Stock market analysts have maintained ‘buy’ rating on Gujarat Alkalies & Chemicals Ltd (GACL) with an intraday target of Rs 118.50.

According to them, interested traders can purchase the stock above Rs 117 with a strict stop loss of Rs 115. If the stock markets remain on the positive path then the stock price will hit a target above Rs 122.

Gujarat Alkalies and Chemicals Ltd was incorporated in March 1973. It was financed by Gujarat Industrial Investment Corporation Limited, a wholly owned corporation of the Government of Gujarat. The improvement in the working of the  company strongly depends on the higher demand for chlor-alkali industry products and revival in both international and domestic caustic soda prices. The management of the company is optimistic that things will turn out in favour of the company.