Buy Bajaj Hindustan
Stock market analyst Ashwani Gujral has suggested investors to purchase ‘Bajaj Hindustan’ stock to achieve short term target between Rs 307-350.
The stock has performed brilliantly on Monday (18 Feb), and marked its closure at Rs 265. Today, the stock opened at Rs 268 on BSE.
On Bombay Stock Exchange, the stock has touched 52-week high of Rs 399.5 and the low of Rs 115.55. Interested investors can purchase the stock around on declines with a stop loss of Rs 220.
With an EPS of Rs 4.10, the stock is trading with a P/E of 66.53 at 12:16 pm (today).
Mr. Gujral said that the stock will surely achieve the target within the 5-6 weeks. So, the investors are advised not to sell this stock before achieving this price.
Bajaj Hindusthan of the Bajaj Group is India’s biggest sugar and ethanol manufacturing company. The company produces sugar and industrial alcohol at its plants at Gola (capacity 9,000 TCD) and Palia (5,000 TCD) in the cane-rich area of western Uttar Pradesh.
In the year 1988, the Hindusthan Sugar Mills was renamed as Bajaj Hindusthan and shortly thereafter in 1990, Sharda Sugar & Industries, its subsidiary, was amalgamated with Bajaj Hindusthan. Subsequently, the company acquired Pratappur Sugar and Industries in UP giving itself a strategic foothold in the sugar-deficient region of eastern UP.
The stocks of other companies from the same sector, which are looking good for short and medium-term trading, include Balrampur Chini, Triveni Engg and Shree Renuka.