Power stock to buy: Up almost 30% in one month, expert suggests buying this stock trading under Rs 150, know target price
Market expert Sandeep Jain chose to buy power stock, Ratnaveer Precision Engineering, for short- and long-term gains. According to Jain, this stock can give good returns in the future.
Most of the power stocks closed in green today, April 24. Shares of companies like GE Power India Ltd (up 4.41 per cent), Power and Instrumentation (Gujarat) Ltd (up 4.99 per cent), KPI Green Energy Ltd (up 5 per cent), Hitachi Energy India Ltd (up 1.88 per cent) closed higher among many other stocks. This was mainly due to the rising demand for power in the country and the economic rebound, among other factors.
On Tuesday (April 23), Tata Power also announced its partnership with the state-owned Indian Bank to promote the adoption of solar rooftops among residential consumers.
Power stock to buy: Market expert Sandeep Jain chose to buy power stock, Ratnaveer Precision Engineering, for short- and long-term gains. According to Jain, this stock can give good returns in the future.
The company was listed in September 2023. Expert Sandeep Jain said that this stock has shown a correction from the above levels, and this is a company in the range of Rs 600 crore, so one can bet cautiously on this stock.
Ratnaveer Precision Engineering: Target price
Shares of Ratnaveer Precision last traded at Rs 144.80 apiece today on BSE. The expert has suggested a target price of Rs 150 to Rs 160 on this stock.
Why should you buy Ratnaveer Precision Engineering stock?
According to Jain, consolidation has been seen in the stock recently. Experts said that the IPO of this company had received a very good response, and even after the IPO, the company's shares have performed well. The company has reduced its debts. This company manufactures some products related to stainless steel. The expert said that he has covered this stock for the first time and has given a buying opinion.
Ratnaveer Precision Engineering: Past performance
In the last month, the power stock has gained almost 30 per cent. However, since its listing in September, the company has given around 12 per cent returns. The stock has jumped over 27 per cent on a year-to-date (YTD) basis.
(The views/suggestions/advices expressed here in this article are solely by investment experts. Zee Business suggests its readers to consult their investment advisers before making any financial decision.)
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