Borosil Renewables Positional Long
Borosil Renewables Limited is the pioneer & leader in manufacturing of Solar Glass in India. The company has a maximum of 2.4 GW annual manufacturing capacity. The export business for them have grown at the rate of 33% CAGR in past 3 years. During its recent trials, the solar glass manufactured by Borosil Renewables Ltd. has succeeded in generating 7.5% more electricity than its immediate European competitor. Lab tests in Berlin have even certified the Solar Glass manufactured by Borosil Renewables Ltd. to be highest to potential induced degradation when compared to its competitors not just in Europe but even China.
Fundamentals:
Baring the last year of complications & lockdowns, the company has shown consistent growth in revenue as well as Total Revenue which can be seen in the image above. The net profits not just showed almost 89% recovery from last year but also almost 64% growth from a fully working year of 2019.
Technicals:
On the looking at weekly chart, we can see how the stock made a range in first quarter of 2020-21 only to break out upward. Further the same pattern was seen during 3rd quarter.
Current range being 225-290 is showing minor attempts of checking resistance around 320 levels. A good entry for this stock will be around 230-220 levels if one is interested in making quick profits with positional bets in the range. However if one is looking at a long term investment, accumulation at every point starting current market price upto 220 with a tight stoploss around 180 should be a safe bet. For Long Term, Take Profit can be kept around 380 levels.
BORORENEW
Fundamentals:
Baring the last year of complications & lockdowns, the company has shown consistent growth in revenue as well as Total Revenue which can be seen in the image above. The net profits not just showed almost 89% recovery from last year but also almost 64% growth from a fully working year of 2019.
Technicals:
On the looking at weekly chart, we can see how the stock made a range in first quarter of 2020-21 only to break out upward. Further the same pattern was seen during 3rd quarter.
Current range being 225-290 is showing minor attempts of checking resistance around 320 levels. A good entry for this stock will be around 230-220 levels if one is interested in making quick profits with positional bets in the range. However if one is looking at a long term investment, accumulation at every point starting current market price upto 220 with a tight stoploss around 180 should be a safe bet. For Long Term, Take Profit can be kept around 380 levels.
BORORENEW
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