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HomeSTOCKS240% Massive Return After Listing; Today Giving Another Chance; Rs 250 Target...

240% Massive Return After Listing; Today Giving Another Chance; Rs 250 Target Price

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Multibagger stock: The share price of Electronics Mart India Ltd (NSE: EMIL) has risen 240% since its listing on October 17, 2022. This means that the investors who received shares would have made a profit of more than ₹ 51,000 in about 18 months. 

Today, despite huge fluctuations in the stock market, shares of Electronics Mart India Ltd rose by more than 2%.

The stock opened with the intraday lowest of Rs196 and reached an intraday high of Rs200.10 at the BSE. The share price of Electronics Mart India Ltd has increased by 170% in a year.

What is the brokerage’s opinion?

Brokerage stated that the company’s stock was showing a bullish trend in long-term charts. However, it may consolidate within a range in the near term. 

Support for downsid3 is between Rs160 and 170 While resistance is seen at the range of Rs 220. The stock is well above the short-term moving average on the weekly time frame, indicating bullishness with a possible rise towards 250 levels.

Business of a company

The company has a broad assortment of products that particularly focus on small appliances, mobile appliances, IT, and major appliances (air conditioners, TVs refrigerators, washing machines) as well as others.

In April of this year, Electronics Mart India Ltd opened its first multi-brand store in India and began operation across Telangana as well as Andhra Pradesh under the brand name “Bajaj Electronics”.

The company began business with a new multi-brand specialty shop at Rajouri Garden, Delhi, which will be named “Audio & Beyond” and added two brand new stores multi-brand in NCR.

Disclaimer: The information on this site is only for informational and educational purposes and shouldn’t be considered financial advice or stock recommendations. We are here to provide timely updates about the stock market and financial products to help you make better investment choices.

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