Monday, May 16, 2016

Buy GNFC on declines

Company Background :

Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) is an India-based company, which manufactures and sells various fertilizers, such as urea, ammonium nitro phosphate under the brand NARMADA. The Company is engaged in trading of single super phosphate (SSP), di-ammonium phosphate (DAP), urea and muriate of potash (MOP), cattle feed and pesticides. Its segments include Fertilizers, Chemicals and Others (which includes information technology (IT) division's activities). Its Code Solutions is its IT division. 

Its Code Solutions offers digital certificates that integrate with various applications, such as e-mails, workflow, enterprise wide applications or secure virtual private networks (VPNs). Its Code also designs and builds data center infrastructures. Its Code also offers various security services, which include managed IT services and infrastructure design and building services. Its digital certificates are used by individuals, corporates and governments.

Stock Performance :

During the last  1 month the scrip has peaked at Rs.125 from a low of Rs.90 giving decent returns.  Three months movement is also bullish from a low of Rs.75 it has gained as much as Rs.50.  During the last 6 months it has gained.  It started upward journey from Rs.66 on Feb 11, 2016 and has recently touched 52 week high.

Our Recommendation :

Both long term and short term indicators are bullish.  Buy on declines around Rs.115 levels and hold for a target of Rs.150 in coming 6-9 months time frame.


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