Buy Stock Of Lux Industries With Rs. 1750 Stop Loss, Available At Near 52-Week Low: Top Brokerage Suggests

Top brokerage firm Prabhudas Lilladher is recommending investors to buy the stock of Lux Industries. The stock is now available at a near 52-week low level. In the last 1 month, the company has gained by 3.48%.

Stock To Buy: Target Price

The Current Market Price (CMP) of Lux is Rs. 1883. Prabhudas Lilladher has estimated a Target Price for the stock at Rs. 2150. This stock has the potential to give 14.19% return, in the upcoming 1 year. It is a mid-cap stock with a market capitalization of around Rs. 5,647 crore.

Stock Outlook
Current Market Price (CMP)	Rs. 1883
Target Price	Rs. 2150
Potential 1 year return	14.19%
52 week high share price	Rs. 4,644
52 week low share price	Rs. 1,684.85

Should You Buy Lux Industries?: Prabhudas Lilladher

According to Prabhudas Lilladher, "The stock after the huge correction from the peak level of Rs. 4644 has bottomed out near the previous low of Rs. 1690 levels and maintained the levels as a strong support zone and has indicated a gradual rise with currently moving past the significant 50EMA level of Rs. 1860 to improve the bias and anticipate for further rise in the coming days. The RSI also has shown a significant pullback to improve the trend and has immense upside potential as indicated by the historical chart pattern. We suggest to buy and accumulate the stock for an upside target of Rs. 2150 keeping the stop loss of Rs. 1750."

Stock portfolio

Founded in 1957 by Mr. Giridhari Lal Todi as Biswanath Hosiery Mills, Lux Industries Ltd. came into being in 1995. Lux eventually became one of the most preferred inner wear brand in the country for everyone. Both of their updated machinery and superior raw materials have been housed in their latest project in Dankuni, West Bengal. Spread over 21 acres it is one of the largest in Asia and also has an in-house processing unit. Lux Cozi, GenX, ONN, Lyra, Luz Inferno, Lux Venus are their most popular brands.

Disclaimer

The above stock was picked from the brokerage report of Prabhudas Lilladher. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.