CHEMICALS
Goldappa & Shawarma Unhealthy: Karnataka Food Authority finds cancerous chemicals in Pani Puri and bacteria in Shawarma
Pani Puri (Google Trends): Pani Puri and Shawarma in Karnataka have been found unsafe by the Karnataka FSSA. Among 260 Pani Puri samples, 22% contained harmful chemicals like brilliant blue, sunset yellow, and tartrazine. Additionally, 8 out of 17 Shawarma samples were unhygienic, containing bacteria and yeast. The FSSA has taken action against the implicated establishments to ensure public health safety.
Petro Carbon and Chemicals stock lists with 75% premium over IPO price
Petro Carbon and Chemicals, under the Atha Group, dominates the B2B market by supplying calcined petroleum coke to a wide range of industries, ensuring high-quality carbon anodes for aluminum smelting. Its strategic growth through vertical integration and tech innovation secures its position in the market.
Stocks in news: Patanjali Foods, IOL Chemicals, Carysil, Tata Steel, Coal India
Coal India's coal production rose 8% to 189.3 million tonnes in the first quarter. Patanjali Foods approved the acquisition of the home and personal care business. DCX Systems received a Rs 1,250 crore order.
Assam's Namrup to get two nano urea plants: Sarbananda Sonowal
Union Minister Sarbananda Sonowal met with Union Minister JP Nadda to discuss expanding the Brahmaputra Valley Fertiliser Corporation Ltd in Namrup. Sonowal urged Nadda to expedite Nano Urea Plant projects within the BVFCL compound. Nadda assured a Rs 500 crore investment to modernize and develop the fertiliser facility, boosting local industry in Assam.
Kotak Equities initiates coverage on JB Chemicals with a target price of Rs 2,025
“Having primarily grown organically until FY2022 and later on aided by benefits from acquired brands, JB has handsomely outperformed the IPM in the past decade by ~600 bps and currently ranks 22 in the IPM,” said Alankar Garude, Analyst at Kotak Equities.
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Neogen Chemicals promoter sells 5.6% stake
Kanani sold 14.95 lakh shares at 1,611.14 each. Shares of Neogen Chemicals closed at 1,592.85 on Friday after a decline of 4.76%
Stocks in news: HCL Tech, Polycab, SAMHI Hotels, Archean Chemical, Ambuja Cement
Sagar Cements re-appointed S Anand Reddy as Managing Director and S Sreekanth Reddy as Joint Managing Director of the company for a period of three 3 years.
Goldman Sachs buys 6.28 lakh shares of Archean Chemical worth Rs 41 crore via block deal
The stock has returned 21% over the last year, underperforming the Nifty's 28%. However, it's currently trading above both its 50-day and 200-day moving averages, suggesting positive momentum.
20 stocks which Quant owns but other mutual funds don't
Sebi is scrutinizing Quant Mutual Fund for alleged front-running. The fund had unique stocks, setting it apart from other asset managers. The diverse holdings across various funds reflect a distinctive investment approach, attracting regulatory attention.
6 chemical stock ideas with upside potential of up to 100%
Chemical sector looks ripe to domestic brokerage firm InCred Equities and seems ready for a fresh up-cycle which is expected to last for the next few years. These stocks have either reversed from a long-term support or made a multiyear breakout retest which makes them quite safe as compared to the stocks which are witnessing a breakout which can fail if the markets correct, says InCred Equities. Below is the list of stock ideas:
Aditya Birla Group’s chemical ops to foray in US with USD 50 million investment
The Aditya Birla Group is already present in the US through Hindalco Industries-owned Novelis Inc and Aleris Inc, and Georgia-based Birla Carbon. It currently has an investment of more than $15 billion in businesses in the US, and is the largest Indian investor in the US as of now.
Brokerage View: Chemical stocks ripe for fresh up-cycle
“These stocks have either reversed from a long-term support or made a multiyear breakout retest which make them quite safe as compared to the stocks which are witnessing a breakout which can fail if the markets correct,” said InCred’s VP, Gaurav Bissa, in a client note.
GST council refers Par panel recos to cut GST on fertiliser to Group of Ministers
Talking to reporters after the 53rd GST council meeting, Keshav said the proposal to reduce the GST rate on fertilisers has been referred to the Group of Ministers (GoM). The issue of further reduction of tax on fertilisers was placed before the GST council in its 45th and 47th meetings held in September 2021 and June 2022, though the council did not recommend any change in rates.
