Stocks to buy: Raja Venkatraman's top picks for 23 September

1. Fundamentals: We are looking for companies with strong financial metrics such as consistent revenue growth, high profit margins, low debt-to-equity ratios, and a healthy return on equity (ROE). These indicators reflect a company's financial health and operational efficiency.
2. Emerging sectors: We will focus on industries with high growth potential such as renewable energy, biotechnology and artificial intelligence. Companies in these sectors often have untapped opportunities.
3. Management and innovation: We will assess the company's leadership, business model, and innovation capabilities. Strong management and unique products or services often drive long-term success.

Three stocks to buy today, recommended by NeoTrader’s Raja Venkatraman

FLUROCHEM

• Buy above ₹3,890 and dips to near ₹3,800 , stop ₹3,750, target ₹4,100-4,200

Gujarat Fluorochemicals posted steady quarterly performance in June 2025 with revenues reaching ₹1,304 crore, up 4.24% from ₹1,251 crore in the previous quarter. Ebitda improved by 10.54%, from ₹332 crore to ₹367 crore. However, net profit came in at ₹184 crore, down 3.66% from ₹191 crore in the March quarter. FY25 revenue saw modest growth of 11.68% from FY24, though profit after tax surged 37.31%, highlighting improved operational efficiency.

Despite global volatility arising from US tariffs on specialty chemicals exports, Gujarat Fluorochemicals maintained profitability by diversifying its product base and leveraging domestic demand, partially offsetting weaker export realizations. The GST calibration across chemicals has been relatively stable, aiding smoother transactions and compliance, though input costs and global currency fluctuations remained headwinds. The EBIT margin remained healthy at 21.24%, reflecting operational robustness. Return on equity has averaged around 13.4% over three years.

The past few days have been quite challenging. After consolidating at lower levels around 3,630, a volume build up managed to holding back the selloff in the past few trading sessions. The strong thrust to the upside followed by robust volume at lower levels shows the trends ahead could be heading higher. The Moving Average Convergence Divergence (MACD) also hints at an upward trajectory.

Gujarat Fluorochemicals’ performance reflects resilience amid global policy challenges. With stable GST rates and adaptive export strategies, the company remains well-placed in the specialty chemicals space, leveraging scale, efficiency, and a robust product portfolio for continued growth.

DCAL

• Buy above ₹315 and on dips to ₹290, stop ₹280, target ₹345-355

Dishman Carbogen Amcis Ltd. (DCAL) delivered mixed results in the latest quarter. Net income fell sharply to ₹234 million from ₹431 million in the previous quarter – a 45.7% decline. Revenue came in at ₹7,890.4 million, markinghealthy year-on-year growth of 34.5% fueled by a strong performance in contract research and manufacturing services, especially from Swiss and Indian operations. Ebitda for the quarter was ₹5.77 billion, translating to a 15.16% margin.

The impact of US tariffs on pharma exports was limited, as a substantial portion of DCAL’s CRAMS revenue originates from Europe and India. Domestic sales benefited from GST streamlining, supporting both top-line and margin expansion by easing compliance and reducing procedural delays. However, within the India segment, revenue from quats & generics fell 20.8% YoY due to an agrochemical sector slowdown, highlighting some vulnerability to sectoral shifts.

The stock has had a challenging 2025 so far. After steadily making higher highs higher lows, the stock been in steady decline since July. After testing resistance levels around 285, the stock has the potential to move higher.

Management is focused on innovation and expanding the Bavla site paid dividends, driving up NCE APIs and intermediates revenue by 36.9% YoY. In summary, while DCAL remains exposed to volatile segments and post-pandemic global trade recalibrations, its diversified revenue streams and improved operating margins provide confidence in future stability and growth.

JTEKTINDIA

• Buy above ₹183 and on dips to ₹173, stop ₹168, target ₹197-205

JTEKT India Ltd. recorded an impressive performance in the June quarter, with revenue climbing to ₹583.88 crore, a 22.27% quarter-on-quarter increase. Profit before tax jumped 66.64% QoQ to ₹41.56 crore, while net profit soared 179.71% to ₹27.02 crore, despite a marginal 2.7% year-on-year decline. The operating profit margin stood at 5.45% and net profit margin at 1.88% for the quarter, indicating stable, albeit modest, profitability.

JTEKT’s exposure to US tariffs remains limited since its major market is domestic automotive supply, although supply chain disruptions and global inflation exerted some cost-side pressures. GST calibration in the auto component sector has stabilised, supporting timely credit flow and input cost management, though rising raw material prices continue to weigh on margins.

This counter joins the list auto stocks that have seen a steady recovery after the recent clarity on US tariffs. The strong rise over the past two weeks caused the stock to breach an important resistance level around 155. With the trends now suggesting the possibility of more upward traction, one could consider trading or investing in this counter.

JTEKT India’s strong recovery this quarter underscores its ability to adapt operationally, offset macroeconomic and regulatory headwinds, and maintain its position as a leading auto component manufacturer.

Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.

Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.