Saurabh Mukherjea's chemical stock jumps despite flat markets. Buy or sell? | Mint
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Business News/ Markets / Stock Markets/  Saurabh Mukherjea's chemical stock jumps despite flat markets. Buy or sell?
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Saurabh Mukherjea's chemical stock jumps despite flat markets. Buy or sell?

Saurabh Mukherjea's portfolio: Q3FY23 results of the chemical company is scheduled on 2nd February 2023

This chemical stock is one of the three little champ stocks of Saurabh Mukherjea's portfolio.Premium
This chemical stock is one of the three little champ stocks of Saurabh Mukherjea's portfolio.

Saurabh Mukherjea's portfolio stock GMM Pfaudler is under the radar of stock market bulls since early morning deals on Monday. Interestingly, this is happening despite flat sentiments on Dalal Street. One of the Saurabh Mukherjea's little champs stocks, GMM Pfaudler share price today opened with an upside gap and went on to hit intraday high of 1,595.75 apiece on NSE, logging around 3.50 per cent intraday rise within few minutes of Monday morning deals.

According to stock market experts, this chemical stock in Saurabh Mukherjea's portfolio is under the radar of market observers and investors as the company has scheduled its Q3 results 2023 date on 2nd February 2023. This is the major reason for stock showcasing volatility and attracting buying interest by market bulls. Experts went on to add that the stock is in range of 1,525 to 1,650 and bullish or bearish trend in the stock can be expected only on breakage of either side of the range.

Speaking on GMM Pfaudler share price outlook, Chandan Taparia, Derivative & Technical Analyst at Motilal Oswal said, "The stock is range bound for some sessions and current upside movement in the stock is because of the upcoming Q3 results of the company, which has been scheduled on 2nd February 2023. However, market is expecting better numbers from the company and hence those who have this stock in their portfolio are advised to hold the stock maintaining stop loss below 4 per cent from current levels of around 1,585 apiece levels." However, Motilal Oswal expert maintained that fresh buyers should wait for GMM Pfaudler's Q3 results for the financial year 2022-23.

Sharing pivot levels in regard to GMM Pfaudler share price, Sumeet Bagadia, Executive Director at Choice Broking said, "GMM Pfaudler shares are currently in 1,525 to 1,650 range. Bullish or bearish trend can be assumed only after breakage of either side of the stock. Those who have this stock in their portfolio are advised to hold the stock with stop loss at 1,525 whereas fresh buying is advised only above 1,650 levels."

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

Stock market today

The Dalal Street has been trading flat since opening bell today. The BSE Sensex is down by around 0.20 per cent whereas Nifty 50 index is down to the tune of 0.30 per cent at 11:28 AM. In broad markets, BSE Small-cap index is oscillating around its Friday close. However, Mid-cap index shed more than 0.50 per cent by 11:28 AM on Monday deals.

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.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
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Published: 30 Jan 2023, 11:25 AM IST
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