Buy This Low Priced Multibagger Realty Stock For 133% Potential Upside In The Long Term

Rationale for a ‘Buy’ on Anant Raj as decoded by experts

Realty index has given a 10 year break-out and with strong fundamentals the shares in the sector are expected to give sharp gains.

FII/FPI attracted to the scrip with FII holding in the September ended quarter at 8.28%.

Decent quarterly earnings for the last three quarter despite the covid led disruption. For the last quarter ended September of Fy22, the company posted net profit of Rs. 11.02 crore as against Rs. 8.61 crore in the preceding quarter, while this is an overwhelming increase YoY from just Rs. 2.86 crore during September quarter of Fy 22.

Price target of Rs. 155 on Anant Raj; Potential Upside of 133% In Long term

The scrip is said to face resistance at Rs. 80 but as and when it crosses this level it shall easily and swiftly hit three digit price of Rs. 100 and rally further up to Rs. 155 in the long term.

Experts’ and brokerages take on the scrip

Choice Broking’s Sumeet Bagadia studying the stock price chart of Anant Raj said “This multibagger stock in Rakesh Jhunjhunwala portfolio is consolidating around ₹65 to ₹67 and it is facing strong hurdle at ₹80. Once it gives breakout above ₹80 on closing basis, it may soon hit ₹100 levels. Short term investors can buy Anand Raj shares at current levels and book profit around ₹80. However, they must maintain strict stop loss at ₹60 per share levels.”

Likewise underscoring the fundamentals of the scrip, Proficient Equities’ Dalmia said, “Anant Raj has reported strong quarterly numbers for the last three quarters despite second wave of Copvid-19. It has reported growth in total revenue and net profit in last three quarters that attracted ace investors like Rakesh Jhunjhunwala, FIIs and FPIs. In fact FIIs and FPIs have raised their stake in the company that reflects strong conviction of the market magnets in regard to Anant Raj shares.”

Advising investors to hold the multibagger stock for long term he added, “Aggressive buyers are advised to buy this multibagger stock at current levels maintaining stop loss at ₹60 levels. They can hold the counter for long term target of ₹155.”

Noting the technicals of the scrip; Santosh Meena, Head of Research, Swastika Investmart Ltd said, “Anant Raj share is in strong bullish momentum where it is holding its 200-DMA beautifully and moving in an up-sloping channel. It is bouncing back from the lower end of the channel and it may head towards the higher end which may coincide with the ₹88 level, therefore, we can expect the target of 88 in the near term while over the next year it has the potential to move in triple-digit.”

Disclaimer:

The stock is recommended by experts and brokerages given the fundamentals and other observations. However investors and readers must not construe the story to be an investment advice and must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.

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