HDFC Bank stock has confirmed a breakout from a descending trendline, signaling the end of its corrective phase and the start of a fresh upward move
Stock Market Today: Chambal Fertilisers share price has broken out on the daily and weekly chart to close at an all-time high level
Nifty today: Ajit Mishra of Religare Broking recommends maintaining a "sell on rise" strategy for the Nifty index while prioritising prudent stock selection
Fertiliser companies are set to post healthy earnings growth, driven by volume growth in the Urea biz and sizeable cost savings in producing phosphoric acid for complex fertiliser makers
The catalyst for this rally in fertiliser shares was the anticipated increase in the price of Di-Ammonia Phosphate (DAP), the second most widely used fertiliser in India after urea
On Wednesday, after market hours, Chambal Fertilisers reported its Q2 numbers that showed the company registered a consolidated net profit of Rs 536.36 crore
In the pre-Budget consultations with the finance minister, the agri sector had sought rationalisation of fertiliser subsidies and hike in investment for agricultural research.
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.
Stock price has broken out on the daily chart where stock price closes at two year high
Alok Industries and Chambal Fertilisers among others have recently bounced back above their 30-EMAs; charts suggest a possibility of an up move in the near-term.
Chambal Fertilisers and Chemicals Ltd on Friday reported a 39 per cent increase in its consolidated net profit at Rs 380.96 crore for the second quarter of this fiscal year. Its net profit stood at Rs 274.19 crore in the year-ago period. Total income fell to Rs 5,467.28 crore in the July-September period of 202324 fiscal, from Rs 8,675.59 crore in the corresponding period of the previous year, according to a regulatory filing. Total expenses declined to Rs 4,894.72 crore in the second quarter of this fiscal from Rs 8,305.42 crore in the year-ago period. The company declared an interim dividend of Rs 4.50 (45 per cent) per equity share of Rs 10 each.
RCF, GNFC and FACT may rally up to 15% as per their technical charts
Major stocks in fertlizer sector continue to trade with bullish bias, as their chart structures denote feasible upside.
(Reuters) - India's Chambal Fertilisers and Chemicals Ltd reported a near 26% slump in quarterly profit on Tuesday after a weak demand due to erratic monsoon led to a pile-up of unsold stock.
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The derivative analyst from HDFC Securities recommends buying CHAMBAL FERT March 400 CALL at Rs 13.50 & simultaneously selling 420 CALL at Rs 7.50.
The derivative analyst from HDFC Securities recommends buying December 400 Call and selling 430 Call based on the following four rationales.
The technical & derivative analyst from HDFC Securities recommends buying Chambal Fertilisers and Info Edge
Analysts at Sharekhan expect high double-digit earnings growth for agri input companies over the next couple of years
The stock surged 11% to Rs 64.50 after the company said its promoter, The Hindustan Times increased stake via open market purchase.