Year-End 2022 Picks: Buy 6 Chemicals Stocks Including 5 Multibagger, Brokerage Sees Gains Up To 60%

Nuvama Wealth Research (erstwhile known as Edelweiss Wealth Research) has recently published a year-end 2022 report on the Chemicals Sector. In the report, the brokerage has picked 6 stocks from the stock to invest for gains in 2023. These stocks are SRF Limited, Navin Fluorine International, Rossari Biotech, Vinati Organics, Balaji Amines, and Neogen Chemicals. Below are the key takeaways of the stocks:

1. SRF Limited

The brokerage has estimated a target price of Rs 2,753/share with a buy call. It claims a potential upside of 21% from its current level. The stock last traded at Rs 2,275.95/share, 1.36% down from the previous close. SRF is a large-cap stock with a market capitalisation of Rs 67,289.92 crore.

The stock has given negative returns for the past 1 year. It fell 1.94% in 1 month, 10.53% in 3 months, and 4.84% in the past 1 year, respectively. However, the stock has given 232.66% multibagger returns in 3 years and 474.39% multibagger returns in 5 years, respectively.

2. Navin Fluorine International Limited

The brokerage has assigned a buy on Navin Fluorine with a target price of Rs 5,500/share. If you buy the stock at the current market price, it could give 36% return. The current market price of the stock on NSE is Rs 4,062.80/share This is a midcap stock having a market capitalisation of Rs 20,141.53 crore.

The stock has also given negative returns for the past 1 year. It fell 5.49% in 1 month, 8.97% in 3 months, and 3.49% in the past 1 year, respectively. However, the stock has given 298.85% multibagger returns in 3 years and 389.23% multibagger returns in 5 years, respectively.

3. Rossari Biotech Limited

Nuvama Wealth Research has assigned a buy on the stock with a target price of Rs 1,170/share. It claims a potential upside of up to 60% from its current level. The stock last traded at Rs 734.70/share on NSE. This is a small-cap stock with a market capitalisation of Rs 4,050.59 crore.

The stock was listed on 23 July 2020 on NSE, and since its listing, it has given 0.94% negative returns. The stock has given 3.87% positive returns in 1 week. In the past 1 month, it fell 7.11% and in the past 3 months, it fell 23.89%, respectively. In the past 1 year, it has given maximum 41.96% negative returns.

4. Vinati Organics Limited

The brokerage firm has estimated a target price of Rs 2,660/share with a "buy" rating. Given the target price, if you buy the stock at the current market price, it would give you gains of up to 36% on investments. The stock's current market price is Rs 1,967.80/share on NSE. This is a midcap stock having a market capitalisation of Rs 20,225.45 crore.

The stock has fallen 9.41% in the last 1 month and 2.07% in the last 3 months, respectively, however, it gained 0.81% in a week. In 3 years it gave 105.36% positive returns and 294.39% multibagger returns in the last 5 years.

5. Balaji Amines Limited

The brokerage has assigned a buy call on the stock for robust gains of up to 57% with a target price of Rs 4,250/share. The stock on NSE last traded at Rs 2,707.20/share, down 0.18% from its previous close. It is a midcap stock having a market capitalisation of Rs 8,771.60 crore.

Since the past 1 year, the stock has continuously fallen. It decreased by 10.94% in the past 1 month, 15.78% in three months, and 15.5% over the past one year. However, the stock has generated whooping multibagger returns of 647.64% over the past three years and 324.76% over five years, respectively.

6. Neogen Chemicals Limited

The brokerage has assigned a target price of Rs 1,700/share with a 'buy' tag on the stock. With the given target price, the brokerage claims a potential upside of 38% if you buy the stock at the current market price. The current market price of the stock on NSE is Rs 1,236.90/share, down 0.47% from its previous close. It is a small cap stock with a market capitalisation of Rs 3,084.74 crore. 

The stock has given 9.86% positive returns in the last 3 months, however, in the last 1 week it has given 2.37% negative returns. It has given 22.04% positive returns in the last 1 year. Over the last 3 years, it gave 66.97% positive returns, whereas, in the last 5 years, it gave 106.15% multibagger returns.

Disclaimer

The stocks have been picked from the brokerage report of Nuvama Wealth Research. 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.