This Nemish Shah portfolio stock gives breakout. Buy, say experts

30 Jun , 2021 By : Kanchan Joshi

Nemish Shah portfolio stock EID Parry has delivered over 60 per cent in the last one year. EID Parry share price history suggests that the public company stock has consistently performed throughout the year as it yielded 2.39 per cent in the last five trade sessions, which went up to little over 6 per cent in the last one month. In the last six months, EID Parry share price has yielded around 29 per cent. According to experts, EID Parry shares have given breakout at Rs425 and it can go up to Rs530 mark in next fifteen days.

Speaking on the fundamentals supporting EID Parry shares; Arijit Malakar, Head of Research at Ashika Stock Broking said, "EID Parry has been working to turnaround its sugar segment through asset relocation, which will increase the cane availability. Company is also optimistic on Ethanol Blending Programme and is expected to add 60 kilo per day distillery in Bagalkot (Karnataka) and also considering potential distillery capacity addition based on government initiatives. Company is also focusing on de-leveraging its balance sheet by reducing debt through monetizing its stake in subsidiary, Coromandel International and efficient working capital management, which would result in better earnings growth going ahead."

Highlighting important levels of this Nemish Shah portfolio stock Mudit Goel, Senior Research Analyst at SMC Global Securities said, "EID Parry has recently given breakout at Rs425 and has been sustaining above this mark. One can buy this stock at current market price for the target of Rs500 to Rs530 in next fifteen trade sessions." However, he strictly advised investors to maintain stop loss at Rs425 while taking this positional call.

Nemish Shah net worth in EID Parry

As per EID Parry shareholding pattern for March 2021 quarter, Nemish shah holds 20,79,531 shares of the company, which is to the tune of 1.17 per cent of the net company shares.

Apart from Nemish Shah, there are some other marquee investors who have share holding in EID Parry. Those investors are Hitesh Satishchandra Dosi, Govindlal M Parikh and Ketan Shantilal Shah who respectively hold 3.52 per cent, 1.99 per cent and 1.63 per cent of the net company shares.