Query Trends : India Glycol

Query : I have India Glycol at Rs.379, what to do? Deepak

Thebullishtrends : India Glycol share price closed today at Rs.426. India Glycol is only is only the manufacture of monoethylene glycol (MEG) other than the Reliance group and it is a largest producer of ethylene oxide in India. India Glycol produces MEG using in Alcohol route. Rising the crude rate Indian Glycol will be benefited. India Glycol sources is molasses from sugar mills.

India Glycol is having locational advantage it is only the manufacturer in North India with its factories in Uttaranchal catering to the north eastern states. The textile sector which obsorbs close to 50 percent of India Glycol's ethylyne oxide derivatives sales is on uptrend.

We are expecting that India Glycol may post on income of Rs.1500 cr and PAT Rs.195 cr with EPS of Rs.70 discounts current price by 6.09 P/E, having sound fundamentals, and good reserves possible bonus chances, you can hold this scrip, will give you excellent returns in coming months. The share price may touch Rs.500 in near term.