Experts recommend 'buy' on oxygen maker company stock

28 Apr , 2021 By : Kanchan Joshi

Amid soaring demand for oxygen cylinders across nation, stock market experts have suggested investors to look at oxygen maker company stocks for immediate short-term time horizon. They said that due to the rise in their business, such company shares are expected to give sharp upside move. They named Linde India shares to buy today. They said that the stock has soared more than 100 per cent in the last three months and it is still poised for upside moves in immediate short-term.

Speaking on the fundamentals supporting Linde India share price rally Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Due to the spread of Covid-19 pandemic, demand for oxygen cylinders across nation has suddenly gone up to an alarming level. Recently, some corporate (ITC, TCS) have also come forward to supply oxygen cylinders to the Indian hospitals and they are ordering Linde India for oxygen cylinder supply. So, Linde India is expected to get major boost in its business outlook and revenue generation in immediate short-term time-frame. But, the stock has been rising for the last three months and profit-booking is awaited in it. I would advise investors to buy Linde India shares after the profit-booking, not at current market price."

Unveiling important levels that would help investors maximise their income from the stock; Mudit Goel, Senior Research Analyst at SMC said, "Linde India share price has strong support at Rs1820 and one can keep on accumulating this stock till it is trading above this level. But, one should strictly maintain the stop loss below Rs1820. The immediate short-term Linde India share price target is Rs2000 and Rs2070."

Linde India share price history suggests that the oxygen maker company's stock has delivered more than 100 per cent to the investors in the last three months. Linde India share price had closed at Rs899.40 on 27th January 2021 while it closed at Rs1887 on 27th April 2021. However, in the last one year, Linde India share price has skyrocketed from Rs535.65 to Rs1887.