scorecardresearchMinting Money! This stock turned <span class='webrupee'>₹</span>5 lakh to over <span class='webrupee'>₹</span>46 lakh in just 2 years

Minting Money! This stock turned 5 lakh to over 46 lakh in just 2 years

Updated: 13 Apr 2022, 08:17 AM IST
TL;DR.

The stock, which made its market debut in 2019, just before the pandemic hit, has surged over 800 percent in the last 2 years.

The stock, which made its market debut in 2019, just before the pandemic hit, has surged over 800 percent in the last 2 years.

The stock, which made its market debut in 2019, just before the pandemic hit, has surged over 800 percent in the last 2 years.

Shares of Gujarat Fluorochemicals have given skyrocketing returns to its investors in the last 2 years. The stock, which made its market debut in 2019, before the pandemic hit, has surged over 800 percent in the last 2 years.

The scrip jumped from 321 in April 2020 to currently trade around 2,971, registering gains of as much as 825 percent in just 2 years. An investment of 5 lakh in 2020 would have turned into 46.25 lakhs currently.

Just in the last 1 year, the stock has advanced over 300 percent in comparison to a 19 percent rise in benchmark Nifty. The stock has a market cap of 32,131 crore and it recently hit its 52-week high of 3,204.50 on March 21, 2022. 

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Gujarat Fluorochemicals stock price trend

Gujarat Fluorochemicals is a chemicals company engaged in manufacturing fluoropolymers, fluorospecialities, refrigerants and chemicals. The Company is a producer of industrial and essential chemicals for the pharmaceutical, agrochemical and plastic sectors.

The firm reported a profit of 204.65 crore in the December quarter (Q3FY22) against a net loss of 480.43 crore in the same quarter last year. Its total income came in at 1,035.88 crore in Q3FY22 as compared to 677.49 crore during the year-ago period, up 53 percent YoY.

Edelweiss Securities is bullish on Gujarat Fluorochemicals (GFL) with a target price of 3,447. “We have recently initiated coverage on GFL as we believe that the company offers strong growth opportunity in fluoropolymers and is a likely beneficiary of strong positioning in fluorine chemistry."

ICICI Securities is also bullish on Gujarat Fluorochemicals and believes that the company will likely benefit from rising demand/realisation for fluoropolymers. 5 analysts polled by MintGenie also have a 'strong buy' call for the stock.

The brokerage house has a 'Buy' call on the stock with a target price of 3,356 and it is among its top picks in the chemicals space. As per the brokerage, the company is backward-integrated for most products, which enables it to expand capacity faster than global peers. ICICI also expects new fluoropolymer revenues to rise sharply in FY23E on higher volumes.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of MintGenie.

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First Published: 13 Apr 2022, 08:17 AM IST