The stock is in a strong uptrend as it bounced after forming a base around its 38.2% Fibonacci Retracement level of the prior up-move (Rs 2,205-2,515), which was placed at Rs 2,400.
Astral shares fell nearly 6% on Monday after the company’s board approved the demerger of its chemicals business into a newly incorporated entity, Astral Chemie.
Analysts at Nomura and Jefferies, however, maintain ‘Buy’ ratings, with Nomura highlighting Anup Kumar Saha as a strong internal candidate. Despite the leadership change, analysts
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