The Abu Dhabi Investment Authority will buy a share of this export stock. Experts give a “buy” tag | Job Binary


Abu Dhabi Investment Authority – a sovereign state-owned investment fund – has bought a new stake in Gokaldas Exports Ltd. A foreign fund set up on behalf of the Government of the Emirate of Abu Dhabi for the purpose of investing funds has bought 15 lakh shares paying 349.75 each. Hence, the export stock has attracted FII investments from Abu Dhabi-based global investors by value 52, 46, 25,000 or 52.46 million euros.

A global investment fund owned by the government of Abu Dhabi bought these shares in a mass sale that took place on September 30, 2022.

According to stock market experts, the stock of Gokaldas Exports is expected to rise 500 per piece in the next 5-6 months. They advised to buy shares at the current level and continue to accumulate until the shares trade over 320 per share. Market experts added that Gokaldas Exports share price may rise sharply after it gives a technical breakthrough 382 levels each.

Speaking on the share price outlook of Gokaldas Exports, Anuj Gupta, Head of Research, IIFL Securities said, “Gokaldas Exports shares are until 318 390. Those looking to buy this stock in the short term are advised to maintain a tight stop loss 318 and accounting profit around the upper levels.”

Manoj Dalmia, founder and director of Proficient Equities, announced the investment strategy for Gokaldas Exports stock: “Those who are willing to take risk can buy the stock at the current level and keep below the stop loss. 320 levels. in the short term, the stock may rise 385 and 417 levels per piece. However, for those who want to play it safe, my suggestion is to buy above 382 as the stock is expected to give a technical breakout in the chart pattern at these levels and may turn very bullish after closing above 382 levels. So investors with low risk appetite can buy this stock as a medium-term target 470 – 500 levels.”

Manoj Dalmia of Proficient Equities added that one should not hold the counter when the stock hits 500 per unit level as there may be steep sales at the counter after that as noted after June 2022 peak.

Disclaimer: The views and recommendations presented above are the views and recommendations of individual analysts or brokerage firms and not of Mint.

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