GRM Overseas Share On The Verge Of A Breakout: Experts Predict 40% Upside Despite Recent Rally

Despite market ups and downs, GRM Overseas shares are catching the eye of experts. Analysts believe FMCG stocks, like GRM Overseas, will gain momentum after the RBI MPC meeting. GRM Overseas is on the verge of a breakout at ₹228-₹230 per share, with potential short-term targets of ₹280 and ₹320. This suggests a possible 40% gain from the current price of ₹205, which has already climbed from ₹130 in early June 2024.

Key Points:

• Expert Opinion: Saurabh Jain from SMC Global Securities highlights that RBI’s steady GDP growth forecast of 7.2% for FY25 supports the market and FMCG stocks. With the Indian stock market at high valuations, GRM Overseas could be a valuable addition for investors.
• Technical Analysis: Ganesh Dongre from Anand Rathi points out that GRM Overseas surged after breaking out at ₹150. It’s now poised for another breakout at ₹228-₹230, potentially reaching ₹280 in the short term and ₹320 in the medium term.
• Strategic Move: GRM Overseas recently partnered with Solaris Invest in Morocco, expanding its reach with its ‘Tanoush’ basmati rice brand.