Thirumalai Chemicals on an upswing.

Thirumalai Chemicals Ltd. is one of the largest producers of phthalic anhydride, malic acid, maleic anhydride & fumaric acid globally. The manufactured items have a broad use in plastic industry, agricultural fungicides, enhancement of sweetness of fruits and carbonated drinks, animal feeds, medicines etc. They have presence in more than 34 countries.

Thirumalai Chemicals CMP is 204.90. Negative aspect of the company is declining quarterly net profits. Positive aspects of the company are zero promotor pledge, improving annual net profit, improving cash from operations annual, promotors increasing stake. FIIs are also increasing stake & low debt.

Entry in Thirumalai Chemicals can be taken after closing above 207. Targets in the stock will be 216, 222 & 228. Long term target in the stock will be 237 & 250+. Stop loss in the stock should be maintained at closing below 188.