Kerbside

Kerbside

The recommendations provided in this column are taken from various market sources such as brokers, analysts, dealers and investment strategists, etc. These recommendations may not be backed by strong fundamentals. Therefore we advise readers to use their own discretion before investing in these recommendation

ASSURING ‘HEALTHY’ GROWTH

Dhanuka Agritech

BSE Code: 507717
CMP: Rs867.05

The company is engaged in the formulation and marketing of plant protection agro-chemicals, including insecticides, herbicides, fungicides and plant growth regulators. The company’s brand portfolio consists of over 80 products and it offers its solutions for various crops such as soybean, paddy, cotton, sugarcane, potato, chilli, brinjal, onion and garlic, tomato, okra and cabbage and cauliflower. The company has a network of approximately 8,800 distributors and dealers and about 80,000 retailers across India. This stock has been one of the best performers of the calendar year 2020 but has recently taken a pause and moved sideways. However, one of the leading technical analysts is of the opinion that the stock is likely to scale higher in the coming days since it has formed a strong base and is set for the next round of upward movement. Hence, high risk-taking investors may take positions in the stock according to their risk appetite to benefit from short-term gains.

A ‘NEWSY’ DEAL

Astrazeneca Pharmaceuticals

BSE Code: 506820
CMP: Rs3522

According to dealers at the institutional desk, decent accumulation has been seen in the stock as market participants are expecting some key announcement in the near term. The stock is gaining momentum along with decent volumes and as per our sources, once the news is out the stock will see a decent run-up.

BETTING ON VOLUMES

Gujarat State Petronet

BSE Code: 532702
CMP: Rs218.65

A technical analyst from one of the leading broking agencies is recommending clients to accumulate this stock as it has given a breakout of a downward sloping channel along with decent volume. The RSI indicator is positive and with rising volumes the analyst anticipates the stock to move further up. Hence, traders can take exposure in this scrip for some trading gains.

PROFITS IN THE PIPELINE

Finolex Industries

BSE Code: 500940
CMP: Rs509.80

The company is a manufacturer of Polyvinyl Chloride (PVC) pipes and fittings and PVC resins and offers its products in various categories including agricultural pipes and fittings as well as plumbing and sanitation pipes and fittings. The stock has seen a huge jump in volumes along with a rise in the stock price. The 20-day average volume of the scrip is around 84,551 whereas on Tuesday the stock posted more than five times of its 20 days’ average volume. This indicates strong buying interest by market participants. It is believed that the main reason for this spurt in the volume is that some savvy investors are buying shares of the company. On technical grounds, the stock has moved above its important long-term moving average i.e. 200-DMA. Hence, risk-takers can go for this scrip and hope to make a quick buck.
(Closing price as of August 26, 2020)

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