New Delhi. In the stock market, people keep looking for good stocks to make more money in less time. It is a bit difficult to find such stocks. Today we are telling you about one such stock which has doubled the investment of its investors in the last 15 months. We are talking about the stocks of Sudarshan Chemicals. Despite doubling the money in 15 months, the fund managers do not seem to be worried about its valuation. An example of this is that HDFC Mutual Fund had bought about 10 lakh shares of it on 7 June itself.
Even before this, HDFC Mutual Fund has invested more than Rs 91 crore in the shares of this company. According to a news from Moneycontrol, analysts are looking at this purchase in relation to the growing chemical market. They say that since the chemical market is growing, the mutual fund expects Sudarshan Chemical to also benefit from this expansion. Sudarshan Chemical has a good position in the global pigment market. On the other hand, the world’s largest pigment company Heubach has filed bankruptcy papers. Analysts believe that despite such a rise in its shares, this stock is still far behind its fair price.
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History of shares
Shares of Sudarshan Chemicals closed at 807.70 on NSE on Tuesday with a gain of 2.35 per cent. In the last 5 days, this stock has increased by about 8 per cent. In 6 months, this stock has given a return of around 65 percent. This stock can see a boom after February 2023. On February 17, this stock was around Rs 362 on NSE. Its 52-week high is Rs 893. The company made a profit of Rs 58 crore in the March quarter of the last financial year. Whereas in the same quarter of 2022-23, the company’s profit was Rs 33 crore. The market cap of the company is around Rs 5500 crore.
what the future looks like
Various brokerages believe that the pigment industry is currently in turmoil. This includes incidents like Heubach filing bankruptcy papers and a Canadian company shutting down one of its units. ICICI Securities research analyst Sanjesan Jain believes that Sudarshan Chemical also owns 80 percent of the products that these companies used to make. He sees this as a good opportunity for the company. Sharekhan has said that the company is adding new facilities. According to the brokerage, the company is seeing great growth opportunities in India and abroad.
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Tags: Business news, Stock Markets
FIRST PUBLISHED : June 11, 2024, 19:36 IST