Home / Markets / Stock Markets /  Multibagger stock dips 10% in one month. Experts give buy tag with 25% upside
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Multibagger stock: Despite global economy reeling under the Covid-19 pressure, Indian stock market manged to give stellar return in 2021. A good number of shares entered the list of multibagger stocks as they doubled their shareholders' money in the market rebound post-Covid-19 selloff. BLS International Services Ltd shares are one of the multibagger stocks in 2021. However, the stock has been under profit booking pressure after scaling to its life-time high of 309 apiece levels in September 2021. In last one month, it has shed near 10 per cent. But, the multibagger stock has started moving upside and in last one week it has ascended around 8.50 per cent.

According to stock market experts, the multibagger stock is looking positive on chart pattern but sharp uptrend can be expected from around 200 to 210 levels. They advised positional investors to wait for some profit-booking at current levels and enter around 200 to 210 levels for one month target of 260 per equity share.

Speaking on this multibagger share price outlook; Sumeet Bagadia, Executive Director at Choice Broking said, "BLS International Services share price has been under selloff heat after ascending to its life-time high of 309 levels in September 2021. However, the stock has started to ascend at a time when the secondary market sentiment is negative. This rise in the multibagger stock indicates uptrend on chart pattern."

Suggesting positional investors to keep on accumulating on every reasonable dip; Anuj Gupta, Vice President at IIFL Securities said, "BLS International Services shares can be bought in 200 to 210 zone and one should keep on accumulating this multibagger stock till it is above 180 apiece levels. It has strong support at 170 levels and hence a strict stop loss at 198 is advised for those who take position in this counter. The stock may go up to 240 apiece levels in immediate short-term."

Advising positional investors to buy and hold the counter for short-term time horizon, Sumeet Bagadia of Choice Broking said, "The stock has minor hurdle at 240 apiece levels. Once the multibagger stock breaks this hurdle, it may go up to 260 per share levels in short-term. So, positional investors are advised to book profit around 260 levels as the stock is in uptrend and can give strong upside movements in coming sessions."

BLS International Services share: Important numbers you should know

BLS International Services shares have current market capital of 2,245 crore and its dividend yield is 0.56 per cent. Its 52-week high or life-time high is 6309 whereas its 52-week low is 83 per share on NSE. BLS International Services shares have current trade volume of 1,71,711, which is near 50 per cent of its 20 days average volume of 3,06,152.

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

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