Buy Navin Fluorine International, target price Rs 5070: ICICI Direct

ICICI Direct has buy call on Navin Fluorine International with a target price of Rs 5070. The current market price of Navin Fluorine International is Rs 4739.85. Time period given by analyst is 3 months when Navin Fluorine International Ltd. price can reach defined target.

Navin Fluorine International Ltd., incorporated in the year 1998, is a Mid Cap company (having a market cap of Rs 23381.54 Crore) operating in Chemicals sector.

Navin Fluorine International Ltd. key Products/Revenue Segments include Chemicals, Sale of services, Scrap and Export Incentives for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 408.43 Crore, down -3.06 % from last quarter Total Income of Rs 421.34 Crore and up 21.78 % from last year same quarter Total Income of Rs 335.39 Crore. Company reported net profit after tax of Rs 74.45 Crore in latest quarter.

Investment Rationale
Buying demand has emerged from the upper band of the last one year range breakout area (Rs 4329-3360) signalling strength and open upside towards Rs 5070 in coming months as it is the measuring implication of the year’s range breakout (Rs 4329-3360)

Promoter/FII Holdings
Promoters held 29.7 per cent stake in the company as of 30-Jun-2022, while FIIs owned 23.35 per cent, DIIs 18.86 per cent.