New Delhi: The June 4, 2024, Andhra Pradesh Assembly election result has brought 2 stocks in focus that are directly related to the poll triumph of veteran administrator, and ‘CEO’ chief minister Chandrababu Naidu. Heritage Foods’ share price was up 124 per cent while Amara Raja Energy and Mobility’s share price has surged 230 per cent over the past year, led by the post-poll market rally. Analysts are bullish on these stocks and have shared target share price with stop loss for investors to explore the upside in these scrips.
Amara Raja Energy and Mobility share price
Battery maker Amara Raj Energy and Mobility’s share price has surged more than 20 per cent since the June 4 poll results. The company, led by former TDP MP Jay Dev Galla, has witnessed strong momentum since June 4 and is likely to continue its upsurge, according to Religare Broking’s technical analyst Rohan Shah. Amara Raja’s share price may test Rs 1,600 level. He suggests buying the stock on dips at Rs 1350-1,330 per share, with a stop loss at Rs 1,280 per share.
Amara Raja’s share price was down 2.45 per cent on the day to Rs 1,366 per share.
The company’s stock price gained 23.20 per cent over the past 5 days.
It was up 28.20 per cent over the past month.
Amara Raja’s share price was up 80.72 per cent over the past 6 months.
The company’s stocks gained 118.56 per cent over the past year.
The company’s pivot towards lithium-ion batteries poses a risk, but the lead-acid battery business is expected to remain steady, the ET reported, citing Arun Agarwal, VP and analyst for fundamental research at Kotak Securities.
Heritage Foods share price
Heritage Foods, the company founded by Chandrababu Naidu, which counts his wife and son as promoter shareholders, has seen its stock price surge over 70 per cent in the past few sessions. Religare Broking technical analyst Rohan Shah suggested profit booking at current levels with a stop loss at Rs 660 per share.
The share price of Heritage Foods closed 5 per cent lower on Tuesday at Rs 660.30 per share.
The stock was up 32.66 per cent in the past 5 days.
It was up 81.88 per cent in the past month.
Over the past 6 months, the stock surged 178.26 per cent.
Heritage Foods’ stock price was up 211.90 per cent over the past year.
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Analysts remain bullish on multibagger stocks related to Andhra PRadesh CM Chandrababu Naidu that have gained nearly 230 per cent in 1 year. Check target price and stop loss. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
