Introduction

Khaitan Chemicals & Fertilizers Ltd. engages in the manufacturing and marketing of single super phosphate, sulphuric acid, and soya edible oil. It also involves in the processing of oil seed and crude edible oil, selling of de-oiled cake and crude/refined oil and generation, and selling of wind power. It operates through the following business segments: Fertilizer & Chemicals, Soya/Agro, and Other. The Fertilizer & Chemicals segment manufactures single super phosphate, sulphuric acid, oleum, and liquid. The Soya/Agro segment focuses on the soya oil and de-oiled cake. The Other segment engages in power generation for captive consumption.

Observation

Stock trade above all the ema and form a rounding bottom pattern after breakdown on 13 July 2022 stock try to breach the levels of 91 two time but failed, today stock breach the level of 91 with significant trading volume after 2 years with crossover on 24 june 2024. now we can wait for its retracement levels for better and stable upside move which I have already shown on the above chart for your reference you can read the chart.

This stock is not for safe players this is risky stock do your complete research

Technical Analysis & indicators 🔍

Head & Shoulder

Rounding Bottom

News of the day

1. Adani Enterprises first-quarter profit more than doubled on Thursday as growth in its new energy division outweighed weakness in its key coal trading segment. Consolidated net profit rose to 14.55 billion rupees (around $174 million) for the quarter ended June 30, from 6.74 billion rupees a year ago, the company, which is the flagship firm of the Adani Group, said in an exchange filing.The new energy segment, which comprises of solar manufacturing and wind turbine businesses, posted a 3.6% increase in earnings before interest, taxes, depreciation and amortization (EBITDA) to 16.42 billion rupees.The segment contributes 38% of the company's total EBITDA, which jumped 48% to 43 billion rupees. The conglomerate has been expanding its new energy business, through more investments in renewable energy. The division comprises 15% of net revenue and its quarterly performance was supported by a jump in volumes and prices of solar modules.Overall, revenue from operations rose 12.4% to 254.72 billion rupees.Meanwhile, the company's mainstay coal trading business revenue fell 28% to 107.94 billion rupees on lower coal prices.

2. S&P Global Ratings expects Indian retail borrowing to triple by 2030 due to government-supported digital efforts, according to a report published on Wednesday.The move could raise Indian households' debt to about $2.5 trillion or about 34% of GDP within the period, S&P said.Micro loans mainly to formerly unserved low-income earners could also see a rise to about 7% of household debt by 2030, S&P said.India's financial inclusivity has risen due to technological advances, with basic savings account ownership growing to 77% from 35% in 2011, the report said.Risks from increased lending such as more defaults among low-income households should be offset by fewer micro-lending from major banks, S&P analyst Geeta Chugh said.

3. U.S. RECESSION FEARS AND THE SAHM RULEMarkets await key jobs data later in the session while struggling to understand the direction of the U.S. economy after recent weak figures. Elisabet Kopelman, U.S. economist at SEB Bank, recalls that the historical experience is that turnarounds in the labour market can occur quickly and brutally and that relatively moderate increases in unemployment have been enough to trigger recessions in the United States, the so-called Sahm rule. The Sahm Rule is a recession indicator that signals the start of a recession when the three-month moving average of the national unemployment rates rises by 0.5 percentage points or more, relative to the minimum of the three month averages from the previous 12 months."The U.S. unemployment rate is expected to be unchanged at 4.1% in July, which is in line with the Fed's assessment of long-term equilibrium unemployment," she recalls after wondering if Sahm's recession rule is about to be triggered.

Educational content

Mon Aug 5, 2024