BackLinde India shares rally 40% in 5 days. Should you buy?
Linde India share price was up over 6% at ₹2,710 per share on the BSE in Thursday's early deals
PremiumIndustrial gas maker Linde India shares have surged sharply in the past few trading sessions. The stock has rallied over 40% in just the past five sessions and continued to surge in Thursday's deals as well, jumping to a new all-time high level. Shares of Linde India were trading over 6% higher to ₹2,710 per share on the BSE.
The gas maker's stock has given multibagger returns this year as it has rallied more than 170% in 2021 so far (year-to-date) alone. Linde India shares have given returns of over 250% in the past one year. The stock had gained momentum in the initial months of the year amid medical oxygen shortage in the country due to the deadly second covid wave.
From trading around ₹980 in early January, the shares of Linde India have currently skyrocketed to ₹2,700 apiece mark. Analysts are still bullish and see further upside in the gas maker's stock in the long-run.
“Linde India stock has given breakout above the 2,070 zone and after that we have been witnessed a strong northward move. For now, existing long can be hold with keeping trail stop loss at 2,050, also any dip near 2,200 will be again buying opportunities with same stop loss. Targets can be 3,000 in long run," said Rohit Singre, a Senior Technical Analyst at LKP Securities.
A subsidiary of The BOC Group Ltd, UK (wholly-owned subsidiary of Linde AG and part of the Linde Group), Linde India is among the largest players in the domestic gases business. It supplies medical oxygen to hospitals and industrial gases to corporations, engaged in manufacturing of industrial and medical gases and construction of cryogenic and non-cryogenic air separation plants. Linde group is also engaged in supplying industrial, process and specialty gases, with operations across 100 countries.
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