Arihant Capital has given Buy recommendation for GHCL with a target price of Rs. 898 in its research report issued on Apr 13, 2022
Arihant Capital’s research report on GHCL
GHCL Ltd. is the largest single location manufacturer of Soda Ash in India. It has a plant facility at Sutrapada in Gujarat. It is currently looking at expanding its soda ash capacity. Given the soda ash industry dynamics, tightness in underlying prices and capacity expansion, we initiate coverage on the stock.
Accordingly, we have a Target Price of INR 898/share for GHCL Ltd. and recommend a BUY rating on the shares of the company.
At 15:12 hrs Gujarat Heavy Chemicals was quoting at Rs 571.30, up Rs 20.25, or 3.67 percent.
It has touched an intraday high of Rs 590.95 and an intraday low of Rs 558.85.
It was trading with volumes of 87,062 shares, compared to its thirty day average of 45,021 shares, an increase of 93.38 percent.
In the previous trading session, the share closed down 2.02 percent or Rs 11.35 at Rs 551.05.
The share touched its 52-week high Rs 584.05 and 52-week low Rs 215.35 on 01 April, 2022 and 13 April, 2021, respectively.
Currently, it is trading 2.18 percent below its 52-week high and 165.29 percent above its 52-week low.
Market capitalisation stands at Rs 5,447.39 crore.