2 Chemical Stocks Are Top Stock Idea Picks In March 2023 From KR Choksey, Buy For Strong 60% Gains

KR Choksey in its Top Idea Picks In March 2023 has listed two leading midcap chemical sector stocks with a "Buy" tag. These two midcap stocks are Anupam Rasayan India Ltd and Gujarat Fluorochemicals Ltd. The brokerage has assigned "buy" to the stocks with attractive target prices, sees robust gains of up to 60%. Below are key takeaways:

Anupam Rasayan - Stock Outlook & Returns

The brokerage has assigned a "Buy" on the stock with a target price of Rs 839 apiece. If the stock is purchased at the current market price, it is likely to give a return of up to 15% potential returns.

The stock last traded at Rs 736.05 apiece, up 4.17% from its previous close. Its 52 week low is Rs 546.75 apiece and 52 week high is Rs 936.55 apiece, respectively. The stock was listed on 24 March 2021.
It has given 39.72% positive return since its listing. In 1 week, it gained 13.4%. Whereas, it gained 27.55% in 1 month and 2.29% in 3 months, respectively. It has fallen 12.08% in 1 year.

Anupam Rasayan - Brokerage's Comments

KR Choksey in the report stated, "Anupam Rasayan is currently trading at PE multiples of 25.3x / 18.7x based on our FY24 / FY25 EPS estimates respectively. We assign PE multiple of 22.0x to FY25E EPS of INR 37.9 to revise the target price at INR 839/share and a BUY recommendation on the stock with an upside of 18.7% at CMP."

Gujarat Fluorochemicals - Stock Outlook & Returns

KR Choksey placed a "Buy" on the stock of Gujarat Fluorochemicals with a target price of Rs 5,015 apiece. The stock is likely to give up to 60% return if purchased at the current market price.

The stock's current market price is Rs 3,171.20 apiece, up 0.90% up from its previous close. Its 52 week low is Rs 2,112.25 apiece and 52 week high is Rs 4,173.95 apiece, respectively. It was listed on 16 October 2019.

The stock has given 344.15% multibagger return. In the past 1 week, it gave 3.45% positive return in 1 week. It gave 18.17% positive return in 1 week and fell 8.05% in 3 months. In 1 year it gained 19.7%. In 3 years it gave 546.72% multibagger returns.

Gujarat Fluorochemicals - Brokerage's Comments

According to the brokerage firm, Gujarat Fluorochem has carved out a market for itself in the fluoro-chemicals industry and is better positioned to explore markets for more value-added products, including in emerging industries like electric vehicles and advanced fluoropolymers, while continuing to benefit from its backward integrated and diversified businesses. "The stock is currently trading at a P/E multiple of 27.5x/22.0x FY23E/FY24E earnings. We maintain 'BUY' rating on the stock and apply a P/E multiple of 35x to its FY24E earnings, which yields an higher revised target price of INR 5,015 per share," the brokerage has said.

Disclaimer

The stocks have been picked from the brokerage reports. Greynium Information Technologies, the Author, and the respective Brokerage house are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to consult with certified experts before making any investment decision.