PL Initiates Coverage On Agro Chemicals Sector, Lists Top 4 Stocks To Buy, Hold

Renowned brokerage firm Prabhudas Lilladher has initiated coverage on the agro chemicals & fertilizers sectors. The analyst has picked 4 stocks to buy and hold showing potential to offer returns to investors. These stocks are Coromandel International, Chambal Fertilisers & Chemicals, Dhanuka Agritech, and PL Industries Ltd.

It is worth mentioning that Russian companies have ceased offering fertiliser such as di-ammonium phosphate (DAP) to India at discounted prices due to tightening global supplies after becoming the biggest suppliers to the country last year, three industry sources told Reuters. The paddy acreage in the ongoing kharif season has reached 403.41 lakh hectares (lh) as of September 8, up by 3 per cent from 392.81 lh a year ago. Meanwhile, the government is confident of meeting the rice production target of 111 million tonnes (mt) in current kharif season after the surge in sowing area and a conducive weather in main growing regions. Check details pertaining to stocks below:

1. Buy Coromandel International: PL has recommended investors to buy Coromandel International shares with target price of Rs 1325 apiece. Current market price of Coromandel International stock is Rs 1103.75 per share with intraday dip of 0.44% as on September 20, 2023 on BSE. Its 52-week high price is Rs 1152.85 per share and 52-week low price is Rs 838.95 per share, respectively. The company's market capitalisation is Rs 32,490.04 crore. Coromandel International stock witnessed a rally of 30% in last 6-months, surged 23% YTD, and gained 40% in last 2-years. In last 1-year, return is 8% and 179% return in last 5-years.

2. Hold Chambal Fertilisers & Chemicals: The analyst has assigned hold call to Chambal Fertilisers & Chemicals stock with target price of Rs 303 apiece. Current market price of Chambal Fertilisers & Chemicals stock is Rs 280.70 per share with intraday fall of 0.51% on BSE on Wednesday. Its market capitalisation is Rs 11,682.90 crore. Chambal Fertilisers & Chemicals stock gained 8% in last 1-month, soared 4% in last 6-months, and declined 20% in last 1-year. Chambal Fertilisers & Chemicals shares rallied 79% in last 3-years.

3. Buy Dhanuka Agritech: Prabhudas Lilladher has assigned buy call to Dhanuka Agritech shares with target price of Rs 950 apiece. Dhanuka Agritech share's current market price is Rs 839.20 per share with intraday fall of 0.88%. Its 52-week high price is Rs 904.90 per share and 52-week low price is Rs 603.05 per share, respectively. Its market cap is Rs 3908.85 crore.

Dhanuka Agritech shares rose 30% in last 6-months, gained 20% in last 1-year, and surged marginally by 1.76% in last 3-years.

4. Buy PL Industries Ltd: The brokerage house has assigned buy rating to PL Industries shares with target price of Rs 4850 per share. The current market price of PL Industries share is Rs 3535.00 per share with intraday fall of 1.50%. Its 52-week high price is Rs 4010.00 per share and 52-week low price is Rs 2870.00 per share, respectively. The company has a market capitalisation of Rs 53,632.35 crore. PL Industries stock offered shareholders return of 11% in last 1-year, gained 9% in last 2-years, and soared 358% in last 3-years. In last 10-years, PL Industries shares rallied 2465%. In last 3-months, PL Industries stock fell 9%.

Disclaimer

The stocks have been picked from the brokerage report of Prabhudas Lilladher. 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 check with certified experts before taking any investment decision.