Multibagger Stock: There is a continuous decline in the stock market. In such a situation, investors are worried that where to invest, in which stock to invest money so that they get multibagger returns. In such a situation, a stock in the portfolio of stock market veteran Rakesh Jhunjhunwala can give a return of 142 percent to investors in the next few days. The name of this stock in Rakesh Jhunjhunjhuwala’s portfolio is Jubilant Ingrevia which is a company of pharma and agro-chemicals sector. Brokerage firm Edelweiss Securities has given a buy recommendation on the shares of Jubilant Ingrevia. Edelweiss Securities has advised investors to buy Jubilant Ingrevia with a target of Rs 1006.
Not only Edelweiss Securities but other brokerage houses are also bullish on the stock. According to Angel One, the stock may double from the current level. Angel One has predicted the share to go up to Rs 837. In Wednesday’s trading session, the stock of Jubilant Ingrevia closed at Rs 447 with a jump of 1.57 per cent. The highest level of the stock is Rs 838.
Rakesh Jhunjhunwala had a 6.3 per cent stake in Jubilant Ingrevia in one round. But Rakesh Jhunjhunwala has reduced his stake in Jubilant Ingrevia from 6.3 per cent to 4.7 per cent. Jubilant life was demerged after which Jubilant Ingrevia and Jubilant Pharma became two companies. Jubilant Ingrevia was listed on the stock exchange in March 2021 this year. Jubilant Ingrevia was listed at Rs 271 per share. Since then, this stock has given excellent returns to the investors.
Jubilant Ingrevia is present in three business verticals which include Specialty Chemicals, Nutrition – Health Business and Life Science Chemicals. 50% of the company’s revenue comes from the Lip Science Chemical Division. Specialty chemicals generate 32 per cent and the nutrition-health business generates 18 per cent of the revenue. The company is one of the leading manufacturers of pyridine-based products used in the manufacture of vitamins, dyes, medicines and other organic compounds.
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