Espresso shot of the day – Sudarshan Chemical Industries Ltd up by 19.65 percent

EspressoLogy

Espresso shot of the day – Sudarshan Chemical Industries Ltd up by 19.65 percent

August 27, 2021
Espresso shot of the day – Sudarshan Chemical Industries Ltd up by 19.65 percent

SUDARSHAN CHEMICAL INDUSTRIES LTD 708.75 (+19.65%) BSE – INE659A01023 | 27THAUGUST 2021


Sudarshan is a leading color & effect pigment manufacturer with experience of over 60 years. Sudarshan started manufacturing pigments in 1952 with a handful of inorganic pigments and has since flourished with a breadth of products that cover classical azo pigments, high-performance pigments, effect pigments and pigment dispersions. They primarily serve the coatings, plastics, inks and cosmetics markets.

Recent Drivers

  • On Aug 27, 2021, the government imposed an anti-dumping duty on natural mica-based pearl industrial pigments. Sudarshan Chemical can benefit from the imposition of the duty as it is the sole producer of pigments in India.
  • On Aug 6, 2021, net profit of Sudarshan Chemical Industries rose 43.74% to Rs 26.16 crores in the quarter ended June 2021 as against Rs 18.2 crores during the previous quarter ended June 2020.
  • On Aug 6, 2021, sales of Sudarshan Chemical Industries rose 36.08% to Rs 471 crores in the quarter ended June 2021 as against Rs 346.13 crores during the previous quarter ended June 2020.
  • On May 28, 2021, the Board of Directors at its meeting recommended a final dividend of Rs 6 per equity share of Rs 2 each for the Financial Year 2020-21. If approved by the shareholders at the ensuing 70th AGM of the company, such final dividend shall be paid between Aug 20 and 31, 2021, to those shareholders whose name appears as on July 30, 2021 (that is, the record date).
(Sources: Business Standard, CNBC TV 18, BSEIndia)


Technical Force*

  • S&P BSE 500 month till date gain up by 0.61%
  • Touched upper circuit Rs 710.8
  • 3 months avg. volume of NSE: 5,87,000
  • Quantity traded: 4,77,710 | Deliverable quantity: 1,32,715 (27.78%)
  • Stock price has jumped more than 60% from one-year low level: 421.6 (Sept 9, 2021)
  • Daily RSI (14) is in Oversold territory today
  • 52-week-high: 791.95 | 52-week-low: 421.6

Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

834.53

686.27

582.78

434.52

331.03

182.77

79.28

-

Fibonacci Pivot

686.27

590.10

530.69

492.42

434.52

376.51

338.35

278.94

182.77


Today’s Close

708.75

SMA

BSE

10 DAY

611.86

20 DAY

664.46

50 DAY

702.13

200 DAY

583.83


Some Key Ratios (Source: BSE)

Market Cap: 4,906.48 crores

PE: 36.41

OPM%: 12.47

ROE%: 17.49

Promoters holding%: 39.57

Prev. Close: 592.35

*Chart And Technical Force data taken from the Binge desktop app.

The scope and usability of this information/data is time-sensitive and market-based, and as such the same may become outdated for the investment decisions of clients, for which Sharekhan comtrade bears no responsibility. References to securities do not constitute a recommendation to buy, sell or hold such securities. The user assumes the entire risk of any use made of this information. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document and should consult his own advisors to determine the merits and risks of such an investment. Sharekhan Comtrade Private Limited is under no obligation to update the information in this document from time-to-time.



Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.