Home / Markets / Stock Markets /  Saurabh Mukherjea's chemical stock dips after Q3 results. Opportunity to buy?

Saurabh Mukherjea portfolio: Chemical stock GMM Pfaudler has been under sell off heat since early morning deals. GMM Pfaudler share price today opened downside and went on to hit intraday low of 1,537 apiece on NSE, logging around 4.50 per cent dip from its Thursday close. While nosediving in intraday trade this Saurabh Mukherjea's portfolio stock is just around 20 per cent away from its 52-week low of 1,256 apiece.

According to stock market experts, GMM Pfaudler stocks are falling today due to the weak quarterly results announced yesterday. They said that the stock is a quality stock and belongs to one of the three Saurabh Mukherjea's Little Champ stocks. So, this dip can be a good opportunity for positional investors who have a long term horizon. However, they advised investors to wait for breakout expected at 1,700 apiece levels or at 1,250 support leve as the stock is trading in this 1,250 to 1,700 per share range.

Speaking on the reason for dip in GMM Pfaudler shares, Anuj Gupta, Vice President — Research at IIFL Securities said, "This Saurabh Mukherjea's Little Champ stock has fallen today because the chemical company has reported its Q3 results yesterday, which is below the estimates of Dalal Street. However, the stocks is a quality stock and it is close to its 52-week low as well. So, bottom finishers looking to add quality stock in its portfolio are advised to look at this buy on dips stock for long term."

Advising long term investors to wait for more clarity in trend, Ravi Singhal, CEO at GCL Broking said, "GMM Pfaudler shares are in the range of 1,250 to 1,700 per share levels. One should enter either above 1,700 when the scrip give breakout on closing basis or wait for the stock to fall towards its base placed around 1,250 apiece levels."

In Q3FY23 results, this Saurabh Mukherjea's portfolio company has reported decline in consolidate net profit by over 41 per cent to 18.67 crore against 31.82 crore in corresponding period in previous financial year. However, company's sales grew over 23 per cent to 792.31 crore in third quarter of the current fiscal against 642.28 crore in Q3FY22.

GMM Pfaudler shares are one of the three Saurabh Mukherjea's Little Champ stocks. Saurabh Mukherjea is Founder & Chief Investment Officer at Marcellus Investment Managers.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

Asit Manohar
Chief Content Producer at Live Mint Digital Team
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