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MFL

Meghmani Finechem high volume breakout1. Buy or Sell at your own risk 2. Don't risk more than 1%-2% of your capital as stop loss 3. Position Size formula:- Stop Loss Amount/(Buy Price-Initial Stop Loss Price) 4. Sell on initial stop loss hit or daily RSI closing below 40 5. Some other ways to sell stocks can be a. 25% or 50% up in three weeks or less b. Weekly tailing tops with high volume c. Exhaustion gaps d. Heavy daily volume without further upside e. Largest one day price drop After consolidation since October 2021, NSE:MFL has given a high volume breakout today. Buy with a stop at ₹1000. Other fundamentals: 1. Meghmani Finechem Limited (MFL) is part of the Ahmedabad-based Meghmani Group. It was incorporated in September 2007 as a subsidiary of Meghmani Organics Ltd (MOL) but was demerged in April 2021. The company is primarily engaged in manufacturing and selling of Chlor Alkali & its Derivatives with backward and forward integration facilities and also engaged in trading of Agrochemical products. 2. MFL is the fourth largest amanufactururer of Chlor-Alkali and its Derivatives company in India. The company manufactures - a. Chloralkalis: Caustic Soda Lye and Flakes, Liquid Chlorine, Hydrogen, Caustic Potash Lye and Flakes, etc. b. Derivatives:The company has Chlor-Alkali Derivatives in the form of Chloromethanes and Hydrogen Peroxide. 3. The Company’s manufacturing complex is located in a 60-hectare facility in Dahej (Gujarat). The Company possessed the following capacities as of March 31, 2021: ~4th largest capacity of Caustic Soda at 2,94,000 TPA ~2nd largest capacity of Caustic Potash at 21,000 TPA ~3rd largest capacity of Chloromethanes at 50,000 TPA ~3rd largest capacity of Hydrogen Peroxide at 60,000 TPA ~ The company, in the second year of operations of the Chloromethanes plant, achieved 100% capacity utilization (FY 2020-21). ~The overall production of the company increased from 179 KTA in FY 2019-20 to 302 KTA in FY 2020-21, recording 70% growth. 4. The company's products are used in industries like Refinery, Paper & Pulp, Soaps & Detergents, Textiles, Dyes & Pigments, Pharma, Agro-Chem, Paints & Coatings, Alumina, Pesticides, etc. 5. The company is setting up the EPC and CPVC Resins plants which are expected to be commissioned by FY 2022 and 2023 respectively. a. Epichlorohydrin (ECH): Initiated in the Dahej plant, MFL will become the first manufacturer of Epichlorohydrin in India. The project will have a capacity of 50,000 TPA and will be based on TechnipFMC’s Epicerol technology. Once operational, it would be the first plant in India to run on 100% renewable resources. b. Chlorinated polyvinyl chloride (CPVC): The Company announced the setting up of the Chlorinated Polyvinyl Chloride (CPVC Resin) project in Dahej with a capacity of 30,000 TPA. The total cost of the project would be Rs.190Crs. 6. Quarter sales growth at 90%, quarter profit growth at 184%, TTM sales growth at 89% and TTM profit growth at 128% (December 2021). 7. Average ROE for the last five years at 25%. 8. March quarter results are due on 25th April.
NSE:EPIGRALLong
by akashbothra
MFL | Good for Long NSE:MFL Cmp : 1294 Entry : Cmp or near 1214 on retest Target : 7%+ Always Stop Loss: According to one's Risk Reward ratio #Study, Learn & Earn. If you love this post please like and comment your thoughts below. That will be a great motivation for me to post similar ideas ahead. Disclaimer: All the information posting on this page are for the educational purpose only, we are not SEBI registered financial advisor. We wont recommend any BUY/SELL of stocks. Contact your financial advisor before taking any action
NSE:EPIGRALLong
by Art_of_charting_Knowledge