1,400.

Defence PSU Stock to BUY: He also advised investors to keep a stop loss of Rs 1,200 on this stock.

 

Defence PSU Stock to BUY: The counter has given a multibagger return of around 167 per cent in one year. On a YTD basis, it has gained 120 per cent.

Defence PSU Stock to BUY: The 52-week high and low of the counter is Rs 2,977.10 and Rs 560 respectively.

 

Defence PSU Stock to BUY: From its 52-week high, the stock has corrected 49 per cent.

Defence PSU Stock to BUY: The market cap of the Cochin Shipyard is Rs 39,543 crore.

Defence PSU Stock to BUY: The above article is meant just for information and does not recommend any investment. Consult your financial advisors before making any money-related decisions.