“SAKUMA is looking bullish on Daily Charts & Buying signal from KST & Strong CCI reading is indicating the bullish trend, therefore I recommend traders to go long around 147 with a price target of around 152 & Stop loss should be placed below 141”.
Sakuma has been actively and continuously diversifying and expanding their products, markets and procurement centers which could manage to improve its performance because of its dynamic & well planned strategies. There has been a substantial contribution by new products which were included in their trading basket in the last 2 years like edible oil and pulses. With increase in focus in trading of edible oil and pulses as well as widening of client base. They are likely to achieve higher growth and Performance in the years to come.
In the face of tough, volatile & competitive Global market environment, this Company continued to strive not only to improve top line but also was successful in achieving higher growth by innovation & tapping new markets and adding new commodities in the basket. The Company also continued its focus on domestic markets and attained better sales than last year to maintain the growth in this segment of business.
SAKUMA was closed 10.31 per cent up today at Rs 144.50 at NSE.
“BOMBAY DYEING is the stock which I would recommend to buy above Rs 126; this can see a upside to levels closer to Rs130-132 zones, keep stop loss below Rs 120”.
This industry saw a volume growth of 3% during the year under review and is expected to grow by 5% in 2017-18. Government of India’s push to increase the size of the Textile Industry output will pave the way for larger man-made fibre consumption due to limited availability of cotton, the implementation of GST will remove the anomaly of lower tax rate on recycled fibre and this will help virgin fibre manufacturers including this Company, in achieving higher volumes and better margins.
For the second consecutive year, the domestic textile market experienced volume as well as value pressure led by weak demand. Latter half of the year saw demonetization further hurting the business with significant drop in consumer demand as well as inventory reduction by trade. However, by holding on to their domestic market leadership amongst organized retailers, the Company has been able to limit the impact of these adverse conditions
BOMBAY DYEING was closed 6.70 per cent up today at Rs 122.55 at NSE