Dear All,
Kansai Nerolac Paints
Technical Rationale
Ø Kansai Nerolac Ltd. is in a long term uptrend channel.
Ø In short term stock was advancing rapidly to new highs.
Ø Currently stock is continuing its uptrend channel and will reach 440-450 levels.
Ø With the stop loss of 320 buy at current levels (370) with the target of 440-450.
Ø Support is at 320 and resistance is at 440.
Fundamental Rationale
Ø Kansai Nerolac is India's largest industrial paint company with ~35% market share in Industrial paints and third largest player with overall 16% market share.
Ø Kansai Nerolac has technically collaborated with two companies Kansai Paint Co. and Oshima Kogyo Co. of Japan.
Ø Products of the company are engaged in manufacturing of automotive coating, general industrial coating, high performance coating and powder coating.
Ø The company markets its products under the brand name such as 'Impressions', 'Beauty', 'Excel' and 'Suraksha'
Ø Company's R&D facility focuses on improving its manufacturing processes and innovate its products. This facility has officially recognized by the Department of Science and Technology (DTI), Government of India.
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Regards,
CSEC Research
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