Stock to Purchase: Over the past two months, Jindal Worldwide, a multibagger mid-cap stock, has increased by 48%. This stock is still Anand Rathi's choice of the month, and he anticipates 10% further growth.
Stock to Purchase: Over the past two months, Jindal Worldwide, a multibagger mid-cap stock, has increased by 48%. This stock is still Anand Rathi's choice of the month, and he anticipates 10% further growth.Performance of stocks
Jindal Worldwide saw a significant correction from March to November, but in the following two months, it has increased by 48%. With a 600% increase in value over the last five years, investors have received multibagger returns from Jindal Worldwide's share price, which recently reached highs of ₹471.
Target price and anticipated upside
Anand Rathi Investments Services continues to favor Jindal Worldwide. Anand Rathi has advised purchasing the stock at about ₹437 because he believes it will reach its target price of ₹485. According to Anand Rathi, it will take one month to reach this target price. Thus, the Anand Rathi Target price corresponds to a more than 10% increase in the price of Jindal Worldwide's stock.
According to analysts Anand Rathi, Jindal Worldwide has just emerged from a consolidation pattern, lining up with the upper line of the Bollinger Band and bolstered by a bullish crossover in the weekly MACD (Moving Average Convergence Divergence), indicating significant upward momentum.
According to Anand Rathi, this technical configuration suggests that the upward trend may continue. As a result, according to Anand Rathi analysts, a long position is suggested in the ₹430–438 price band, with an upside objective of ₹485.
Anand Rathi analysts have also recommended a stop-loss at ₹409 on a daily closing basis to manage risk.
Details of the bonus issue
At its meeting on Tuesday, January 7, 2025, the Board of JIndal Worldwide also approved the issuance of bonus equity shares in the ratio of 4:1, meaning that for every one existing fully paid-up equity share of ₹ 1/- (Rupees One) held, four new fully paid-up equity shares of ₹ 1/- (Rupees One) each will be issued.by capitalization of free reserves to the Company's eligible equity shareholders as of the record date.
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