Multibagger Dolly Khanna share hits lower circuit on 7th straight session
Premium- Dolly Khanna portfolio: Multibagger stock is in bear trend and one should avoid taking any fresh position in the counter, believe stock market experts
Dolly Khanna portfolio: Commodity stock Ajanta Soya has hit 5 per cent lower circuit for 7th straight session today. One of the multibagger stocks in 2021, this Dolly Khanna share opened lower and hit lower circuit at ₹197.65 apiece levels. According to stock market experts, the stock is in bear trend and one should avoid taking any fresh position in the counter. They advised Ajanta Soya shareholders to exit on bounce as it may go up to ₹150 levels after beaching its immediate support of ₹180 per share levels.
Expecting further downside momentum in this multibagger stock; Sumeet Bagadia, Executive Director at Choice Broking said, "The Dolly Khanna portfolio stock has come below ₹200 and it has immediate support at ₹180 levels. As the stock has been hitting lower circuits regularly, one should avoid taking any fresh position in the counter as the stock is now in bear trend and it may further go up top ₹150 if it breaks ₹180 support levels. Those, who have this stock in their portfolio, are advised to exit on rise."
Highlighting the fundamentals of the counter; Avinash Gorakshkar, Head of Research at Profitmart Securities said, "This is a commodity stock and I have been repeatedly telling that one should not hold this stock for long. As it depends upon various factors like crop yield, rain fall, etc. one should buy and hold such stock for short to medium term only. As the stock had rallied enough in last few months, profit-booking was widely awaited and hence those who still hold this counter are advised to book profit on near term bounce."
Ajanta Soya share price history
After making closing high of ₹307.45 on NSE in last 6 months, Ajanta Soya share price has been under selloff heat. It has shed more than 30 per cent in last one month whereas it has delivered near 70 per cent in last 6 months. However, it is one of the multibagger stocks in 2021 as it has delivered more than 175 per cent return to its shareholders in last one year.
Dolly Khanna shareholding in Ajanta Soya
As per shareholding pattern of Ajanta Soya for December 2021 quarter, Dolly Khanna holds 1,78,500 shares, which is 1.11 per cent of the total issued paid-up capital of the company. Chennai-based investor had added this commodity stock in her portfolio in November 2021 buying 1.40 lakh company shares paying ₹147.72 apiece. This means Dolly Khanna raised her shareholding in the company in rest of the period in Q3FY22.
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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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