KRBL is one of the leading stocks in basmati rice export(holding company of India gate brand) Recently, Indian government has put a ban on non-basmati rice exports which has led to increase in price of basmati rice in the world.
However, despite of the positive news for the stock, no major price change was observed in chart. The stock is available at a PE of 12 and has a negligible debt with ROE of around 17%.
Technically, the stock is near a strong round number resistance of 400. Positional traders can keep this stock in watchlist as the risk associated is low and reward is high in a longer term. Idea is shared only for educational purposes
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440+ today. T1 successfully done. Today is last day for buyback application. Buyback price is 500.