This stock has doubled the wealth of investors in 1 year, can set a new 52 week high in 2-3 months

Known as the first Bharat Earth Mover BEML In one year, the price of Nifty has seen a rise of more than 100 percent, while the Nifty has seen a rally of 55 percent in the same period. This year also this stock has outperformed Nifty.

So far in the year 2021, BEML has seen a rise of about 40 per cent, while Nifty has gained 12 per cent and BSE Sensex has gained 17 per cent in the same period.

The market cap of BEML is around Rs 5000 crore. The stock touched its all-time high of 1,544 on March 9, 2021. Since then the stock has been witnessing continuous consolidation.

After making a bottom around Rs 1,130 in April 2021, the stock seems to be moving towards its 52-week high once again. Experts say that in the next 2-3 months, the level of 1600 can be seen in this stock.

Experts say that this stock should remain from a long-term perspective. For this the initial target will be 1550 but stoploss of 1200 rupees must also be set.

Let us tell you that BEML is a government company that manufactures rail coaches as well as mining equipment for mining companies. The government has sold some of its stake in this company. At present, the government’s stake is 54 per cent while 46 per cent is held by financial institutions, foreign institutional investors, banks and employees of the company.

Vaishali Parekh by Prabhudas Lilladher Lets say that we have seen a short term correction recently in this stock. Now after making a bottom of Rs 1130 in this stock, once again it seems to be gaining momentum. We may see this momentum continuing in the months ahead.

He further said that at present, good support is seen for this stock around Rs 1290 and on going above this, we can easily see the level of Rs 1540 in this stock.

He said that the investment advice in this stock would be for a time frame of 2-3 months. The initial upside target for this would be 1550-1600 and any subsequent breakout could take the stock towards 1700-1750.

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