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Business News/ Markets / Stock Markets/  IFCI share price: Multibagger PSU stock hits 5% upper circuit, rises 1100% in four years. Buy or sell?
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IFCI share price: Multibagger PSU stock hits 5% upper circuit, rises 1100% in four years. Buy or sell?

Multibagger stock: IFCI share price has risen from ₹3.50 to ₹40.70 apiece in post-COVID rebound

Buy or sell stock: IFCI share price may go up to ₹50 apiece once it gives a breakout above ₹45 per share level on a closing basis, believe Sumeet Bagadia of Choice Broking. (Photo: iStock)Premium
Buy or sell stock: IFCI share price may go up to 50 apiece once it gives a breakout above 45 per share level on a closing basis, believe Sumeet Bagadia of Choice Broking. (Photo: iStock)

Stock market today: IFCI share price has been in an uptrend for a long. The PSU stock is one of the multibagger stocks that the Indian stock market delivered in the post-COVID rally. In the last four years, this multibagger stock has risen from 3.50 to 40.70 apiece on the NSE. IFCI shares are still showcasing some upside steam. The PSU stock today opened upside and went on to touch an intraday high of 40.70 per share on NSE, logging a 5 percent intraday rise within a few minutes of the opening bell. While climbing to this intraday high, IFCI share price today touched a 5 percent upper circuit as well.

IFCI share price history

In the last one month, the PSU stock has remained in base building mode as the entire PSU segment was under the sell-off heat. However, in the YTD time, the multibagger stock has delivered over 40 percent to its shareholders. In the last six months, IFCI share price has ascended from nearly 24 to 40.70 apiece level, logging around 70 percent rise in this time. In the last one year, this multibagger PSU stock has appreciated from around 9 to 40.70 apiece, logging to the tune of a 350 percent rally in this period. So, the PSU has completed its journey from being a penny stock to a multibagger penny stock in the last one year. As mentioned above, the PSU stock has registered a robust rally in the post-COVID rebound. In the post-COVID rebound, IFCI share price has risen from around 3.50 to 40.60 per share level, clocking to the tune of an 1100 percent rise rally in the last four years.

IFCI share price target

Expecting more upside in IFCI share price, Sumeet Bagadia, Executive Director at Choice Broking said, “IFCI shares have made a strong base at 37 apiece level and the stock is looking positive on chart pattern. IFCI shareholders are advised to hold the PSU stock for more upside maintaining stop loss at 37 apiece level. They may go up to 50 apiece level in the short term once it breaches its current hurdle placed at 45 per share mark."

On the suggestion to fresh investors, Sumeet Bagadia said, "Fresh investors can buy IFCI shares at the current level maintaining strict stop loss at 37. They are advised to maintain the buy-on-dips strategy on every big dip till the stock is above the 37 per share level. They can also buy and hold the scrip for short-term targets of 45 and 50."

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 27 Mar 2024, 04:01 PM IST
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