RCF good for long term: Shrikant Chouhan

Technical Analyst Shrikant Chouhan of Kotak Securities has suggested a buy call for medium term for Rashtriya Chemicals & Fertilizers (RCF).

The stock was up by Rs. 4.25 at 92 in today’s trading session. The volumes were high on the counter.

The stock was among the major losers in recent stock market melt-down. The stock is good as a medium and even a long term investment.

The stock has touched a 52-week high of Rs. 150 recently. The stock has touched a low of Rs. 32. The stock is currently trading with a P/E of 36. In end of January, the PSU announced a quarterly net profit of Rs 60 crore for the quarter ending December 2007.

Other stocks from the sector which are looking good for long term include Chambal Fertilizers and GNFC.

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