Navin Fluorine

Chemical & fertiliser stocks rallied up to 30 per cent in June, thereafter, most of them corrected on account of profit-taking. Will the rally resume in July? Here's what the technical charts suggest.

Owing to the growth potential in the Indian chemical companies UBS has initiated coverage on four firms including PI Industries and Navin Fluorine International with 'Buy' ratings

The shares of Navin Fluorine ended 3.1% lower on the BSE to close the day at Rs 3,500.20 a piece

Valuations are rich and hence, the brokerage firm Motilal Oswal Financial Services said it maintain Neutral rating on the stock owing to limited upside.

In exchange filing, NFIL said Mr. Radhesh R. Welling has tendered his resignation as the Managing Director and a Director on the Board of the Company for personal reasons.

Stocks like Godrej Property can surge 15 per cent, where as Navin Fluoro can easily jump another 10 per cent provided it consecutively closes above Rs 4250

A larger correction is likely once the 16,782 supports are broken

VST Industries Limited, Suzlon Energy Limited, Sudarshan Chemical Industries Limited, Caplin Point Laboratories Limited, are reflecting upside on moving averages

India is emerging as a hub for specialty chemicals, helped by favorable policy measures.

However, they remain positive on the sector's long-term growth story on the back of ramp-up in China's environmental inspections and specialty chemical players having a healthy margin of safety

Since the negative divergence of the Relative Strength Index (RSI) has not been able to dampen the upside bias, the inherit strength is growing stronger in Tata Chemicals, charts show

The company's Ebitda margins improved 323 basis points to 24.9 per cent from 21.7 per cent in previous year quarter

The company said the Covid-19 was unlikely to have any significant impact on its operations

The stock jumped 12% to Rs 1,683 on the BSE today, surpassing its previous high of Rs 1,629 touched on February 26, 2020.

Over the past one month, shares of NFIL, Fairchem Speciality, Neogen Chemicals, Deepak Nitrite, and Alkyl Amines have gained in the range of 24 per cent to 50 per cent, against a 3 per cent.

The Company has entered into a $ 410 million (approx. Rs 2,900 crore) multi-year contract with a global company for manufacture and supply of a high performance product in the fluorochemicals space.

The stock rallied 8% to Rs 1,104.75 on Wednesday, extending its Tuesday's 4% gain on the BSE.

Technical calls from Vinay Rajani, Technical & Derivatives Analyst, HDFC securities.

In the past two months, the stock has outperformed the market by surging 34 per cent against 7 per cent rise in the benchmark index.

The stock has rallied 32% in past two months, as compared to 6% rise in the benchmark S&P BSE Sensex