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Shares in Gokaldas Exports surged and surged today as the Abu Dhabi Investment Authority (ADIA), the sovereign wealth fund owned by the Emirate of Abu Dhabi, bought a stake in the export company on September 30, 2022.Abu Dhabi Government Owned Investment Company bought 1.5 million shares paid by the company rupee$349.75 per share in a block trade executed on September 30, 2022.Shares in Gokaldas Exports opened today with a large upside gap and continued to hit session highs as details of the block trade became public after Friday’s close. rupeeThe NSEs were at 375.70 each, up about 8% within minutes of the open.
according to stock market Experts say the global investment fund’s investment in Gokaldas Exports has been a catalyst for the stock.The stock has given a trendline breakout rupee365 levels, it may go up to rupeeShort-term 435 levels, once sustained above rupee400 per share level.
Anuj Gupta, vice president of research at IIFL Securities, said of the rise in Gokaldas Exports share price: “ADIA’s purchase of a stake in the company was a short-term positive for the stock and helped Gokaldas Exports stock give a short-term trend line breakout in the rupee365 levels, currently facing resistance rupee390 per share level. Once this resistance is breached, a sharp rise is likely in the short term. “
Regarding the pivot level for Gokaldas Exports stock, Choice Broking executive director Sumeet Bagadia said: “One can buy the stock at the current level, keeping the stop loss at rupee340 per level.it may rise to rupee400 in the short term.People who have this stock in their portfolio should also keep this stop loss and wait rupee400 goals. “
Anuj Gupta of IIFL Securities advises new investors to buy at current levels, “Gokaldas Exports share price is in an uptrend and could rise sharply after sustaining above levels rupee390 per level.once it closes on rupeeLevel 3390, may rise to rupee420 and rupee435 levels in the short term. “
Disclaimer: The opinions and recommendations above are those of an individual analyst or brokerage firm and not those of Mint.
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