Vijay Kedia Chemicals stock rose in the post-Budget rally. should you buy

According to stock market experts, Vijay Kedia’s portfolio stock has given a fresh breakout on 602 per share level and it may go up from 680 700 per share level in the next 2-3 months. He said that the Budget 2022 is focused on the infrastructure sector and the company manufactures color and effect pigments which are extensively used in the infrastructure sector. Hence, the company is expected to benefit from this infra centric general budget presented by Finance Minister Nirmala Sitharaman yesterday.

Speaking on the factors which are driving Sudarshan Chemical share price; Ravi Singhal, Vice Chairman, GCL Securities said, “The chemical stock is rising after the infra focused budget was presented yesterday as Sudarshan Chemical manufactures color and effect pigments which are extensively used in the infrastructure sector. Hence, this budget The offer is expected to boost the company’s business volume in the long run and hence we are looking at bulk buying at this Vijay Kedia counter.” He said the stock is highly bullish as it has given fresh breakout at 602 per share level.

What technical chart patterns suggest to the Sudarshan Chemical share price; Anuj Gupta, Vice President, IIFL Securities said, “Sudarshan Chemicals stock is trading above 4-month high and has given a strong breakout with substantial volume on the charts. We are expecting it to test. from 690 700 level in the short term. But, the stop loss must be maintained 570 levels when taking a position in this counter.”

Vijay Kedia’s stake in Sudarshan Chemicals

As per the Sudarshan Chemical shareholding pattern for Q3FY22, Vijay Kedia holds 10 lakh shares of the company, which is 1.44 per cent of the total paid-up capital of the company.

Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.