The heightened activity in fertiliser stocks also comes ahead of Union Budget 2024. This is a general trend as the buzz around fertiliser subsidy gets stronger ahead of Budget.
Ashwani Gujral of ashwanigujral.com recommends buying Rashtriya Chemicals & Fertilizers and Sintex Industries and advises selling Escorts, IRB Infrastructure and VIP Industries.
Expenses rose to Rs 2,031.18 crore in the quarter compared to Rs 1929.51 crore in the year ago period.
The government currently holds 89.93 percent stake in the state-run trading giant and the stake sale would help the company meet Sebi's minimum public shareholding norm. Market regulator Sebi has made it mandatory to have a minimum public holding of 25 percent in all PSUs.
PINC Research has recommended hold rating on Rashtriya Chemicals and Fertilisers with a target of Rs 69, in its July 20, 2011 research report.