A strong order book, global chemical opportunities, and prudent cost management offer earnings visibility
The company has a multi-faced revenue stream and it is focused on international markets
Expansion through acquisitions and large-scale capital expenditure in the chemical sector, alongside international growth strategies, make it well-placed to capitalise on future opportunities
Given the weak sentiment, the benchmark indices may extend their southward journey in the upcoming session. Below are some trading ideas for the near term.
Ion Exchange shares are in focus after the company secured contracts worth Rs 161.19 crore from Adani Power for water and environment management solutions at Raipur and Raigarh ultra-superpower projects.
GMR Power and Urban Infra, Reliance Power, Pudumjee Paper Products, BL Kashyap and Sons, Allcargo Logistics, Dish TV India, Nippon Life India Asset Management, and Trident will also be in focus on September 19.
Recovery in both domestic and international markets and increased industrial activity augur well for the company
If Nifty successfully surpasses 19,850 levels, we anticipate a potential upward movement towards levels of 19,990 and 20,100.
The company’s standalone profit after tax (PAT) for Q1 FY24 came in at Rs 38.39 crore, compared to Rs 72.17 crore in the preceding quarter.