Stock to Buy on Monday – Black Rose Industries Limited – Market Expert Sandeep Jain has recommended Black Rose as his long term pick for Monday. This was previously recommended in Zee Business show ‘Jain Sahab ke Gems’ with Zee Business Managing Editor Anil Singhvi. He said that this stock has given brilliant results at the levels it was recommended by him.
The company has posted two strong quarterly results since then, he added.
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This is a specialty chemical manufacturing and distribution company, Jain said. This stock is listed on the BSE.
Black Rose Industries stocks ended at Rs 198.80 on Friday, going down by almost 1 per cent from the last closing price on Thursday.
Jain gives two targets for this stock – the first target price is Rs 230 and the next target price id Rs 250. He has a 9-12-month view on this stock. He said that the performance of the company is quite strong and the name of the company itself is very unique.
He said that the fundamentals of this company are quite strong with the promoter holding at 75 per cent. This gives a lot of confidence on the company.
The sales have grown at a CAGR of over 16 per cent while the profits have grown at a CAGR of 78 per cent over the last 5 years.
At Rs 16 cr, the debts are almost negligible. The company has also given its highest ever annual profits of 27 cr, Jain said.
He said that this is a must buy stock at existing levels as a long term pick.
The 52-week high of this stock is Rs 288 while the 52-week low of this stock is Rs 117.65.
He said that he expected a strong action when the markets reopen on Monday. The last two trading sessions were good for the domestic markets after a much-needed break on Wednesday, Jain said. Markets were closed on account of Bakri-id. He said that a fresh buying activity is now being seen. The Markets have also been riding on expectations of good earnings results from the top companies. He said that the party is still ongoing in the mid cap and small cap space.
The broader market also did well on Friday with metals, IT, pharma and banking stocks coming to the party, Jain said. He said that he was bullish on Monday trading session.