Multibagger chemical stock surges 36% in 2 days as Shankar Sharma picks stake


Shankar Sharma portfolio: Ishan Dyes And Chemicals share price has skyrocketed from 121.50 (close price on Monday on NSE) to new 52-week high of 166 apiece levels on NSE, logging around 36 per cent rise in two straight sessions. According to stock market experts, this rise is mainly due to the outbreak of news about ace investor Shankar Sharma buying stake in the chemicals company through bulk deal on Tuesday.

Shankar Sharma shareholding in Ishan Dyes And Chemicals

As per the bulk deal information available on the BSE website, Shanka Sharma has bought 7 lakh Ishan Dyes And Chemicals shares paying 121.71 apiece. It means, ace investor has invested 8,51,97,000 in the company to own 7 lakh shares of the company. Ishan Dyes And Chemicals informed Indian exchange in its latest exchange communication on Tuesday that led the news spread in public domain.

Ishan Dyes And Chemicals share price outlook

Speaking on this new Shankar Sharma portfolio stock’s outlook; Sumeet Bagadia, Executive Director at Choice Broking said, “Stock is rising after Ishan Dyes And Chemicals exchange communication about the bulk deal in which ace investor Shankar Sharma bought 7 lakh shares of the company. The stock has given breakout at 140 yesterday and now it may go up to 180 to 200 in next 15 days to one month time-horizon.” Bagadia went on to add that the multibagger chemical stock has strong support at 130 to 140 levels. Those who have this stock in their portfolio should continue to hold the stock for immediate short term target of 180 to 200 levels, he said.

Ishan Dyes And Chemicals share price history

This new Shankar Sharma portfolio stock is one of the multibagger stocks in 2021. In last one year, this multibagger stock has risen from 53.30 to 166 apiece levels, logging around 200 per cent rise in this period. In last one month, this chemical stock has delivered stellar over 65 per cent return to its shareholders as it has risen from around 100 to 166 per share levels in this time.

More about Ishan Dyes And Chemicals stock

This new Shankar Sharma portfolio entrant is a small-cap stock, which has current market capitalization of around 258 crore. Today it has made 52-week high of 166 whereas its 52-week low is 46.15 per shares. Its dividend yield is 0.77 per cent while its PE ratio is 17.15. Its current trade volume is 15,76,665 that is much higher from its 20 days average volume of 2,32,524. Book value per share of this Shankar Sharma stock is little above 40.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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