Multibagger Stock: Amidst the discussion of the chemical sector in the primary market, some stocks in this sector have even reached the milestone. Shares of Aarti Industries is one of them. Multibagger stock touched 4 digit mark yesterday and today it has reached its new lifetime high ₹1,071.55 each on NSE. It took almost 6 years to travel from chemical stock ₹from 100 ₹1000 per stock trip. However, stock market experts are still bullish on this chemical counter.
According to stock market experts, this multibagger stock is still looking bullish and may go up. ₹1150 per equity stock level in the short term. He said that with the demand in the domestic market, the plants of Aarti Industries are operating at high utilization levels, indicating a strong future growth outlook.
Aarti Industries Share Price History
As per the share price history of this multibagger stock, the stock was in penny stocks till early 2014. But, from February 2014, penny stocks from the chemical space started showing a sharp jump. From March to September 2014, it increased from ₹22 (Closing on NSE 14 Feb 2014) to ₹70.70 on NSE (Closing Price as on 19 Dec 2014) – is giving multibagger returns in 2014 to the shareholders. The stock has since risen. It first hit the triple digit mark in July 2015, surpassing the penny stock tag.
Multibagger Chemicals stock continued its upward trend and continued to rise in the coming trading sessions. Finally, on 4 October 2021, the chemical stock broke ₹1000 points on closing basis giving fresh breakout for investors.
As per research report by Axis Securities, “Aarti Industries plants are operating at high utilization levels with demand in the domestic market which has already reached pre-covid levels, while export markets are operating at normal by the end of H2FY22. The situation is expected to resurface. Going forward, focus on value-added products, production of more downstream products and better operating leverage is expected to drive margins and profitability of the company. The company will generate good earnings in the medium to long term. The growth is showing visibility of 1) capex coming on stream, 2) commercialization of its key long-term contracts, 3) increasing contribution of value-added products, and 4) structural shifts in global supply chains moving independent of China.
To advise investors to buy this stock; Sumeet Bagdia, Chief Executive Director, Choice Broking said, “The stock has given fresh breakout ₹1000 on closing basis. One can buy counter on CMP and hold for short term target ₹Maintaining a stop loss at 1150 ₹990.”
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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