Long term trend for Praj Industries is up: Deepak Mohoni
"Potentially short to medium term, this bull market may turn out to be pretty decent for Praj, the next few days will tell but it did correct with the market but overall the long term trend in this stock seems to be up now."
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| Updated: Deepak Mohoni, Director, trendwatchindia.com in an interview with ET Now talks about Praj Industries.
What is the call on Praj Industries?
The golden days of Praj were really back in 2007 when the stock was at Rs 260, it is way below even half that price now but what is going good for this company is since February, pretty strong rally, it gained about 40%. So let’s say it is in the top one third or one fourth of the market performers.
So that is not a bad start to this bull market. Also it started in February, not in March. So independent move from the index, so potentially short to medium term, this bull market may turn out to be pretty decent for Praj, the next few days will tell but it did correct with the market but overall the long term trend in this stock seems to be up now.
What is the call on Praj Industries?
The golden days of Praj were really back in 2007 when the stock was at Rs 260, it is way below even half that price now but what is going good for this company is since February, pretty strong rally, it gained about 40%. So let’s say it is in the top one third or one fourth of the market performers.
So that is not a bad start to this bull market. Also it started in February, not in March. So independent move from the index, so potentially short to medium term, this bull market may turn out to be pretty decent for Praj, the next few days will tell but it did correct with the market but overall the long term trend in this stock seems to be up now.
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