Dolly Khanna portfolio: Multibagger stock rebounds after selloff. Do you own?
Premium- Overall trend for this Dolly Khanna portfolio stock is positive even though it is close to its life-time high, believe stock market experts
Dolly Khanna portfolio: After losing near 10 per cent in recent profit-booking, multibagger commodity stock Ajanta Soya bounced back strongly on Wednesday and hit 5 per cent upper circuit. According to stock market experts, the commodity company has reported strong Q2FY22 numbers and this score is expected to remain strong in third quarter as well. They said that stock is bullish and can go up to ₹300 levels in short term.
Speaking on the reason for rebound in Ajanta Soya share price; Anuj Gupta, Vice President at IIFL Securities said, "Overall trend for this Dolly Khanna portfolio stock is positive even though it is close to its life-time high of ₹322.80 on NSE. Low supply and rise in demand for edible oil is one of the major reasons for stellar return given by the stock in last one year. As one of the day trading stocks, one can buy this stock at current levels for near term target of ₹310 maintaining stop loss at ₹253 apiece levels."
Advising buy on dips strategy to positional investors; Sumeet Bagadia, Head of Research at Choice Broking said, "Ajanta Soya shares have strong support zone at ₹225 to ₹250 levels. The stock looks bullish on chart pattern and one can buy this stock at current levels and keep on accumulating till it is above ₹255 maintaining stop loss below ₹225 for short term target of ₹300. On breach of this ₹300 hurdle, it may soon go up to ₹315 to ₹320 apiece levels."
On why Ajanta Soya share price is expected to go upside; Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Ajanta Soya is a commodity stock and one should not hold the counter for long. It should be in one's portfolio for short to mid-term time horizon only. Recently, Chinese government has announced to import soya from other than US and Ajanta Soya can be a major beneficiary of this recent Chinese government's decision. So, in short to medium term, this Dolly Khanna portfolio company is expected to give strong quarterly numbers that may continue to fuel it price on Indian bourses."
Ajanta Soya is one of the multibagger stocks in 2021. In last one year, it has surged from ₹66.55 to ₹266 per share levels, clocking around 320 per cent rise in this period.
Dolly Khanna shareholding in Ajanta Soya
As per shareholding pattern of Ajanta Soya for Q3FY22, Dolly Khanna holds 1,78,500 shares or 1.11 per cent stake in the company.
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Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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