Mid-Cap Chemicals Co. Hits New All Time High; Brokerage See It To Gain Further

Shares of Gujarat Fluorochemicals have hit fresh life time high for yet another session today. The new high made on the NSE is Rs. 3483.8 per share. The multibagger stock in a year has yielded a return of 109.64%. On a YTD basis the stock has yielded 43% return.

Gujarat Fluorochemicals is a mid cap chemicals company. The company is engaged in business of chemical and allied products . The company offers plastics and specialty chemicals.

The company's Q1Fy23 earnings are expected today i.e. July 27, 2022, while in the previous quarter its revenue from operations gained both sequentially as well as YoY to Rs. 1052.97 crore. Also, the firm's net profit though remained steady sequentially to Rs. 220.94 crore.

Earlier broking firm Edelweiss has given a buy call on Gujarat Fluoro for a target price of Rs. 3676 per share.

"Refrigerant gases SRF (BUY) and fluoropolymers players GFL (BUY) will continue to reap the benefit of strong pricing environment in FY23. While players such as Aarti Industries (BUY) and Deepak Nitrite (BUY) may have to contend with some volatility due to large capex commissioning. FMCG/niche chemicals' players such as Galaxy Surfactants (BUY) and Fine Organics (HOLD) shall benefit from margin expansion," Edelweiss added.