Book profits in Orchid Chemicals: Shardul Kulkarni

Shardul Kulkarni of Angel Broking told CNBC-TV18, "Orchid Chemicals and Pharmaceuticals has moved higher but it is time to book profits because one is already getting 17 percent in a single day. Around Rs 62-63 one should look at booking profits in it. At this point of time fresh long positions in the stock is not recommended because it does not have a good risk to reward ratio."

At 14:50 hrs Orchid Chemicals and Pharmaceuticals was quoting at Rs 61.60, up Rs 10.25, or 19.96 percent. It has touched an intraday high of Rs 61.60 and an intraday low of Rs 52.50.

The share touched its 52-week high Rs 105.95 and 52-week low Rs 35 on 26 December, 2012 and 06 August, 2013, respectively. Currently, it is trading 41.86 percent below its 52-week high and 76 percent above its 52-week low. Market capitalisation stands at Rs 433.98 crore.