Stocks to buy with Anil Singhvi: Market Guru recommends this chemical stock for good returns, gives 3 targets

Zee Business Managing Editor Anil Singhvi on Thursday gave a buy call on Mangalore Chemicals. Saying that all fertlizer-related shares are doing well today, the Market Guru added that there are reasons why he picked this stock today

Stocks to buy with Anil Singhvi: Market Guru recommends this chemical stock for good returns, gives 3 targets
“It is not hidden that there is something big happening in Fertilizer space. The most important thing is that government's intention of making all fertlizer plants into a gas based-units. This will be reflected in balance sheet of these companies."
Reported By: ZeeBiz WebTeam
Written By: ZeeBiz WebTeam
Edited By: Harish Dugh
Updated: Thu, Feb 25, 2021
01:37 pm
Patna, ZeeBiz WebDesk
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Zee Business Managing Editor Anil Singhvi on Thursday gave a buy call on Mangalore Chemicals. Saying that all fertlizer-related shares are doing well today, the Market Guru added that there are reasons why he picked this stock today.  

He said one of the reasons is that it is the cheapest stock in its category, which trades at PE multiple of 5.

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Also, Income Tax Department, which had seized Vijay Mallya holdings in this company, have been on selling spree, Market Guru said. But now it has exhausted their entire holdings in this company and hence supply related issue has stopped too, he said.

“It is not hidden that there is something big happening in Fertilizer space. The most important thing is that government's intention of making all fertlizer plants into a gas based-units. This will be reflected in balance sheet of these companies. And since this stock is cheaper valuation wise, this can go up to Rs 100. Short-term traders should put a stoploss of Rs 75 and eye an immediate target of Rs 85. Other two targets are Rs 90 and Rs 100. Those trading positionally should keep stoploss at Rs 70.”  

Anil Singhvi said once fertlizer plants are made gas-based units, the shares related to fertilizer companies will give unimaginable profits to their shareholders. “This will be a big game-changer,” he added
 

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