This multibagger chemical stock ran upwards due to a decision of the government, now buy or not? Learn

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new Delhi. After the sell-off in the recent days, there has been a strong jump in the share price of SRF in the last one week. This multibagger chemical stock has gained close to 8 per cent in the last one week, which has caught the attention of retail investors. According to stock market experts, the Government of India (GoI) has recently decided to restrict the import of hydrocarbon fluoro chemical, which is manufactured only by SRF.

After the restrictions, the market is hoping that the company will capture new business opportunities. Although experts also say that it is difficult to estimate right now how much growth can be done in the business of this chemical company due to this decision of the government, but experts also say that this stock must be taken from a medium to long term perspective. Should be included because this stock will definitely get the benefit of the ban imposed on hydrocarbon fluoro chemical.

Also read – Multibagger stock: These shares ran amazingly, made Rs 1.64 crore worth Rs 1 lakh

What is stoploss and target
Mudit Goyal of SMC Global Securities says that positional investors must include this stock in their portfolio. SRF has strong support around ₹2,350 per share. In the short term, this stock can be seen going up to ₹ 2,520 and once it moves upwards, this stock can rise further. In such a situation, one should buy this stock at the current level with a stop loss of ₹ 2,350.

Similarly, Avinash Gorakshakar of Profitmart Securities also says that SRF will benefit from this decision of the government. He further said that this stock must be included in your portfolio from medium to long term perspective.

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SRF share price history
The stock of SRF was under selling pressure for some time, but in the last 5 trading sessions, once again buying has been seen in it and in 5 days this stock has run almost 8 percent. The stock has been one of the multibaggers of 2021. In the last 2 years, this stock has given a return of about 120 percent. The current market cap of the stock is Rs 71,750 crore and its dividend yield is 0.30 per cent.

(Disclaimer: The stocks mentioned here are based on the advice of brokerage houses. If you wish to invest in any of these, please consult a Certified Investment Advisor first. Tech for FTCP will not be responsible for any profit or loss caused by you .)

Tags: Multibagger stock, stock market, Stock tips

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