Sharing the weekly chart of Styrenix Performance Chemicals here.
The company breached its 52W high today.
It is involved in the production of ABS and SAN chemicals which are used in the auto sector which many are touting would see a turnaround as interest rates lower from here.
In Dec 2022, the original promoter of the company, Rahul Agrawal brought back the company from an MNC that had taken over the operations a few years ago.
The last quarters results were truly incredible compared to the performance earlier. After this a doubling of capacity was announced by the company.
The stock pledge is high because the company was taken over through debt in the name of the promoters and the company will possibly pay higher dividends to enable the pledge to be paid off in the coming years.
Too many positive factors playing out in the company at once.
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