Gujarat State Fertilizer & Chemicals, incorporated in the year 1962, is a Mid Cap company (having a market cap of Rs 7250.30 Crore) operating in Fertilisers sector.

GSFC, the stock, has exhibited strong bullish momentum since it opened with a gap-up on April 26. It rallied 48 percent since April 21 this year.

Porinju Veliyath, Founder, Equity Intelligence India, believes that only companies that share their wealth with their minority shareholders create market capitalisation. He considers a company's market opportunity and the potential for growth, profitability and valuation, as well as the quality of the management and promoter's track record before deciding to invest. Veliyath is bullish on the potential of smaller companies, especially those perceived to change cultural attitudes toward governance and effective management. He also finds value in oil marketing companies and PSU stocks, which are set to make huge cash flows in the next 10-20 years.

The Indian market closed higher on Wednesday, with S&P BSE Sensex up over 150 points and Nifty50 above 17800 levels. The buying was seen in realty, capital goods, telecom, and power sectors but selling was visible in metals, oil & gas, energy, and healthcare sectors. KEI Industries stock surged up to 5.78% intraday and GSFC shares gained over 20%, while IPCA Laboratories stock fell more than 5% following investors' negative reaction to the company's purchase of a 33% share in Unichem Laboratories. Equity Research, CapitalVia Global Research recommends avoiding the latter stock and buying KEI and GSFC shares.

"The policy is favourable for the shareholders, especially the minority ones," said Nilesh Shah, managing director, Kotak Mahindra AMC. "It gives predictability and clarity to shareholders on how a company will distribute dividends or issue bonus shares."

On an intraday basis, GSFC hit a high of Rs 151.70, the highest level since December 16 last year, while if it closes above the Rs 150 level, then that would be the highest since September last year.

Promoters held 37.84 per cent stake in the company as of 31-Mar-2023, while FIIs owned 21.36 per cent, DIIs 1.62 per cent.

Nirmala Sitharaman was given presentations about various activities at NASA Goddard by Dr Makenzie Lystrup, Director of NASA's Goddard Space Flight Center, Ray Rubilotta, Associate Center Director at NASA Goddard and Dr Michelle Thaller, Astrophysicist.

Fertiliser stocks had run up over the past few days in anticipation of an import duty cut in the Budget on some key raw materials

On Wednesday, National Fertilizers, Rashtriya Chemicals and Ferilizers, GSFC and Deepak Fertilizers soared 7-16% on the BSE. The Sensex ended almost unchanged over the previous day. The mid-cap index gained 0.2% and the small-cap index rose 0.45%.

Within the Fertilizer stocks we remain constructive on GSFC which the brokerage expects to outperform as it has generated a breakout above the falling supply line joining the highs of Apr22 (|198) and Aug22 (|171), signalling resumption of up move and offers fresh entry opportunity.

Finolex Cables has been forming higher tops and higher bottoms on the daily chart. It has registered fresh 6 months high with rising volumes.

Indoco Remedies has broken out from the consolidation with jump in volumes. It has also broken out from downward sloping trendline on the weekly charts.

Stocks in focus include names like Eicher Motors which hit a fresh 52-week high, GSFC which rose more than 14 per cent, and HDFC Bank which closed with gains of over 2 per cent on Friday.

Foreign portfolio investors' (FPIs) stake in National Aluminium increased from 13.30% to 16.71% between January and June, while in Hindustan Aeronautics, their stake rose from 3.15% to 5.56%. In Oil India, FPIs increase their stake from 10.11% to 12.42%. Similarly, these investors increased their stake in RCF, BEML, Chennai Petro, Engineers India, Shipping Corporation, Bharat Dynamics, and Mazagon Dock, among others.

"Urea-II plant was operating normally at 105 per cent with Titanium MOC lined high pressure Urea Reactor (XUR-101) in service. On 16th July 2022 night shift, the leakage in the bottom thermo well of Urea Reactor (XUR-101) was noticed. "The required actions of safe plant shut down were immediately taken," the regulatory filing said.

Stocks that were in focus on Tuesday included EID Parry, which rallied more than 17 per cent, GSFC which also rose more than 17 per cent, and MRPL which surged by 10 per cent.