History shows when price forms a channel with upward trend and gives a breakout, it creates a new high and 60%+ gain comes. Breakout is yet to come and Stock may or may not come to 580 level for retesting.
Fundamental business growth points from their recent PPT which supports for a upward movement:
Fixed assets have been increased to 6000 Cr+.
TAN domestic demand is expected to improve further based on growth in coal, cement and steel production
New export potential opportunity opens up with the recent lifting of the export ban by the Government of India.
The improvement in Ammonia prices in the near term is expected to support price stability in the Nitric Acid market.
Plant profitability in Q2 was impacted during the initial plant stabilization phase. Lower Ammonia prices also impacted consolidated margins
Fundamental business growth points from their recent PPT which supports for a upward movement:
Fixed assets have been increased to 6000 Cr+.
TAN domestic demand is expected to improve further based on growth in coal, cement and steel production
New export potential opportunity opens up with the recent lifting of the export ban by the Government of India.
The improvement in Ammonia prices in the near term is expected to support price stability in the Nitric Acid market.
Plant profitability in Q2 was impacted during the initial plant stabilization phase. Lower Ammonia prices also impacted consolidated margins