Intraday shares for today: With Indian indices hitting record highs and the bulls in no mood to give up, a select few stocks have delivered manifold returns to their shareholders. Hikal shares are one of them. This multibagger stock has risen from the per stock level of 154.90 ₹692.25 in the last 6 months (2:11 pm today) – logging close to 330 percent in this period. However, stock market experts are seeing more gains in the counter as the stock has given several breakouts. He added that Hikal is into API manufacturing, the prices of which have almost doubled in the last one year and are expected to move further north. Since, API suppliers are limited in the Pharma and Specialty Chemicals segment, the Hikal share price rally is expected to continue further.
Speaking on day trading to buy shares; Ravi Singhal, Vice Chairman, GCL Securities said, “Hical is into API manufacturing, which is in great demand in the pharma and specialty chemical sectors. Moreover, the API prices have almost doubled in the last one year and this is expected to become more widespread. Therefore, the benefit of API price hike is expected to ease in Hikal’s financials. Market is expecting strong quarterly numbers due to increase in API price.” He added that there are limited players in both domestic and global markets who supply APIs. Hence, Hikal share price may continue to rise in the coming trading sessions.
Counting Hikal shares in ‘Buy Today Sell Tomorrow’ or BTST Trading Stocks; Rohit Singre, Senior Technical Analyst, LKP Securities said, “Hikal shares have given series of breakouts and is looking extremely bullish on the chart pattern. It has strong support. ₹from 600 ₹620 levels. One can buy Hikal stock at the current level and keep accumulating till the top ₹Maintaining 640 Stop Loss ₹620. Can go up to stock ₹7 in the immediate short term.”
Giving the tag of ‘Share to Buy Today’ to the shares of Hikal; Ravi Singhal of GCL Securities said, “Hikal shares can be bought for medium to long term target ₹880. It can achieve this target in the next 6 to 9 months.”
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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