Dhanuka Agritech, a leading agrochemical company, has been holding steady in the weak market sentiment today. Despite the flat prices, the company’s share remains in the green zone. In the long term, it has made investors crorepati by giving returns of 300 times on an investment of just Rs. 34,000. Axis Direct, a domestic brokerage firm, has recommended holding onto Dhanuka Agritech shares as they can potentially rise by up to 11% from current levels.

Key Highlights:

– Dhanuka Agritech’s share was trading at Rs. 720.70, up by 0.10%, on the BSE today.
– The company has given returns of 300 times on an investment of just Rs. 34,000 made 20 years ago.
– In the short term, the company faces challenges due to its dependence on foreign companies for raw materials and new product development.
– However, in the long term, the company’s growth prospects look good due to its strong network of distributors and focus on new product development.

Dhanuka Agritech has shown impressive growth in its net sales and net profit on an annual basis in the March quarter. The company has a strong network of over 6,500 distributors across the country, which it plans to leverage for further growth. Moreover, the company is focusing on developing new products and aims to launch eight new products in all segments in the next two years.

However, the company faces challenges due to its dependence on foreign companies for raw materials and new product development. Around 25% of the company’s raw materials come from China and Japan. Despite these challenges, Axis Direct has maintained a hold rating on Dhanuka Agritech shares with a target price of Rs. 800.

Disclaimer: The views and recommendations given by experts or brokerage firms are their own and not those of Moneycontrol. Users are advised to consult certified experts before making any investment decisions.

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DHANUKA AGRITECH’s stock up 29900%, still a multibagger. Should investors buy?

Superfast News Coverage by DelhiBreakings.com team.

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