Best stock to buy now for 15% gains in the short term
Best stock to buy now for 15% gains in the short term: The Indian stock markets are trading range-bound for the last few days, in absence of any major trigger. In such a scenario, you have to be selective while picking up the stock. We have selected a stock that you can buy for 15% gains in the short term
Stock to Buy- BLS International | CMP- Rs 178.15 | Target- 205 (15% up)
BLS International Services Ltd is one of the top three visa application outsourcing companies in the world. It provides visa, passport, consular, and citizen services in 66 countries and has 46 government clients (roughly 12% of the market in 2022).
The share price of BLS gained above 6% on Friday 21 April and closed at Rs 178.15 on NSE, with huge volume. The share price of BLS has hit a 52-week low at Rs 76 and a high of Rs 209. The stock has given a yearly return of 115%, which is pretty good.
BLS is a low debt-to-equity ratio company. The company has declared outstanding results in Dec 2022, its operating profit growth was 152.72%. The company has declared positive results for the last 7 consecutive quarters.
Technical Analysis of BLS International
From a technical point of view, the stock has taken support near the significant 200DMA levels of the Rs150 zone and indicated a decent pullback to move past the important 50EMA levels. This has improved the bias and is anticipated for a further up move in the coming days.
The RSI indicator has also indicated a trend reversal for the stock, and with much upside potential, the stock is currently well-placed, and waiting for a further northward journey.
Prabhudas Lilladher recommended to buy the stock for an upside target of Rs 205 (15%) keeping the stop loss of Rs 163. The Trendlyne analyst’s consensus recommendation is also suggesting to buy the stock.
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Best Stock to Buy Now for the Short Term in April 2023
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