Dolly Khanna is known for adding less popular stocks to her portfolio and outperforming the Benchmark Index by a huge margin. Nitin Spinners included in Dolly Khanna’s portfolio is one such stock. This stock invested by Dolly Khanna is one of the multibagger stocks of the year 2021.
Nitin Spinners has given returns of around 290 per cent to its investors since the beginning of 2021. At the same time, it has doubled its investors’ corpus by giving around 500 per cent return in the last one year. Dolly Khanna has increased her stake in Nitin Spinners in the September quarter, which suggests she is still bullish on this stock.
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According to the shareholding pattern of Nitin Spinners for the July-September quarter, Dolly Khanna holds 9,23,373 shares or about 1.64% stake in the company. At the same time, Dolly Khanna held 6,95,095 shares or 1.24% stake in the company till the June quarter. This means that Chennai-based veteran investor Dolly Khanna has bought 2,28,278 additional shares or 0.40% additional stake in Nitin Spinners during the September quarter. This suggests that Dolly Khanna is still bullish on this Multibagger stock and more upside is expected in this stock.
Like Dolly Khanna, many other stock market experts are also bullish on this multibagger stock. He believes that there has been a recent breakout in the stock and it can go up to Rs 350 per share in the short term. On Wednesday, around 3:15 pm, the shares of Nitin Spinners were trading at Rs 274.00, down 2.47 percent on the NSE.
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“Nitin Spinners shares have given fresh breakout recently. It is likely to touch Rs.300-Rs.320 level soon,” said an analyst with a brokerage firm. With a target price of Rs.300-320 in the short-term. It can be bought at the current price and a stop loss of Rs 260 should be applied for the stock.”
On the other hand, another analyst said, “Nitin Spinners have seen a continuous bull rally. The level of Rs 295 to 300 is important for this. After crossing it, it can go to the level of Rs 350. There is a fall. But the level of Rs 240 will act as a strong support.”
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