This Dolly Khanna portfolio stock has a 'Buy' from HDFC Securities1 min read . Updated: 31 Aug 2021, 08:39 AM IST
- This Dolly Khanna portfolio stock has surged over 50% this year (year-to-date) and is up over 95% in one year
Domestic brokerage and research firm HDFC Securities has a Buy recommendation on Rain Industries as its MTF stock pick and sees potential upside on the stock with a time horizon of up to 3 months. Rain Industries Limited (RAIN) is a leading producers of calcined petroleum coke, coal tar pitch and other high-quality basic and specialty chemicals. The company operates in three key business verticals: carbon, chemicals and cement.
The brokerage said that the Rain Industries stock which has plunged for the past few sessions after a rise and consolidated and in previous (Monday) session it has given a breakout with higher volumes. The stock has also breached above downward sloping trend line. HDFC Securities observes a formation of bullish pattern on daily and weekly time frame.
Momentum oscillators like RSI and MACD are giving bullish indication suggesting bullish movement for the stock for few more weeks, it added. It has a target price of ₹235, 270 with add on dips recommendation at ₹200 and stop loss at ₹193 with a time horizon of up to three months. The overall chart pattern of Rain indicates long trading opportunity. One may look to create positional long as per the levels mentioned above, HDFC Securities said in a note.
As of quarter ending June 2021, Dolly Khanna has 1.17% stake in Rain Industries. The chennai based investor is known for lesser-known picks that tend to go on to overperform in the stock market. Dolly Khanna has been investing in the stock markets since 1996 and her portfolio is said to managed by her husband Rajiv Khanna. Dolly Khanna's portfolio typically leans towards more traditional stocks in manufacturing, textile, chemicals and sugar stocks. Dolly Khanna publicly holds 15 stocks with a net worth of over ₹332 crore, as per Trendlyne.
The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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