Buy Balaji Amines, target price Rs 4200: Edelweiss

Edelweiss has buy call on Balaji Amines Ltd. with a target price of Rs 4200. The current market price of Balaji Amines Ltd. is Rs 3605.75.

Balaji Amines Ltd., incorporated in the year 1988, is a Small Cap company (having a market cap of Rs 11690.60 Crore) operating in Chemicals sector.

Balaji Amines Ltd. key Products/Revenue Segments include Aliphatic Amines & derivatives and Income from Rooms, Restaurants & Other Services for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 674.86 Crore, down -13.61 % from last quarter Total Income of Rs 781.15 Crore and up 49.32 % from last year same quarter Total Income of Rs 451.94 Crore. Company reported net profit after tax of Rs 148.04 Crore in latest quarter.

Investment Rationale
Inverse head &shoulder on weekly chart. Volume and strength suggest break out on higher side.

Promoter/FII Holdings
Promoters held 53.7 per cent stake in the company as of 30-Jun-2022, while FIIs owned 4.51 per cent, DIIs 0.19 per cent.