Multibagger stock : If you are interested in investing in the stock market, then you can earn huge profits by investing money in this multibagger stock. The stock of Jindal Drilling and Industries Limited (LDIL) has been one of the few multibagger stocks of 2021 and has given excellent returns in 2022 as well.
According to the share price history of Jindal Drilling, this stock has increased from Rs 94 to Rs 217 in the last one year. Thus, the stock has gained almost 130 per cent in this period. At the same time, so far this year, the stock has strengthened about 55 percent. However, HDFC Securities still sees bullish momentum in this multibagger energy stock.
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Shares may be worth Rs 283 in a few months
According to a report by HDFC Securities, the stock of Jindal Drilling is still in a strong position in terms of fundamentals and it can go up to Rs 283 from the current Rs 217 in the next few months. Thus, the brokerage expects 30 per cent returns in the next few months in this stock.
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Increased trust due to these reasons
The brokerage said, “The strong demand for oil and natural gas and increase in their prices, charter rates under renewed contracts will see a significant increase in its profits and revenues. The company is also looking to expand its business internationally. HDFC Securities while advising positional investors to invest in Jindal Drilling said, in the next 2-3 quarters, the stock may go up to Rs 245 in base case and Rs 283 in bull case. Investors can buy it between Rs 214-226.
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Tags: business news, Multibagger stock, Share market, Stock Options
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