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  1. Buy this infra stock below Rs 50 and double your money in 6 months; hint: this company built Delhi airport

Buy this infra stock below Rs 50 and double your money in 6 months; hint: this company built Delhi airport

Indian markets have been going through a slight pause after the record-breaking rise up until January 2018. We bring to you a stock of an infrastructure company which had built New Delhi IGI airport to buy that could double your money in just 6 months.

By: | Updated: February 20, 2018 2:21 PM
Photo for representational purposes only.

Indian stock markets have been going through a slight pause after the record-breaking rise up until January 2018 from December 2016 with the benchmark Sensex gaining more than 30% in the 13-month long period. During the same period under review, many stocks such as Tata Steel, Bharti Airtel, Maruti Suzuki, Reliance Industries, DLF, Indiabulls Housing Finance, HDFC Bank have risen up to 90% vastly outperforming the key equity index Sensex. Earlier in the beginning of February 2018, Indian equities witnessed a major correction following the global sell-off and pessimism flow on the worries of LTCG on equity being taxed at 10%.

In the Union Budget 2018, the Finance Minister Arun Jaitley brought the LTCG (Long-Term Capital Gain) on equity over Rs 1 lakh under the tax net. From the beginning of the financial year 2018-2019, a 10% tax will be levied on long-term capital gains on an amount exceeding Rs 1 lakh. The world-wide correction led the Sensex to lose nearly 1,500 points in a single week. Amid the high-end euphoria in domestic equities, we bring to you a stock of an infrastructure company which had built New Delhi IGI (Indira Gandhi International) airport to buy and double your money in just 6 months.

Shares of GMR Infrastructure have risen about 15% in the last one year period. The research and brokerage firm HDFC Securities has given a buy rating to the stock with a target price of Rs 37 which implies an upside of 107% from the current market price of Rs 17.85. HDFC Securities has given a time frame of 180 days. “Traders could start creating long positions between Rs 23 and Rs 18.5 level for sequential targets of Rs 29 followed by Rs 37. Traders could keep a stop loss at Rs 16 on weekly closing basis,” HDFC Securities said.

The stock of GMR Infrastructure is a component of S&P BSE 200 index and commands a market capitalisation of Rs 10,744 crore on BSE. Earlier last week, GMR posted a consolidated net loss of Rs 565.94 crore for the October-December period of the financial year 2017-2018 as against the net profit of Rs 643.44 crore in the same period of the previous fiscal. In GMR Infrastructure, GMR Enterprises Pvt Ltd holds the maximum number of shares followed by the company’s chief promoter Mallikarjuna Rao Gandhi. As on 31 December 2017, GMR Enterprises Pvt Ltd held about 47.69% of the shares.

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