Jubilant Ingrevia - Investment pick on chemical sector recovery
Technical idea of the week - Jubilant Ingrevia
Mgt is confident on agri business recovery in H1 next year, in conversation with many national and international agri clients to serve long term contracts. Food & cosmetic section growth has been good, also trying to win new clients in pharma division to grow their presence. Input cost started decreasing, which will help to improve operating margins.
Technically speaking, stock price has given a breakout from falling trend line, making a symetrical triangle pattern and next hurdle is b/w 460-520 range, closing above 520 will open new levels of 575 and 700. I think this could be a rounding bottom in place if 360 is saved on weekly closing basis.
Mgt is confident on agri business recovery in H1 next year, in conversation with many national and international agri clients to serve long term contracts. Food & cosmetic section growth has been good, also trying to win new clients in pharma division to grow their presence. Input cost started decreasing, which will help to improve operating margins.
Technically speaking, stock price has given a breakout from falling trend line, making a symetrical triangle pattern and next hurdle is b/w 460-520 range, closing above 520 will open new levels of 575 and 700. I think this could be a rounding bottom in place if 360 is saved on weekly closing basis.