Chemicals business IPL rallied over 4% yesterday and now looks poised to breakout to fresh multi-year highs in the coming weeks – a 20% gain before Christmas would not surprise. The market has clearly embraced the fertiliser manufacturers strong 2nd half performance and as so often occurs companies that report well outperform over both the following days and months.
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Buy Hold Sell: The best and worst performers of FY25
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Tuesday 26th August – Dow off -349pts, SPI down -19pts
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Monday 25th August – Dow Jones +846pts, SPI Futures +84pts
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MM is bullish IPL initially targeting the $3.50 area
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