Stock to buy: This stock has increased by 312% in the last year and so far this year it has registered a rise of 382.20%. Avantel shares have a beta of 0.3, indicating low volatility over one year.
Defense sector stock Avantel Limited has given tremendous returns to its investors by reaching Rs 3.38 to Rs 123.25 in just 5 years. Not only this, even just two years ago, those who had invested in this stock have become rich. Avantel shares have given nearly 1,000% returns in two years.
This defense stock had closed at Rs 11.48 on November 29, 2021, and reached Rs 123.25 on December 30, 2023. It has given returns of nearly 1,000% during this period. If we talk about the performance of the last 5 years, then on December 7, 2018, the price of one share was Rs 3.38, which has now jumped by 3546 percent to reach Rs 123.25.
This year the money increased almost 5 times
This stock has increased by 312% in the last year and so far this year it has registered a rise of 382.20%. That means so far this year it has converted an investment of Rs 1 lakh into around Rs 5 lakh. Avantel shares have a beta of 0.3, indicating low volatility in one year. Avantel shares hit a 52-week low of Rs 22.00 on December 23, 2022, and a record high of Rs 136 on November 28, 2023. The stock has fallen 11 percent so far from its record high.
Stock can also go from Rs 152 to Rs 155
Shiju Koothupalakkal, Technical Research Analyst, Prabhudas Lilladher said, "The stock has seen a good rally on the daily chart and has maintained a strong uptrend. Currently in the resistance zone of Rs 135. In case of correction, levels of Rs 117-119." But there is support in the near term. Apart from this, we can get one breakout above Rs 135 on the upside and can also move beyond the zone of Rs 152 to Rs 155."
Book profits at current levels
On the other hand, Market Expert Abhijeet of Tips2Trades said, "Avantel is bullish but is also overbought with the next resistance at Rs 138.35 on the daily chart. Investors should book profits at the current levels, as support at Rs 122 is expected in the near future." If it closes below Rs 103, it may also come to Rs 103.
(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their. The information given here is only about the performance of the shares and is not investment advice. Investing in the stock market is subject to risks and Consult your advisor before investing.)