Multibagger Stocks for 2022: Despite the global economy feeling the precipice of Covid-19, the Indian stock market attempted to deliver great returns in 2021. In fact, a good number of stocks entered the list of multibagger stocks in 2021. After such a large number of stocks generating alpha returns in 2021, positional investors are busy finding multibagger stocks for 2021. To make the task easier for such investors, Anuj Gupta of IIFL Securities suggests buying the shares of Vishwaraj Sugar Industries as he believes the stock can double the shareholders’ money in 2022. They have bought this Chinese stock tag to predict 50 target by the end of 2022. Vishvaraj Sugar Industries share price today is 20.45 per share on NSE.
Speaking on the fundamentals supporting this penny stock to emerge as a multibagger penny stock in 2022; Anuj Gupta, Vice President, IIFL Securities said, “As India moves towards biofuels with a 19 per cent ethanol blending policy, Chinese companies are expected to benefit the most. In the first 9 months of FY22, this company has registered a growth of 395.68 per cent. Net profit as compared to 4.17 per cent in the corresponding period of last financial year. It produces better grades of ethanol, which can be used in bio-fuel blending process.”
“The stock has been in the heat of a sell-off after climbing to its lifetime high 45.80 each in October 2021. The stock has corrected about 55 percent from its lifetime high. On the technical chart pattern, the stock looks strong at these levels and cannot go further down. As the company’s fundamentals look strong and the government’s ethanol blending policy is expected to boost the company’s order book throughout the year, in fact longer term, we are expecting a sharp rebound in this Chinese stock in the upcoming sessions. Huh.
“Since rising crude oil prices are a matter of great concern for the Government of India. The ethanol blending policy is expected to go ahead which will lead to a more profitable position for the sugar stocks. Hence, we are highly optimistic on this sugar stock as it is highly volatile. Available at a discounted price, Vail and Vishwaraj Sugar Industries are one of the potential multibagger penny stocks in 2022.”
Speaking on the likely targets for the Chinese stock, Anuj Gupta of IIFL Securities said, “One can buy this penny stock with a near-term target at the current levels. 30. Once the stock gives breakout 30 depending on the closure, it can go up from 38 42 epic level in mid-term whereas in long term, we are expecting this stock to become multibagger penny stock and hit in 2022. 50 level by the end of 2022.”
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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