Specialty chemical sector in focus – Centrum Broking analyst picks these 3 stocks for significant returns

The Andhra Sugars shares were up 6.5 per cent on Monday on the NSE and ended at Rs 623. The stock has seen a rounding bottom formation and a three-year consolidation breakout of 2 years, Jain said. He puts the target price at Rs 700-750and stop loss at Rs 560. The 52-week high is Rs 638 it achieved on 30 June 2021, while the 52-week low is Rs 271, it hit on 4 November 2021

Another company picked up by Jain was DCM Shriram Limited. This stock was trading at Rs 1050 on the NSE at the closing time. Source: PTI

The specialty chemical sector stocks are expected to do well in the near to medium term, according to technical analyst Nilesh Jain. He picked three stocks that are expected to give significant returns on the investments. Jain, Assistant Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking, has picked these stocks for Tuesday with an investment perspective.

Stocks to Buy – The Andhra Sugars Limited, India Glycols Limited, DCM Shriram Limited

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The Andhra Sugars shares were up 6.5 per cent on Monday on the NSE and ended at Rs 623. The stock has seen a rounding bottom formation and a three-year consolidation breakout of 2 years, Jain said. He puts the target price at Rs 700-750and stop loss at Rs 560. The 52-week high is Rs 638 it achieved on 30 June 2021, while the 52-week low is Rs 271, it hit on 4 November 2021.

Another company picked up by Jain was DCM Shriram Limited. This stock was trading at Rs 1050 on the NSE at the closing time. It was up 2.6 per cent from the Friday closing price. He puts a price target at Rs 1150 with a stop loss at Rs 990. He recommends a buy on dips.

The 52-week high of this stock is Rs 1200 while the 52-week low is Rs 315.10.

The technical analyst also recommended India Glycols Limited for the price target of Rs 820-Rs 850 with a stop loss of Rs 700.

The stock ended at Rs 763 on the NSE on Monday, up over 12 per cent or Rs 84.

The 52-week high of this stock is Rs 769.80 while the 52-week low is Rs 262.90.

The views expressed by the Jain were on the basis of the technical analysis and not based on the fundamentals of the company.

(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)

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