This Jindal group stock has been hitting circuit after circuit and hence those who have holding in this company may hold the counter till it maintains the positive bias, experts believe
Multibagger stock: Amid BSE Small-cap index soaring to its lifetime high, a good number of Small-cap stocks have entered into the elite list of multibagger stocks. JITF Infralogistics is one such stock. It is a Jindal group share that has been skyrocketing for the last one month hitting upper circuit most of the times. Even today the Jindal group stock hit 5 per cent upper circuit and hit 110.10 apiece levels. The stock has shot up more than 21 per cent in the last 5 trade sessions hitting upper circuit on all five trade sessions. In fact, in the last one month, the stock has surged more than 150 per cent.
According to experts, the stock has been hitting circuit after circuit and hence those who have holding in this company may hold the counter till it maintains the positive bias but strictly advised fresh investors to avoid taking any fresh position in the counter.
Speaking on this Jindal group share price outlook; Sumeet Bagadia, Executive Director at Choice Broking said, "This stock has been hitting circuit after circuit. So, one should avoid taking any fresh position. Those who hold this Jindal group share are advised to hold the counter till it is maintaining positive trend. But, one should book profit in the counter immediately after the trend reversal."
Echoing with Sumeet Bagadia; Avinash Gorakshkar, Head of Research at Profitmart Securities said, "the company has reported it annual report to the Indian exchanges where it has report robust growth in revenue from operations. However, one should avoid taking any position in this Jindal group stock as the stock has already rallied a lot."
The Jindal group stock has been giving stellar returns throughout the year as the logistics company stock has delivered robust 1180 per cent return to its shareholders in the last six months while in the last one year, this Jindal group of companies stock has surged around 1400 per cent.
In its corporate announcement, the Jindal group company submitted its annual report early this month. In this annual report, the company has reported rise in operational revenue from ₹16.030 crore in FY 2019-20 to ₹25.879 crore in FY 2020-21 — logging around 61 per cent rise from FY20 to FY21. However, company's net income or PAT (profit after tax) went down from 1.773 crore in FY20 to ₹1.693 crore in FY21.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.