Buy Call for Ircon, UPL shares: Stock Market expert gives Target price, Stop loss

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New Delhi: Stock Market expert Arun Mantri recommended buying Ircon and UPL shares to gain profits in 4-5 days. Appraising on Money9’s ‘Chin Chun Ke’ program, the Mantri Finmart founder estimated the two stocks to rise in the short term.

Buy Ircon shares: Stock market expert

In conversation with Money9’s Vipul Singh, Mantri recommended Ircon to be bought at current price. He suggested that the Railway PSU stock should be bought with a target price of Rs 251 with a Stop Loss of Rs 225 in the short-term.

Ircon share price at 10 am on April 3, 2024: Rs 234.90. The Railway PSU stock has turned out to be a multibagger. It gained over 60 per cent in the last six months and rallied over 300 per cent in the last 1 year.

Announcing its October-December quarter results for fiscal 2023-24 in February, Ircon registered a rise of 29 per cent in its consolidated net profit at Rs 244 crore. Ircon declared an interim dividend of Rs 1.80 per equity share on the face value of Rs 2 each (90 per cent of the paid up equity share capital) for the financial year 2023-24.

UPL Share Price Target

The Mantri Finmart founder advised the stock market players to opt for UPL and gave a target price of Rs 490. The market expert recommended UPL stock to be bought at Rs 473-474 with a Stop Loss of Rs 460.

UPL share price at 10:05 am on April 3, 2024: Rs 475.50. The stock has been on the downside for a very long time. The shares of the company engaged in the business of manufacturing and markets agrochemicals, industrial chemicals, chemical intermediates, and pesticides, slumped around 22 per cent in the last six months, and the last 1 year results show that the stock has plunged over 35 per cent.

UPL Q3 Results of 2023-24

In ₹ crore
Q3 FY24
Q3 FY23
YoY
9M FY24
9M FY23
YoY

Revenue
9887
13679
(28%)
29020
37007
(22%)

Contribution Profit
2689
5831
(54%
10847
15889
(32%)

Contribution Margin (%)
27.20%
42.60%
(1540 bps)
37.40%
42.90%
556 bps

EBITDA
416
3035
(86%)
3583
8145
(56%)

EBITDA Margin (%)
4.20%
22.20%
(1800 bps)
12.30%
22.00%
(966 bps)

Net Profit*
-1217
1087

-1240
2777

(Disclaimer: This article is only meant to provide information. News9live.com does not recommend buyinWhat EWorldg or selling shares or subscriptions of any IPO and Mutual Funds.)

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