Multibagger Stocks: Many a times, ordinary investors invest in stocks by taking ideas from the portfolios of veteran investors. They expect that at some point in time they will also get multibagger stocks in their hands. One such multibagger stock is Man Infraconstructions of veteran investor Rakesh Jhunjhunwala.
However, in the year 2022, this stock has seen a continuous decline. Talking about the last one month, the shares of Man Infraconstructions have fallen by 18%. In such a situation, once again the eyes of the investors are fixed on it.
What should investors do?
According to market experts, the fundamentals of the stock of Man Infraconstructions are very strong. However, due to the value level, its shares have fallen. According to Mint, market experts say that this stock in Rakesh Jhunjhunwala’s portfolio is currently in a declining phase. Further, it can fall to the level of Rs 92.
Market experts say that those who are positional investors can invest money in the shares of Man Infra. Investors are advised to start investing in shares around Rs 92 and can invest as long as it remains above Rs 70. When the stock returns, it can go up to Rs 125.
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Is the company fundamentally strong or not?
According to Mint, while talking about the fundamentals of Man Infra, Sudhanshu Singh, Director, IBBM-MoneyMakers India Securities said that the fundamentals of the company are strong. But despite the 18% drop, it is overvalued at the present price. Shares of Man Infra are trading at Rs 96.50, up 3.15% on Tuesday morning at 10.36.
Manoj Dalmiya, Founder and Director, Profitable Equities Private Limited said that looking at its chart pattern, it seems that its support level is Rs 70.
Are stocks more risky?
There is a risk in the shares of Man Infra, so Dalmiya advises that only those investors who can tolerate more risk should invest in Man Infra shares for the time being.
Sumeet Bagadiya, executive director, Choice Broking, says that investors who cannot take much risk should stay away from it for now. A slight resistance level is visible at Rs 105. If Man Infra manages to cross it, then it can go further up to the level of Rs 125. Bagadia said that do not forget to put a stop loss at Rs 80 in this stock.
Man Infra shares move
In the last one year, this multibagger share has increased from Rs 28.73 to Rs 96.50. During this time it gave a return of 230% to its investors. If we look at the move of the last 6 months, this share of Rakesh Jhunjhunwala has increased from Rs 46.67 to Rs 95.40. Accordingly, a return of 105% has been given in 6 months.
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