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Experts give buy tag despite Dolly Khanna booking profit in this IT stock in Q3

24 Jan , 2022   By : Kanchan Joshi


Experts give buy tag despite Dolly Khanna booking profit in this IT stock in Q3

Ace investor Dolly Khanna has booked profit in one of her portfolio stocks — Nucleus Software Exports. As per the IT company's shareholding pattern for December 2021 quarter, Chennai-based investor's name is missing from the list of individual shareholders of the company who own 1 per cent or more stakes in Nucleus Software Exports. This means the marquee investor has either exited the stock or she has sold out her stake in the company to an extent that led to her shareholding in Nucleus Software Exports come below 1 per cent. However, stock market experts are unmoved by this development in Dolly Khanna's portfolio. They said that stock is bullish and it may go up to Rs640 per share levels in short term.


According to stock market experts, Nucleus Software share is looking bullish on chart pattern. the It company has recently bagged big order from Vietnam Commercial Bank that led to sudden surge in its export by near 4.90 per cent. Apart from this, announcement of Nucleus Software share buyback at Rs700 is also going to fuel IT stock in near term.


Speaking on the fundamentals that may fuel rally in this IT stock; Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Recently, Nucleus Software Exports Ltd has received a big order from the Vietnam Commercial Bank that led to rise in its exports by near 4.90 per cent. So, we can expect this to reflect in the strong quarterly numbers of the company in upcoming company result season. Apart from this, the company has announced Rs700 buyback that is also a positive signal for the investors and the current condition of the company's balance sheet." Avinash Gorakshkar of Profitmart Securities advised stock market investors to add this stock in their portfolio.


Expecting sharp upside in the stock in short term; Sumeet Bagadia, Executive Director at Choice Broking said, "Nucleus Software shares are looking bullish on chart pattern and one can buy this stock for sharp upside move in short term. The stock may go up to Rs640 in near term. However, one must maintain strict stop loss at Rs550 per share levels." Sumeet Bagadia said that the IT stock had given breakout at Rs575 on Friday trade session but the stock has closed below Rs575, so one should buy above Rs575 per share levels only.


Dolly Khanna shareholding in Nucleus Software Exports


According to Nucleus Software Exports shareholding pattern for October to December 2021 period, Dolly Khanna's name is missing from the list of individual shareholders whereas she used to hold 2,99,720 Nucleus Software shares, which was 1.03 per cent of the net issued paid-up capital of the company. This means, Dolly Khanna sold out her stake in the company during third quarter of the current fiscal. However, it can't be ascertained whether she sold out her entire stake or she booked partial profit in the company to an extent that her shareholding in the company came below 1 per cent. As per the rules, listed companies are not bound to share names of individual shareholders who have less than 1 per cent stake in the company in individual capacity.


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