Buy Chambal Fertilisers: Rajesh Jain

Buy Chambal Fertilisers and Chemicals, says Rajesh Jain, Independent Market Strategist.

Jain told CNBC-TV18, "Chambal Fertilisers has an intraday target of Rs 95. The stock continues to witness secular institutional buying on expectations of freeing up the fertiliser prices by the Government of India; it has a significant presence in the urea manufacturing business as well as urea and other fertiliser trading business."
He further added, "The immediate trigger in the stock is however an increase in the prices of phosphoric acid and Chambal has a JV in Morocco for the manufacturing of phosphoric acid and that is an immediate plus in the stock. The company is also likely to hive off it shipping division and finally the textile division which is one of its trading arms is also turning in good numbers for the last several months hence Chambal Fertilisers is an excellent secular buy."