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Business News/ Markets / Stock Markets/  Dolly Khanna stock rebounds after retracement from life-time high
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Dolly Khanna stock rebounds after retracement from life-time high

Dolly Khanna portfolio: This small-cap stock is one of the multibagger stocks in 2021 as it has surged from around ₹75 to ₹162 levels in last one year, yielding around 125 per cent in this period

Dolly Khanna portfolio: After hitting its life-time high of ₹273, this multibagger stock corrected sharply and slipped into retracement zone. (iStock)Premium
Dolly Khanna portfolio: After hitting its life-time high of 273, this multibagger stock corrected sharply and slipped into retracement zone. (iStock)

Dolly Khanna portfolio stock Simran Farms has been hitting upper circuit for the last four trade sessions. The poultry hatcheries company stock, which the Chennai-based investor added to her stock in Q3FY22, is showcasing strong rebound after retracement from its life-time high of 273 apiece that it made in January 2022. It is one of the multibagger stocks in 2021 as it has surged from around 75 to 162 levels in last one year, yielding around 125 per cent in this period.

According to stock market experts, this Dolly Khanna share is coming out of the retracement mode and has the potential to go up to 190 apiece levels in immediate short-term. However, they also advised that this is not a kind of stock that can be bought and hold for long. They said that retail investors should hold it for short term as a single bird flue news is enough to dent the business sentiment of such small-cap stock, which has low stock liquidity.

Speaking on the fundamentals related to Simran Farms shares; Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Simran Farms is a low liquid stock that deals in poultry hatchery business. So, it is more like a commodity stock that one should avoid holding long. A single news about bird flu is enough to dent the business outlook of such small companies. So, my advice for positional investors is to avoid taking long position and try to keep one's time horizon in the counter for immediate short term to short term."

Echoing with Avinash Gorakshkar's views; Anuj Gupta, Vice President at IIFL Securities said, "After hitting its life-time high of 273, this multibagger stock corrected sharply and slipped into retracement zone. But, in recent few sessions, it is trying to come out of this zone and we are expecting bounce-back in the stock after short-covering. Those who have this stock in their portfolio should hold the stock for immediate short term target of 185 to 190 levels whereas fresh entry is advisable only on dips as it has support zone at around 122 apiece levels."

Dolly Khanna share holding in Simran Farms

According to shareholding pattern of Simran Farms for October to December 2021 quarter, Dolly Khanna bought fresh 55,516 equity shares of the company, which is 1.46 per cent of the total issued paid-up capital of the company.

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

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
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Published: 11 Mar 2022, 10:11 AM IST
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