SUMITO Technical Analysis

Sumitomo is important chemical player in India whose parent company is a famous Japanese company. With new launches, cross-selling opportunities, and a turnaround in the domestic agriculture chemical market, SUMICHEM expect growth to continue in FY21. Aforementioned in weekly period chart. It indicates, SUMITO Chemical is trying to broke the upper circuit level.

SUMICHEM’s Last trading price(24th June 2021) was Rs386.65 before closing the NSE equity market. Price fell of 1.48% in share price in single trading day window. The stock opened at 392.45 and made high of 396.8, and low of 385. For Intraday trading, SUMICHEM is volatile stock.

Sumitomo is key stock in the NSE cash market because it positions itself in the field of life science. It has a crop protection business, which is one of its key business domains that are likely to show high growth in the future.

Sumitomo has a substantial amount of investment from Life Insurance Corporation Of India, Financial banks, and foreign portfolio investors. The detailed shareholding pattern is available here SUMITOMO Shareholding pattern.

Sumitomo Chemical India Limited manufactures, imports and markets products for crop protection grain pigmentation.

Sumitomo chemical company and biological products are sourced from an us-based subsidiary which for 40 years has been producing a range of naturally occurring environmentally compatible pesticides and plant growth regulators.

SUMICHEM also produce many technical grade pesticides in the state of art manufacturing units for India.

Sumitomo had been then merged its Indian unit with Excel crop care by issuing shares of Sumitomo Chemical India to minority shareholders.

Sumitomo chemical India has list listed its share on the national stock exchange and BSE on 27th Jan 2020. The uptrend has been started from 3rd December for the company. With higher volumes, we may expect a rally in the upcoming weeks. Anyone looking for long-term investment can do the research. Identify the major volume levels for volume breakouts and take positions.

The company will become a leading player in India’s crop protection market which holds the promise of continued high growth outside India. The company is debt-free as per the last report. The company employs over 75000 employees with a market revenue of 30+ billion. Following is the list of Individual promoters.

  • Yuya Miyajima
  • Akira Ohisa
  • Hideo Wada
  • Hiroyoshi Mukai
  • Hiroyuki Miura
  • Tomohito Fujiwara

Sumitomo Chemical (Brazil) may offer further business opportunities, although the size of those opportunities is currently discrete. The merger with Excel Crop Care (ECCL) has expanded the company’s generic product portfolio and regional reach.

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