BackMultibagger stocks for 2022: Ravi Singhal of GCL Securities recommends two stocks to buy
Multibagger stocks for 2022: Ravi Singhal, Vice Chairman at GCL Securities has listed out two stocks that may double shareholders money this year
PremiumMultibagger stocks for 2022: Despite global economy reeling under the Covid-19 heat, Indian stock market managed to give stellar return in 2021. Now, after ushering into New Year 2022, stock market investors are guessing whether they will continue to get multibagger return or not. For such investors, Ravi Singhal, Vice Chairman at GCL has listed out two stocks that may give more than 100 per cent return to its shareholders this year. Those two multibagger stocks for 2022 are Man Infraconstruction and Allsec Technologies. The GCL Securities expert is of the opinion that above-mentioned stocks can be among the list of multibagger stocks in 2022.
1] Man Infraconstruction: This construction engineering company stock has given fresh breakout at ₹102 on closing basis and is expected to give sharp upside moves throughout the year. Ravi Singhal expects that Man Infraconstruction stocks may go up to ₹220 per share levels in 2020.
Speaking on the reason for putting Man Infraconstruction share in the list of multibagger stocks for 2020, Ravi Singhal of GCL Securities said, "After trading sideways for long, the stock has finally given fresh breakout at ₹102 levels on closing basis. Apart from this, Nifty realty index has given fresh 10-year breakout that also augurs well for the mid-cap realty and infra stock in 2022. To push this stock further, government spending in infrastructure sector is expected to continue and this is also a good sign for this low-priced stock. I am expecting this stock to hit ₹135 to ₹140 in short term whereas it may go up to ₹175 to ₹190 in medium term. In long-term or say by the end of 2022, the stock may go up to ₹210 to ₹220 per share levels." He advised investors to buy this stock at current market price maintaining stop loss at ₹77 per share levels.
2] Allsec Technologies: Shares of the mid-cap IT company is expected to remain insulated from global inflation, which is one of the major concerns for central banks across world. The IT companies are expected to give better number both during and post-Covid crisis and in that case stock market investors are expected to look at quality mid-cap IT stocks like Allsec Technologies shares.
Speaking on multibaggger stocks for 2022, Ravi Singhal of GCL Securities said, "World is currently facing two major challenges — Covid-19 and global inflation. IT companies are expected to outperform other segment even when these concerns last a little longer. In fact, IT companies will be least affected by global inflation. When it comes to Covid-19 crisis, IT companies are expected to do well during pandemic and post-pandemic as corporate spending on IT is expected to shoot up in next 3-4 years. Being a quality mid-cap IT stock, stock market investors are expected to execute bulk buying in Allsec Technologies shares. The stock may hit four-digit number in next 8-9 months and by the end of 2022, it may go up to ₹1350 per share levels." He advised stock market investors to buy this counter around ₹650 maintaining stop loss at ₹599 per share levels.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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