Multibagger Stock: After delivering a strong rebound in the post-Covid rally, Aarti Industries share price is under consolidation after hitting its lifetime high in October 2021. On Monday, the multibagger stock hit its 52-week low. 708.40 on NSE. According to stock market experts, the sell-off in Aarti Industries shares was due to weak global sentiments as the chemical company posted 45 per cent year-on-year growth in revenue and 42 per cent year-on-year growth in PAT (profit). after tax).
to speak on Aarti Industries Share PriceManoj Dalmiya, Founder & Director, Profitable Equities, said, “Shares of Aarti Industries are facing sell-off due to global market sentiment, hike in interest rates and supply-side issues. The company sees trading volume in API. has to suffer a setback. Due to increase in benzene prices on rising crude oil prices. However, the chemical company has registered 45 per cent growth in revenue growth, while its PAT has increased by 42 per cent in that period.” He added that the stock is currently trading below the 200 DEMA and expects a turnaround if the base formation takes place.
Echoing Manoj Dalmiya’s views, Ravi Singh, Vice President and Head of Research, Share India Securities said, “On the technical setup, Aarti Industries share price is in a downtrend for short term and is trading near the support level of 700, It has 200 DEMA.”
Manoj Dalmiya, Proficient Equities said, “On technical setup, Aarti Industries is in a downtrend for short term and is trading near 700 level.
Ravi Singh of Share India Securities, while advising investors to avoid any haste in taking positions in this multibagger stock, said, “The stock is in bearish trend and is breaking below the support. 700 level could push the stock higher 670 levels in the near future.”
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.