Stock to buy: Jubilant Ingrevia shares see range breakout; Anand Rathi forecasts over 21% upside potential

Jubilant Ingrevia share price gained over 2% on Tuesday, extending its rally for the sixth consecutive session amid increased buying interest. Jubilant Ingrevia stock hit a 52-week high of ₹627.00 apiece on the BSE after witnessing a technical breakout.

Jubilant Ingrevia shares have jumped 18% in one month and more than 43% in one year. The stock has risen over 20% year-to-date (YTD).

The long-term price charts of Jubilant Ingrevia shares show that the stock is witnessing a range breakout after a bit consolidation and a corrective move.

“The price action resembles a bullish inverse Head and Shoulder pattern and the theoretical target for the same comes around ₹750. Along with the price, we are witnessing a range breakout in monthly RSI and that indicates fresh momentum,” brokerage firm Anand Rathi said.

It advises traders to go long in Jubilant Ingrevia shares near ₹610 – 620 levels with a stop loss of ₹555 for the upside target of ₹735 in the coming months. Jubilant Ingrevia share price target implies an upside potential of 21% from Monday’s closing price.

Jubilant Ingrevia is a global integrated life science products and innovative solutions provider that serves sectors like pharmaceutical, nutrition, agrochemical, consumer and industrial customers.

The life science chemicals segment accounts for 48% of the company’s sales, while specialty chemicals and nutrition account for 34% and 18% of sales. Around 60% of revenues comes from exports 40% from the domestic market.

During the first quarter of FY25, Jubilant Ingrevia reported a consolidated net profit of ₹48.74 crore as against ₹57.59 crore in the year-ago quarter. The company’s consolidated revenue from operations in the April-June 2024 quarter dropped to ₹1,024.34 crore from ₹1,075.02 crore, year-on-year (YoY).

In Q1FY25, the company’s pharma segment continued to witness strong volume growth with stable prices. Specialty chemicals saw a 18% YoY growth driven by rising volumes of pyridine and diketene derivatives.

Analysts at Anand Rathi expect improvement in all the three business segments of the company in FY25 over FY24.

At 11:50 am, Jubilant Ingrevia shares were trading flat at ₹607 apiece on the BSE. 

Disclaimer: The promoters of HT Media Ltd, which publishes Mint, and Jubilant Ingrevia are closely related. There are, however, no promoter cross-holdings.

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 making any investment decisions.