Book 50% profits in Vikas Ecotech at 45. Returns 100%. Revised Target 56. SL 37. Add on dips towards 42. 6 months.
Stock had hit 48 which is 30x annualized recent quarterly EPS. We are revising target to 56, 35x annualized recent quarterly EPS.
Stock is fundamentally costlier in terms of PE and Price to Book, still the valuations are good for long term investment.
Bad quarterly result can pull the stock back towards 32-36.
Any move from here shall be technical and kindly keep strict stoploss.
Enter fresh only on dips towards 42. Other chemical stocks like Gujarat Alkali, Balaji Amines, Thirumali Chemicals, Excel Industries are cheaper comparatively.