Vijay Kedia Portfolio Stock Sudarshan Chemical Industries This week there has been a decline of about 6 percent. Sudarshan Chemical shares fall ₹689.65 per stock level to ₹649.15 today (1:07 pm on NSE) in last 5 trading sessions – a decline of around 6 per cent in this period. The chemical company has informed Indian exchanges that one of its principal investor Anuj Narayandas Rathi is making profit and experts see this as a major reason for the fall in the Sudarshan Chemical share price.
According to stock market experts, the financial and business outlook of the company is quite strong and the market is expecting the company to be stronger in Q2 FY2021-22 numbers as compared to Q1 FY2021-22 numbers. He further said that the current profit-booking should be viewed by retail investors as a ‘buying opportunity’ as the stock may bounce back after this profit-booking.
Speaking on the reasons for the decline in the Vijay Kedia Portfolio stock; Avinash Gorakshakar, Head of Research, Profitmart Securities said, “The Pune-based Rathi family has a huge investment in this company. The company has recently informed Indian exchanges that a member of the Rathi family, who has investments in this company, is earning profits. Hence, this profit-booking could be the reason for the fall in the share price of Sudarshan Chemical. However, this decline will not last long as the stock gives a great opportunity to the retail investors to take advantage of this fall and buy over the counter at a discounted price. Used to be. .”
Elaborating on the company’s business outlook, Avinash Gorakshakar of Profitmart Securities said, “The company is primarily in the business of agrochemicals, pigments and dyes. After curbing Chinese imports, it is expected to make gains in its pigment dyes business. Further, its agrochemical business is expected to get better value after forecast of normal monsoon by IMD (India Meteorological Department). Hence, the outlook for Sudarshan Chemical business for Pigments, Dyes and Agrochemicals segment is promising. Looks good. Strong quarterly numbers can be expected from the company. In the upcoming results season.”
Advice to investors to buy shares of Sudarshan Chemicals; Ravi Singhal, Vice Chairman, GCL Securities said, “This part of Vijay Kedia’s portfolio may go down further. ₹625 per. So, my advice is to buy this counter around ₹625 level target for 3 to 6 months ₹725 to ₹775 per equity share level. However, the stop loss must be maintained ₹588 in each of the chemical counters while assuming this position.”
Sudarshan Chemical Management recently informed the Indian Exchanges about profit booking by a member of the Rathi family saying, “It is informed that the Company has been notified under Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations. A disclosure has been received in ‘Form C’, 2015, as amended from time to time, dated the 16th September, 2021, regarding sale of equity shares by Anuj Narayandas Rathi HUF, a member of the promoter group of the company.”
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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