Orchid Chemicals can move to Rs 125- 128: SP Tulsian

Orchid Chemicals can move to Rs 125-128 in the near-term says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, “When Orchid Chemicals number came in it was expected that the share will probably breach below Rs 100, but held just at that it corrected to about Rs 100 and there the opinion came that in spite of the bad Q1 numbers the stock can accumulated because purely on fundamentals the valuation looks quite cheap and for the last maybe couple of days we have been seeing the informed buying coming back, which is also compelling the shorts to get covered and that is probably keeping the stocks on an upward trajectory.”
He further added, “I have been keeping my positive stance on the stock because being the top 7 or amongst the top 8 pharma companies and the robust pipeline of the products and all that probably the stock can move to about Rs 125-128 in the near-term and on the long-term basis I am keeping a positive stance.”