Buy Bodal Chemicals, target price Rs 109: Yes Securities

Yes Securities has buy call on Bodal Chemicals with a target price of Rs 109. The current market price of Bodal Chemicals Ltd. is Rs 92.95.

Bodal Chemicals Ltd., incorporated in the year 1986, is a Small Cap company (having a market cap of Rs 1152.35 Crore) operating in Chemicals sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 373.16 Crore, up 18.72 % from last quarter Total Income of Rs 314.31 Crore and up 12.68 % from last year same quarter Total Income of Rs 331.18 Crore. Company reported net profit after tax of Rs 27.17 Crore in latest quarter.


Investment Rationale
Appearance of a bullish candle with sustained move above support levels could lift the stock towards 110 zone.