Carborundum up 15% from reco price. Contiune holding 30% upside seen.
We had recommended a buy in Carborundum on May 24th post Q4 results.
Strong results from Carborundum. CMP: 294. Target 360. SL 270. 3 months.
Stock is in a good buy zone near its 30 DMA. Finding support at 50 DMA. Have SL below 200 DMA of 270.
We recommend to continue holding Carborundum for a target of 440. Sl 290. Buy on dips towards 310-320. 6 months. We expect the stock to post strong numbers next quarter too.