23 Sep , 2021 By : Kanchan Joshi
Multibagger stock: The year 2021 has given handful of multibagger stocks in India. Thanks to the participatory rally at Indian stock market, where NSE Nifty, BSE Sensex, BSE Small-cap and BSE Mid-cap indices surged to its record high. In fact, in last one month, these Indian indices have been making new highs and market bulls are still not ready to give up against bears. HFCL shares are one of such scrips that figures in this list of multibagger stocks in 2021. The telecom stock surged from Rs25.15 per share levels (close price on 31st March 2021 on NSE) to Rs74.40 apiece today — almost tripling in the new financial year.
HFCL share price history
As per HFCL share price history, the telecom stock surged from 58.95 to Rs74.40 apiece in last one month — logging more than 25 per cent rise in this period. Likewise, in last 3 months, this multibagger stock went up from Rs66.80 per share levels to Rs74.40 — 11 per cent rise only. The telecom stock went through profit-booking from mid-July to mid-August shedding from a closing high of Rs89.25 per shares to the closing low Rs57.85 per shares. However, fresh buying began after this profit-booking that reflects in the last one month appreciation of this telecom share price.
Similarly, if we look at this multibagger stock price movement in FY2021-22, the telecom stock went up from Rs25.15 per share levels to Rs74.40 apiece today — logging around 196 per cent rise in new financial year.
Impact on investors' money
Taking cue from this multibagger stock's share price history, if an investor had invested Rs1 lakh in this telecom counter one month ago, its Rs1 lakh would have turned to Rs1.25 lakh today. However, if an investor had invested Rs1 lakh in this stock 3 months ago, its Rs1 lakh would have become Rs1.11 lakh today.
Likewise, if an investor had invested Rs1 lakh at the close price on 31st March 2021, and had remained invested in this counter throughout this period, then its Rs1 lakh would have turned to Rs2.96 lakh today.
HFCL share price outlook
Expecting further rise in this multibagger stock; Sumeet Bagadia, Executive Director at Choice Broking said, "The telecom stock still looks bullish on chart pattern and one can buy this counter at current market price maintaining stop loss at Rs68 for immediate target of Rs80. One can hold the counter for Rs85 and Rs90 targets in short to medium term as well."
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