'Aaj Ke 2000': Anil Singhvi recommends BUY for Rain Industries share, gives 3 TARGETS– know why Market Guru picked this stock

In the special edition of ‘Aaj Ke 2000’, Zee Business Managing Editor Anil Singhvi recommended to buy shares of Rain Industries, a petrochemical company, for bumper returns. The Maret Gur citied two important reasons as in why this stock is ready for big action and would show an up move soon.

Singhvi suggests, Rain Industries should be brought at current levels for specifically two reasons: rise in the aluminum prices and shortage of coal. He suggests, the company is a direct beneficiary of both the reasons and due to less supply of coal, their CPC (Calcined Petroleum Coke) would be in demand.

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The managing editor expects, the stock would soon hit a target of Rs 242, 248, and 255 per share levels, and sets a stop loss of Rs 230 per share. The stock has been trading near the day’s high level of Rs 244.6 per share, up around 7 per cent on the BSE intraday today.

On the technical front, Choice Broking Executive Director Sumeet Bagadia said Rain Industries is a perfect buy for good returns and says the stock has been breaking the last three day’s high. And, if we see today closing above Rs 240 per share, then the stock is ready to show a rally further, he adds.

#Aluminium के दाम बढ़ने और #Coal के शॉर्टेज का #RainIndustries को मिलेगा भरपूर फायदा

अनिल सिंघली के साथ #AajKe2000 में बनाइए कमाई की स्ट्रैटेजी@AnilSinghvi_

डाउनलोड करें Zee Business मोबाइल एप: https://t.co/n3bURESey1 pic.twitter.com/VpxJZhHphp

— Zee Business (@ZeeBusiness) September 9, 2021

The market analyst Bagadia sets a price target of Rs 255 and 275 per share, with a stop loss of Rs 230-232 per share. 

The company on Thursday in a filling to exchanges said, “Rain Carbon Inc., a wholly-owned subsidiary company of Rain Industries Limited with regard to restart of the Calcined Petroleum Coke (CPC) production at three of its U.S.A. facilities and that the restart process has begun at a fourth plant that was impacted by Hurricane Ida.”

The stock on August 2, 2021, hit its 52-week high to Rs 272.9 per share on the BSE, and it has jumped 12 per cent in the last five sessions, while has gained almost 127 per cent in the last one year.