This chemical stock could rise over 20% in 3 months as HDFC Securities sees upside
Premium- RSI and MFI oscillator is placed above 50 and rising upwards, indicating strength in the current uptrend of the chemical stock, the brokerage highlighted
J B Chemicals and Pharmaceuticals Ltd's stock price has broken out from the downward sloping trendline on the daily chart with higher volumes. Short term trend of the stock is positive as it is trading above its 5 and 20 day EMA (exponential moving average), highlighted brokerage house HDFC Securities.
Sharing the chemical stock as its top e-margin positional pick, the brokerage and research firm has assigned Buy rating to JB Chemicals stock, based on the technical trends, with a target prices of ₹1985, 2100 and stop loss of ₹1,600 with time frame of up to three months.
"RSI (Relative Strength Index) and MFI (money flow index) oscillator is placed above 50 and rising upwards, Indicating strength in the current uptrend. Plus, DI is trading above -DI while ADX line is placed above 25, Indicating momentum in the current uptrend," the brokerage note highlighted.
Established in 1976, J B Chemicals & Pharmaceuticals Ltd. (JBCPL) is an integrated, research-oriented, public listed organisation with a focus on both India and International markets. JBCPL exports to over 30 countries across the world and earns more than half its revenue from its international business.
JBCPL is involved in manufacturing a range of specialty products that include various pharmaceutical dosage forms like tablets, injectable (vials, ampoules, form fill seal), creams & ointments, lozenges, herbal liquids and capsules.
Shares of JB Chemicals have rallied over 69% in a year's period whereas the stock has given multibagger return of more than 401% in the last five years, rising from ₹348 per share level to currently hovering around ₹1,746 apiece.
MINT PREMIUM See All
The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
Never miss a story! Stay connected and informed with Mint. Download our App Now!!