Stock to buy for short term: Anand Rathi sees 17% upside in this Green energy stock. Should you buy?

Stock to buy for short term: Anand Rathi sees 17% upside in Green energy stock Servotech Renewable Power System Ltd. The target price of Anand Rathi Investement services for Servotech Renewable Power System shares stand at ₹185 for the stock that is trading at close to ₹160 levels. Servotech Renewable Power System stock remains the pick of the month of Anand Rathi Investment Services

Servotech Renewable share price movement

The Servotech Renewable Power System share price opened at ₹163.95 on the NSE on Thursday, higher than previous close of ₹161.81. The Servotech Renewable Power System share price thereafter saw intraday highs of ₹164.75 and thereafter was trading at close to ₹162 levels

The Servotech Renewable Power System share price , nevertheless is still up 116% in last one year , having given Mutibagger returns to investors

Analysts expect significant gains for Servotech Renewable Power System share price that has corrected significantly in last few months. Servotech Renewable Power System share price had scaled 1 year or 52 week highs of ₹205.40 in September'2024. However correction in the markets and small cap stocks has meant that Servotech Renewable Power System share price too has corrected. On the positive side Analysts now think that the major part selling in the stock is behind.

Anand Rathi Investment services gives a Target price indicating gains

Servotech Renewable Power System share price has corrected 22.5% from its peak and is nearing a key support at ₹160, aligning with its breakout zone, said analysts at Anand Rathi Research. The Selling pressure as per Anand Rathi has eased in the last two days, with the RSI (Relative Strength Indicator) recovering from oversold levels. This signals a potential reversal in trend

Anand Rathi Research recommends buying Servotech Renewable Power System share price in the ₹152-163 range, with a stop-loss at ₹141 and a target of ₹185, offering an attractive risk-reward ratio. They say that one should monitor for confirmation of strengthn near the support, before entering the stock.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.