Sanjiv Bhasin Portfolio, Penny Stock: Holding since share price was Rs 6.50
sanjiv bhasin portfolio, penny stock: holding bajaj hindusthan sugar since share price was rs 6.50
Sanjiv Bhasin Portfolio, Penny Stock: Ace investor Sanjiv Bhasin, in an episode of ET NOW Swadesh, revealed that he had bought a penny stock when it used to trade in the range of Rs 6.5 to Rs 8. Now, the same stock trades above Rs 40.
The stock under discussion is none other than Bajaj Hindusthan Sugar. On Friday, June 14, it closed at Rs 41.59 per share on NSE.
At this price, Bhasin would be sitting with 539.84 per cent of profits in the share.
Sanjiv Bhasin Share: Penny Stock To Buy
The ace investor said that when no one was asking about Bajaj Hindusthan Sugar, he had bought it at the price range of Rs 6.5 to 8. He revealed that he still holds these shares in his portfolio. He further stated that today the price has surpassed the Rs 30-mark, but he still doesn’t have the courage to sell them.
If you already own these shares, he advised staying invested as they are expected to yield more profit in the future.
Bajaj Hindustan Sugar Share Price History
The shares of Bajaj Hindusthan Sugar have provided their investors with a strong return in a short period of time. In the last month, this stock has seen a surge of 32.66 per cent. Over the past six months, the shares have shown an increase of 49.43 per cent.
Speaking of the last year, the stock has given a return of 163 per cent, more than doubling the investors’ money. In the last five years, this share has delivered a whopping return of 389 per cent.
Sugar Stocks News
Sugar stocks are abuzz after Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri earlier this week said that India successfully achieved 15 per cent ethanol blending in May and is on track to reach the 20 per cent target by 2025. Ethanol is seen as a great fuel and is blended with petroleum.
Addressing the media upon assuming office, Puri emphasised the accelerated goal, originally set for 2030, demonstrating India's commitment to enhancing its energy matrix. "In the month of May only, we were able to cross 15 per cent of ethanol blending. Based on the current progress, I am reasonably confident that the 20 per cent blending target will be completed by the year 2025," he remarked.