Priyanka Tiwari
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Suspense crime, Digital Desk : Mumbai, India – In a stunning reversal of fortune, shares of Bajaj Consumer Care Ltd. skyrocketed by 20% today, hitting the upper circuit and halting a painful eight-day losing streak. This dramatic rally was ignited by a positive report from analysts who now see the stock as a significant buying opportunity.
The stock, which had been under consistent selling pressure for over a week, saw a massive influx of buyers today. This surge was a direct reaction to a new research report from the brokerage firm Antique Stock Broking.
Analysts at Antique initiated coverage on the FMCG company with a "BUY" recommendation. They believe that the recent sharp correction in the share price has made the stock undervalued and highly attractive at its current levels.
The brokerage has set a target price of ₹300 for Bajaj Consumer Care. This target suggests a potential upside of more than 25% from its previous closing price, signaling strong confidence in the company's future performance.
Bajaj Consumer Care is a prominent player in the Indian Fast-Moving Consumer Goods (FMCG) sector, best known for its flagship product, "Bajaj Almond Drops" hair oil.
The sudden and powerful rally, locking the stock in its 20% upper circuit, indicates that investors have responded enthusiastically to the brokerage's positive outlook. This move has brought much-needed relief to shareholders after a difficult period for the stock.
