Buy Chambal Fertilizers

Technical analyst, Ashwani Gujral has advised investors to purchase Chambal Fertilizers & Chemicals LtdChambal Fertilizers stock around Rs 70 to achieve a target of Rs 88 within a week.

The strict stop loss for the suggested stock should be Rs 65.

The stock has great potential to go upside. It can still exhibit superb surge. The long term traders are recommended to hold the stock.

On Wednesday (May 14), the company’s shares closed at Rs 71.75 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 6159559. The share price has seen a 52-week high of Rs 94.25 and a low of Rs 32 on BSE.

CRISIL, during the last month, assigned its bank loan ratings of `AA-/Stable/P1+` to the various bank facilities of Chambal Fertilisers and Chemicals (Chambal Fertilisers), and has reaffirmed its ratings on the company`s non-convertible debentures, fixed deposit program, and short-term debt program. The ratings carry on reflecting Chambal Fertilisers` established position in the urea industry, superior operating efficiencies, and high financial flexibility.

Chambal Fertilisers & Chemicals, a part of the KK Birla group, is a diversified conglomerate having interests in fertilizers, phosphoric acid, agri-inputs & seeds, agri-biotechnology, textiles, information technology, food processing and shipping. Promoted by Zuari Agro Chemicals in 1985, the company got its current name on Jan. 12, 1989.

Other stocks from the same sector that looks good for short term trading includes GNFC, Nat Fert and Nagarjuna Fert.