Due to good corporate performance, favorable monsoon conditions, and purchases by foreign investors, the local stock market has surged to all-time highs. NHPC Limited, a power PSU company, has been highlighted by domestic brokerage house ICICI Direct as a strong selection for short-term earnings amid this rise. Over the last two years, Navratna-status business NHPC has produced outstanding returns of more than 240%.
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Investor Suggestion Purchase This Multi-Bagger
Target for NHPC Share Price
Within a three-month timeframe, ICICI Direct suggests purchasing NHPC shares, with a target price of Rs 132 a share. With a stop loss at Rs 102, the suggested purchasing range is between Rs 111 and Rs 115. NHPC’s shares closed at Rs 113 on July 12. decreased by 0.92%. There is a possible 17% price increase for this stock from its current level.
The firm emphasizes that after a multiyear breakout, the BSE Power Index is currently in a structural rise. The cup-and-handle pattern on NHPC is currently breaking out, and buying demand is above the 50-day EMA. This points to the possibility of fresh entrants and a return of the upward trend. The price behavior of the stock has created a cup-and-handle pattern over the last six months, indicating that the structural uptrend will continue. After a period of consolidation, NHPC is now ready for a breakout because it has been above its 50-day EMA since November 2023.
History of NHPC Share Price, Investor Suggestion Purchase This Multi-Bagger
With a 52-week high of Rs 117.80 and a low of Rs 44.87, NHPC has shown itself to be a multi-bagger stock. The market value of the company is a whopping Rs 1,13,508.89 crore. The stock has gained 9% this week, 12% over the last two weeks, 10% over the last month, 22% over the last three months, and 63% over the last six months, demonstrating an impressive performance. The stock has increased by around 70% just in 2024. NHPC has produced returns of 140% over the last year, 242% over the next two years, and an incredible 335% over the next three years.
NHPC is a tempting investment opportunity in the power sector due to its strong performance and room for growth.
Account opning link:
- Groww Account- https://app.groww.in/v3cO/kyrp1zph
- Kotak neo Account https://kotaksecurities.ref-r.com/c/i/32531/109103906
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