There is a possibility that at higher levels market will see selling coming in again, says Rajat Bose.
The company‘s net sales were up 21 percent at Rs 2,204.8 crore versus Rs 1,815.2 crore.
CNBC-TV18's Research Team recommends Top10 stocks to watch in today's trade - Dish TV, Delta Corp, DLF, Tata Power, Voltas, HPCL, Sail, Cipla, Tata Motors and Videocon.
Hindalco Industries | Power Grid | Amara Raja Batteries | RCF | BPCL | NTPC | Jet Airways | Hatsun Agro | Jain Irrigation | Apollo Tyres | Dredging Corporation | Timken India | Kalpataru Power | Ess Dee Aluminium and ENIL are stocks, which are in the news today.
Krish Subramanyam of Asit C Mehta Inv Intermediates recommends buying Chambal Fertilisers and Chemicals for a target price of Rs 65 and advises selling Mindtree for a target price of Rs 1040.
Dharmesh Kant of India Nivesh Securities recommends buying Ahmednagar Forgings for a target price of Rs 430 and Canara Bank for a target price of Rs 420.
Sudarshan Sukhani of s2analytics.com recomemnds holding Lanco Industries as the stock may head higher.
Sudarshan Sukhani of s2analytics.com is of the view that one may see upside in Rashtriya Chemicals and Fertilisers and feels that the stock may test Rs 100.
Phani Sekhar, Fund Manager-PMS at Angel Broking is of the view that one may hold Rashtriya Chemicals and Fertilisers as the stock may test Rs 70 in next 12-15 months.
For full year FY15, working capital requirement stands higher at 1700 crore, says RG Rajan, CMD, RCF.
The new plant will have capacity of about 1.27 million tonnes of urea per annum and it will also produce ammonia. The new project will be covered under the new urea investment policy, which has been recently notified by the government.
Also on the divestment front, the valuers for HZL and Balco have sought more time to submit valuation reports.
Under this notification, the companies will get a subsidy only if the production starts in the next five years.
Here are a few top buzzing midcap stocks picked by CNBC-TV18's analysts in trade today. We have HPCL, BPCL, IOC, Punj Lloyd, Bharat Forge, Sandesh, Tech Mahindra, Mindtree, Patel Logistic, Deepak Fertilisers and RCF.
Fertilizer stocks have been in the limelight post a CNBC-Awaaz exclusive, which states that the government has notified a New Urea Investment Policy.
Krish Subramanyam of Asit C Mehta Investment Intermediates is of the view that one can pick FDC with a target of Rs 168 and advises holding Rashtriya Chemicals and Fertilisers with a target of Rs 59.
Dharmesh Kant, IndiaNivesh Securities Private Limited advises buying SKS Microfinance for a target price of Rs 360 and Thomas Cook for a target price of Rs 160.
Krish Subramanyam of Asit C Mehta Investment Intermediates recommends buying Rashtriya Chemicals and Fertilisers for a target of Rs 59 and Igarashi Motors for a target of Rs 296.
Manav Chopra, Nirmal Bang advises buying Biocon for a target price of Rs 530 and CESC for a target price of Rs 790.
State-owned Coal India Ltd, gas utility GAIL India and fertiliser majors RCF and FCIL will form two Joint Ventures this month for revival of Talcher urea plant in Odisha at a cost of Rs 8,200 crore.
The move is expected to lead to an increase in subsidy by about Rs 900 crore which will have a positive impact on urea players.
Eicher Motors | IOC | BPCL | iGate | Titan Company | Ramky Infrastructure | United Bank of India | Venus Remedies | Infosys | Sun Pharma Advanced Research | Arvind | VST Industries | Lupin | Power Grid | ITI | Hero Motocorp | Maruti Suzuki | Financial Technologies | MCX | Tech Mahindra and United Spirits are stocks, which are in the news today.
With new urea policy getting delayed, state-owned RCF plans to seek clearance from Public Investment Board (PIB) for proposed expansion of its plant in Maharashtra at an investment of Rs 4,112.50 crore.
Rashtriya Chemicals and Fertilisers has reported a sales standalone turnover of Rs 1,407.50 crore and a net profit of Rs 52.90 crore for the quarter ended Dec '13
According to RG Rajan, if the gas price doubles to USD 8.4/mmbtu, RCF‘s subsidy burden will go up by around Rs 1,400 crore per annum.