Buy Neyveli Lignite on every fall in Price - Anil Manghnani
Anil Manghnani is bullish on Neyveli Lignite and is of the view that investors should accumulate the stock at any fall.
"Neyveli is still interesting; every fall you would see this sharp bounces because of the stock actually broken out on the longer term came after a long time. In this move it is Rs 81 is important if it crosses Rs 81 that’s a trading target then you could rally back to Rs 87, which is a recent top at Rs 93. But again if it comes down, back closer to Rs 70 and Rs 66 levels definitely accumulate the stock at any fall,” Mr. Manghnani stated.
At this time, it is the best stock to make higher profits. But it is a slow performer so the investors have to wait and watch each and every moment of the stock.
Neyveli Lignite Corporation (NLC) mines lignite coal India and it also generates power from the coal. The company operates three mines, situated near the South Indian city of Chennai. Its makes 24 million tons of coal annually, and also produces and supplies 2490 MW of power each year from three stations to the South Indian states of Andhra Pradesh, Karnataka, Kerela, Tamil Nadu, and Pondicherry.