Newly listed Paradeep Phospates is outperforming markets; do you own it?

Newly listed Paradeep Phospates is outperforming markets; do you own it?

Kaustubh Bhosale

The shares of Paradeep Phosphates are seen trending on Thursday trading session.

The shares of Paradeep Phosphates are seen trending in the Thursday trading session. The shares of Paradeep Phospates are trading higher by more than 5 per cent in the early trading hours.  

Paradeep Phospates shares are higher by more than 25 per cent in one month even as BSE Sensex is up by more than 5 per cent in a similar period.  

Paradeep Phospates is the newly listed company that made its debut in May 2022. From its listing price, the shares of Paradeep Phospates are trading higher by more than 11 per cent.  

In June we saw some mutual funds purchase shares of Paradeep Phospates. That led to some up move in the stock price.  

Also, recently there is a buzz in the market that the closure of the Mangalore Chemical and Fertilisers Ltd (MCFL) plant can benefit Paradeep Phosphates. MCFL has announced the temporary closure of its 280000 MT DAP/NPK plant due to the non-availability of raw materials.  

Few market participants believe that Paradeep Phospates will gain because it competes with MCFL in the target markets and owing to MCFL plant closure, the faster utilization of Paradeep Phospates 810000 tonnes Goa plant is possible.  

On July 21, the markets are trading with a positive bias. BSE Sensex is up by more than 116 points in the morning trading session. The advance-decline ratio is clearly in favor of advances. 

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