Balaji Amines: All the moving averages have been contracting for 2.5 years. The stock looks good on a weekly timeframe and might be ready for a breakout.
Triggers lined up for the company:
Electronic Grade DMC: The existing DMC plant is under execution, which will be commissioned during FY 24-25. This has good demand for EV Batteries which has good potential in the coming years we are the only manufacturer of DMC in India right now with an installed capacity of 15,000 MTPA.
Dimethyl Ether: The project for the manufacture of DME is under execution at Unit-IV. The Plant is expected to be commissioned around March 2025. This has an application in the Aerosol industry apart from using as a replacement to LPG for Industrial and Commercial usage. The Bureau of Indian Standards (BIS) has initiated to blend DME 20% with LPG seeing the advantages of DME. The same is under final printing as Gazette Notification.
- New expansion of approximate Rs 750 crores in Subsidiary Balaji Speciality Chemicals Limited
More details are available in the latest quarterly presentation. It’s more of a contra call as the chemical sector is still out of favour. The company has posted not-so-good results in Q1FY25. It’s best to wait for the quarterly call before taking a position.
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