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Dolly Khanna portfolio stock climbs lifetime high. Experts see more upside

Dolly Khanna portfolio: Outlook for Ajanta Soya share price is positive but it's a commodity stock, which has cyclical business. Hence, one should keep it for short to medium term only and book profit after this time horizon, say stock market experts. (MINT)Premium
Dolly Khanna portfolio: Outlook for Ajanta Soya share price is positive but it's a commodity stock, which has cyclical business. Hence, one should keep it for short to medium term only and book profit after this time horizon, say stock market experts. (MINT)

  • Dolly Khanna share has hit upper circuit on 3 out of the last 4 sessions and stock market experts are still bullish on the commodity stock

Dolly Khanna portfolio stock Ajanta Soya share price has climbed to its lifetime high of 292.85, hitting 5 per cent upper circuit in the intraday session. The Dolly Khanna share has hit upper circuit on 3 out of the last 4 sessions and stock market experts are still bullish on the commodity stock. They said that soya oil prices in the international markets have gone high and Government of India (GoI) has recently announced to slash export duty on soya oil that will benefit Ajanta Soya company's balance sheet.

According to stock market experts, this Dolly Khanna share price has given fresh breakout at 265 levels and it is expected to go up to 350 levels in near term. They said that demand for soya oil has gone up in China and it has announced to import soya oil from other than US. In that case GoI's announcement to reduce export duty will benefit Ajanata Soya in upcoming quarters. However, they maintained that the new Dolly Khanna portfolio share is a commodity stock and it has a cyclical business and hence one should not hold it for long. They advised investors to hold the counter for short to medium term only.

Speaking on this new Dolly Khanna portfolio stock outlook; Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Soya prices in the international markets have gone up that had increased company's realisation. In fact, GoI has recently reduced export duty on soya oil that will benefit Ajanta Soya in its export to China as China will be importing soya oil from India after sudden rise in demand in its domestic market. So, outlook for Ajanta Soya share price is positive but it's a commodity stock, which has cyclical business. Hence, one should keep it for short to medium term only and book profit after this time horizon."

Suggesting positional investors to add this Dolly Khanna share in one's portfolio; Sumeet Bagadia, Executive Director at Choice Broking said, "Ajanta soya shares have given fresh breakout at 265 and it is looking highly bullish on chart pattern. One can initiate momentum buy in the counter at current market price for near term target of 325 top 350 maintaining stop loss at 260 apiece levels."

Dolly Khanna shareholding in Ajanta Soya

According to Ajanta Soya shareholding pattern for recently ended December 2021 quarter, Dolly Khanna holds 1,78,500 Ajanta Soya shares, which is 1.11 per cent of the total issued paid-up capital of the company. Interestingly, Dolly Khanna had added this commodity stock in her portfolio in November 2021 buying 1.4 lakh company shares paying 147.72 apiece. So, the Chennai-based investor raised her shareholding in the company in rest of the period left in Q3FY22.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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Asit Manohar

Chief Content Producer at Live Mint Digital Team
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