Navin Fluorine rides on carbon credit gains
Navin Fluorine International (NFIL), an Arvind Mafatlal Group company, has seen a 15% gain over the past week on talk of windfall gains from carbon credits.
Navin Fluorine International (NFIL), an Arvind Mafatlal Group company, has seen a 15% gain over the past week on talk of windfall gains from carbon credits. The counter, which is on the radar of many analysts, is back in the news on talk of booking carbon credits worth Rs 100 crore for the whole year and Rs 27 crore in the first quarter.
Marketmen have, however, been speculating that this projection is on a conservative basis and the actual value could be upwards of Rs 400 crore. On an equity capital of 10 crore this would translate to an EPS of Rs 100. The stock which is quoting at Rs 260.45, up almost 3.5% on the BSE has a PE of less than 2.5.
The price of carbon credit has jumped to e21 based on current quotes on the NCDEX. The company is said to have 2.8 million carbon credits. NFIL operates the largest integrated fluorochemicals complex in India and manufactures hydro chlorofluorocarbon, at its Bestan plant located in Surat.
(Contributed by Shailesh Menon, Apurv Gupta & Deeptha Rajkumar)
Marketmen have, however, been speculating that this projection is on a conservative basis and the actual value could be upwards of Rs 400 crore. On an equity capital of 10 crore this would translate to an EPS of Rs 100. The stock which is quoting at Rs 260.45, up almost 3.5% on the BSE has a PE of less than 2.5.
The price of carbon credit has jumped to e21 based on current quotes on the NCDEX. The company is said to have 2.8 million carbon credits. NFIL operates the largest integrated fluorochemicals complex in India and manufactures hydro chlorofluorocarbon, at its Bestan plant located in Surat.
(Contributed by Shailesh Menon, Apurv Gupta & Deeptha Rajkumar)
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