Home » Stock Market » Fundamentally strong midcap stock to buy in a market correction

Fundamentally strong midcap stock to buy in a market correction

Fundamentally strong midcap stock to buy in a market correction

With the current market fall, many quality stocks have corrected heavily from their peak.
It will be a smart decision to add such stocks to your watch list.

If someone is searching for investment opportunities in the stock market right now, The Indian midcap segment can be a good option for 2023.
According to Equitymaster PI Industries is one of them.

Where brokers have been giving Target price: Rs 4,000 on PI Industries Ltd with Stop loss: Rs 2,930

The ‘China plus one strategy has pushed the agrochemical industry in India on the growth track and the union budget 2023 has given a boost to agriculture also.
Being a leading player, PI Industries can be a primary beneficiary of this.

In spite of the uncertainties in macroeconomics and geopolitics, the company continued to outperform. In the September 2022 quarter, the revenue grew by 30% year-on-year (YoY), driven by high volume and price growth, and the net profit grew by 48% YoY.

According to the analysts, PI Industries can grow dramatically for the following reasons
– Continuously launching new products
– Potential pharma acquisition
– Strong order book

Additionally, expecting 20% growth in the CSM business over the next 2-3 years.

About PI Industries Ltd
– Engaged in agrochemical manufacturing and distribution
– Mainly manufactures agrochemicals, plant nutrients and plant protection, speciality fertilizers and hybrid seeds.
– Currently manufacturing insecticides, fungicides, herbicides and many more

World-class research and development (R&D) facility:
– Continuously innovating new products
– Launched 7 new products in last 2 quarters
– Also, 17 new products are under development

Strong CSM order book:
– CSM order book of Rs 180 Crores
– To match growing demand focusing on increasing the capacities of existing products
– Plans to invest a capital of around Rs700 crores in the financial year 2023

Focus on Pharma business:
– Entering into new market segments to de de-risk agrochemical business
– Successfully developed a Covid-19 drug intermediate
– Planning to grow in the pharma sector through acquisitions

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies are their own and not that of the website or its management. Aceink.com advises users to check with certified experts before taking any investment decisions.

Join 5,00,000+ Subscribers

Be a part of our ever growing community.

Related Posts


AUTO STOCK WITH 20% UPSIDE TARGET Post-budget 2023, the outlook on certain sectors looks promising, and the auto sector is Read more

Why many brokers are giving ‘BUY’ call on Maruti ?

Why are many brokers giving a ‘BUY’ call on Maruti? After reviewing the  Q3 results and management commentary, 17 analysts Read more

Speciality Chemical Midcap stock with a 17% potential upside

Speciality Chemical Midcap stock with a 17% potential upside In a market where large-cap companies dominate, fundamentally strong midcap companies Read more

Fundamentally Strong Electric Vehicle EV Stock

Fundamentally Strong Electric Vehicle EV Stock According to the forecasts made by DIGITIMES Research analyst Jessie Lin, EV uses will Read more


Post A Comment