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 08.09.2019

AAKASHAYA PATRA EXCLUSIVE STOCK FOR INVESTMENT:

ESTER INDUSTRIES LTD
(CMP 34)
 ENTER LEVEL – 31 TO 33 STOPLOSS 22 TARGET 55-60 IN 12-18 MONTHS

Ester Industries Limited is a public limited company incorporated in 1985 promoted by the Singhania family. The company is one of India's leading producers of Polyester Films, Engineering Plastics and Speciality Polymers having a track record of continually developing new and innovative products for customers across the globe. Ester Industries has state of the art manufacturing facilities in khatima in Uttarakhand with the capacity of 67,000 TPA of Polyester Resin, 57,000 TPA of Polyester Film,30,000 TPA of Specialty Polymers and 16,500 TPA of Engineering Plastics. The company currently exports more than 30% of its production of Polyester Films with sales and distribution network in more than 56 countries across the world resulting in strong customer relationship. Specialty Polymers are manufactured primarily for the European and US markets.

Ester Inds currently trades at 33.90.The stock posted a smooth recovery from recent lows of 22.50 to 42 within 2 months after dropping from its all time high of 107 formed in 2015 to its 52 week low of 22.50.The stock has then corrected 50% of this recent move and taken support of its 50 Day Exponential Moving Average. With weekly indicators in buy mode namely the ADX, MACD, PSAR and super trend.

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