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The stock of Khaitan Chemicals & Fertilisers Limited (Khaitan) was languishing at around Rs7 in May 2020. From June, the scrip shot up vertically to almost Rs30, a 300% rally in a few months. What’s the reason and is it sustainable? Khaitan manufactures single super phosphate (SSP), sulphuric acid (SA) and a small amount of edible soya oil which makes losses. Its power division uses steam.
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