Apcotex Industries looking strong & Hold for long

Jun 18, 2023

It formed a cup and handle pattern for the daily chart. The technical and fundamental indicators look strong. I have no target in it.

fundamentals
The profit and sales give had more than doubled in 2 years.
Launched new product XNBR Latex for gloves mainly catering to exports and plan to build
the capacity of 50,000 MT for this product and 35,000 MT for existing product portfolio commissioned in Q4-FY2022-23.
The Company also plans to increase capabilities for Nitrile Rubber to cater to domestic and
export markets.
High entry barriers due to proprietary product and process technology, large capex, long sales lead times and difficult-to-handle RMs.
They have a stable market position with good management.
Planned capex worth INR 100 Cr at Valia Plant to reduce costs and debottlenecking completed in June 2020.