StoveKraft It was listed in the Indian market in February. Technical experts say that after gaining more than 100 percent from its issue price of Rs 385, now this stock can see a new rise in the next 6 months.
The market cap of StoveKraft is around Rs 2,600 crore. On 3 August 2021, it touched a 52 week high of Rs 848. After touching the record, it saw some profit recovery, but on August 11, it got support near Rs 733, after which there was a bounce back in this stock.
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On August 23, this stock once again touched its support level and after that it jumped up to Rs 800. Ashish Chaturmohta of Sanctum Wealth Management says that the stock can touch the level of Rs 950 in the next 3-6 months, which is an upside of 20 percent from its closing of Rs 786 on August 25.
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Ashish Chaturmohta says that this stock looks ready for the next rally after forming a base. Buying can also be done in this stock at the current level. If it is found in a dip for around Rs 790, then it will be better. Make sure to put a stop loss of Rs 760 for this purchase. This stock can easily touch the level of Rs 950 in 3-6 months.
Let us tell you that Stovekraft is a leading kitchen appliances manufacturer in the country. It sells kitchen appliances under the brands Pigeon and Gilma. The company manufactures cookers, rice cookers, cooktops. The company has a strong presence in India’s Rs 200 billion kitchen appliances market.
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