Tata Chemicals, Chambal Fertilisers & Chemicals among 5 stocks with short buildup
Long unwinding refers to the selling of positions or stocks owned for a longer period either to book profit or to exit it in anticipation of impending bearishness. In Monday's trading session, five stocks witnessed a top long unwinding. Here's the list:
Technical Breakout Stocks: How to trade CE Info Systems, RCF and FACT on Friday
The Indian stock market closed higher on Thursday supported by positive global cues. The S&P BSE Sensex closed in the green for the sixth day in a row. The S&P BSE Sensex rose over 140 points while Nifty50 closed above 23,550.
Auto, auto ancillary sector a good theme to play the rural recovery: Devang Mehta
Some of the FMCG participants also came in this analyst guidance that most of these companies are now trying to come back and there was a decent volume growth which is seen.
Tata Chemicals, IRCTC among 5 stocks with long buildup
A long buildup occurs when there is an increase in open interest and trading volumes alongside a rise in the price of the underlying stock in the Futures and Options segment, indicating a bullish trend in the market. In Tuesday's trading session, five stocks experienced a buildup of fresh long positions. Here's the list:
DCM Shriram inks pact with ICT for R&D in chemical industry
DCM Shriram Ltd has signed a memorandum of understanding with Mumbai's Institute of Chemical Technology (ICT) to boost research and development in the chemical industry. The partnership focuses on specialised R&D projects in chemical engineering, epoxy polymers and composites, and water treatment chemicals. The agreement was signed by ICT Vice Chancellor Aniruddha Pandit and DCM Shriram Chemicals Chief Product Development and Innovation Officer Debabrata Rautaray.
India's chemicals market to hit $29.7 bn in 2024, set for steady growth with 3.26% CAGR through 2029
India's chemicals market, valued at USD 220 billion in 2023, is projected to grow to USD 383 billion by 2030, with an 8.1% CAGR. This sector, currently the sixth largest globally by sales, has attracted USD 21.7 billion in FDI from April 2000 to September 2023, benefiting from 100% FDI under the automatic route. Investments in Petroleum, Chemical, and Petrochemical Investment Regions (PCPIRs) are expected to reach USD 420 billion. The establishment of educational institutes like CIPET and IPFT will drive skill development.
L&T dispatches ethylene oxide reactors to China
Infrastructure major Larsen & Toubro (L&T) on Wednesday said it has dispatched the world's heaviest ethylene oxide reactors -- a crucial component in petrochemical plants -- to China. The reactors were dispatched by the heavy engineering vertical of Larsen & Toubro (L&T) for a project of chemical giant BASF in China, the company said in a statement.
SRF expects demand-supply imbalance, margin pressures in BOPET to continue
SRFLimited, an Indian chemicals business, anticipates ongoing demand-supply imbalances and margin pressures in the BOPET sector in the short to medium term, according to a stock exchange filing. However, the agrochemicals segment shows signs of improvement following inventory rationalization in FY24, with robust customer inquiries and progress in active ingredients (AIs) development.
Himadri Speciality to invest Rs 220cr in Bengal to expand speciality carbon black capacity
The expansion, scheduled to be operational within the next 18 months and located at Singur in the Hooghly district, will be funded through internal accruals. This additional capacity of 70,000 tonnes per annum will increase the company's speciality carbon black capacity to 1.3 lakh tonnes per annum, enhancing the cumulative capacity to 2.5 lakh tonnes from the current 1.8 lakh tonnes, the official added.
India to stop importing urea by 2025 end: Mansukh Mandaviya
Asked about achieving self-sufficiency in urea production, Mandaviya said the Modi government has adopted a two-pronged strategy to end dependency on urea imports.
Best Agrolife acquires 100 pc stake in Sudarshan Farm Chemicals for Rs 139 crore
The acquisition will enable BAL to leverage SFCL's proficiency in developing cost-effective and distinctive manufacturing routes for off-patent molecules, it said. "This acquisition involves obtaining a 100 per cent stake through cash consideration, with an estimated enterprise value of Rs 139 crores based on the valuation," the Delhi-based BAL said in a statement.
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