EXCLUSIVE: PLI Scheme for surfactants, dye, pigments, chemical, petrochemical sectors in final stage; big news for THESE stocks

Production linked incentives (PLI) scheme for surfactants, dye, pigments, chemical, petrochemical sectors is in its final stages, Zee Business' Chetan Bhutani tells Zee Business Managing Editor Anil Singhvi.

PLI Scheme worth Rs 5,000 crore can soon get approved as inter-ministerial consultations were ongoing on this issue since February, Bhutani said citing its sources. He added that Ministry of Chemicals and Fertilizers has sent the draft cabinet note to NITI Aayog which means that as the note gets final approval from NITI Aayog it will be sent to Prime Minister's Office.

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Domestic dyes and pigments sector will receive around Rs 3100 crore and surfactants sector can get around Rs 2000 crore, he further said. Bhutani said that Galaxy Surfactants Ltd, Aarti Surfactants Ltd, Ultramarine and Pigments Ltd are the companies which will be benefited the most by this PLI scheme.

ZEE BUSINESS EXCLUSIVE

गैलेक्सी सर्फेक्टेंट्स, आरती सर्फेक्टेंट्स, अल्ट्रामरीन पिगमेंट्स के लिए बड़ी खबर

सर्फेक्टेंट्स, डाई, पिगमेंट्स, केमिकल, पेट्रोकेमिकल सेक्टर के लिए PLI स्कीम अंतिम चरण में- सूत्र#PLIScheme @AnilSinghvi_ @BhutaniChetan pic.twitter.com/JkA0w9y00k

— Zee Business (@ZeeBusiness) September 14, 2021

Speaking on the topic, the Market Guru said said that it was a big news for the above mentioned three companies.

On the prospects of Galaxy Surfactants, Sumeet Bagadia said that the stock has shown a breakout and a big upward move is expected from the current levels. He gave a target of 3450-3500 for immediate short term trading. He also said that the way the company is showing breakout in sidewards move it will meet the target level of 3500 and will reach the level of 3750.

The Market Expert asked the investors to hold the positions and gave the target of 3750 and the stoploss of around 3250-3260.